Several investment firms have updated their stock ratings and price targets on shares of Cognizant (NASDAQ: CTSH) in the last week:

  • Cognizant had its “overweight” rating reaffirmed by analysts at JPMorgan Chase. They now have a $79.00 price target on the stock.
  • Cognizant had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $77.00 price target on the stock.
  • Cognizant had its price target raised by analysts at Nomura to $80.00. They wrote, “We liked the CTSH 3Q results on two counts: 1) diversified growth with outperformance vs. peers across all geographies; and 2) better-than anticipated performance in Retail/manufacturing and BFSI offsetting the sluggish growth in healthcare (25% of revenues). We expect market share gains in BFSI, continued traction in retail/manufacturing and the diversified service line portfolio to counter possible growth moderation in the pharma portion of healthcare in FY13F. Our expectations remain intact, and we see CTSH growing revenues and EPS at CAGR of ~18% over FY11-14F. Our earnings estimates are in line with consensus; we believe street pessimism on valuation multiples will fade as Cognizant continues to outperform peers.”
  • Cognizant had its “overweight” rating reaffirmed by analysts at Atlantic Securities. They now have a $75.00 price target on the stock.
  • Cognizant was upgraded by analysts at Credit Suisse from a “neutral” rating to an “outperform” rating. They now have a $85.00 price target on the stock, up previously from $75.00. They wrote, “We upgraded CTSH to Outperform from Neutral and raised our target price to $85 from $75, or ~17.5 times our 2014 EPS estimate of $4.79. Cognizant is the fastest-growing Tier-1 provider of global IT services, trading operating margin expansion (reinvesting in the business) for outsized top-line growth. We think that the company is well positioned to continue taking share from its competitors.”

Shares of Cognizant opened at 65.0102 on Friday. Cognizant has a 52 week low of $53.92 and a 52 week high of $78.00. The company has a market cap of $19.515 billion and a P/E ratio of 19.48.

Cognizant Technology Solutions Corporation (Cognizant) is a provider of custom information technology, consulting and business process outsourcing services.