Wedbush Reaffirms Outperform Rating for Cognizant Technology Solutions (NASDAQ:CTSH)

Cognizant Technology Solutions (NASDAQ:CTSH)‘s stock had its “outperform” rating reiterated by Wedbush in a research report issued on Thursday, Benzinga reports. They currently have a $85.00 price objective on the information technology service provider’s stock. Wedbush’s price objective would suggest a potential upside of 28.98% from the stock’s previous close.

CTSH has been the topic of several other reports. Mizuho assumed coverage on Cognizant Technology Solutions in a research report on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 price objective on the stock. Barclays dropped their price target on shares of Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Susquehanna cut their target price on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Thursday. BMO Capital Markets decreased their price objective on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a report on Tuesday. Finally, Evercore ISI boosted their target price on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $75.50.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH traded up $0.53 during mid-day trading on Thursday, hitting $65.90. 915,146 shares of the company traded hands, compared to its average volume of 4,247,800. The stock’s fifty day moving average price is $72.84 and its 200-day moving average price is $72.51. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions has a one year low of $58.81 and a one year high of $80.09. The firm has a market cap of $32.81 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 1.50 and a beta of 1.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.14. The company had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.76 billion. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.01 EPS. Research analysts anticipate that Cognizant Technology Solutions will post 4.59 earnings per share for the current fiscal year.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the transaction, the executive vice president now directly owns 8,312 shares of the company’s stock, valued at approximately $640,522.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth $26,000. NBC Securities Inc. acquired a new position in shares of Cognizant Technology Solutions in the third quarter worth approximately $27,000. Spire Wealth Management increased its position in Cognizant Technology Solutions by 79.1% during the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 193 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $40,000. Finally, Quarry LP bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at $43,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.