Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Raised to $84.00 at TD Cowen

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price lifted by research analysts at TD Cowen from $78.00 to $84.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the information technology service provider’s stock. TD Cowen’s price objective suggests a potential downside of 1.50% from the company’s previous close.

CTSH has been the subject of several other reports. Citigroup initiated coverage on shares of Cognizant Technology Solutions in a report on Thursday, October 23rd. They issued a “neutral” rating and a $75.00 price objective for the company. UBS Group restated a “neutral” rating and issued a $82.00 price objective (up from $78.00) on shares of Cognizant Technology Solutions in a report on Monday, December 8th. JPMorgan Chase & Co. upped their target price on Cognizant Technology Solutions from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Royal Bank Of Canada lowered their target price on Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating for the company in a research note on Thursday, October 30th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $84.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, October 29th. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus price target of $85.35.

Cognizant Technology Solutions Trading Down 0.6%

Shares of CTSH stock traded down $0.50 during mid-day trading on Friday, reaching $85.28. The stock had a trading volume of 1,672,662 shares, compared to its average volume of 3,274,832. The firm has a market capitalization of $41.16 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 1.61 and a beta of 0.96. The stock’s 50-day moving average price is $79.20 and its two-hundred day moving average price is $74.25. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions has a 52-week low of $65.15 and a 52-week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.09. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.32 billion. Cognizant Technology Solutions had a return on equity of 17.00% and a net margin of 10.20%.Cognizant Technology Solutions’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Equities analysts expect that Cognizant Technology Solutions will post 4.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 2,500 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $80.00, for a total value of $200,000.00. Following the completion of the transaction, the chief accounting officer owned 36,149 shares in the company, valued at $2,891,920. The trade was a 6.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ravi Kumar Singisetti sold 2,950 shares of the firm’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $85.06, for a total transaction of $250,927.00. Following the sale, the chief executive officer directly owned 75,209 shares in the company, valued at approximately $6,397,277.54. The trade was a 3.77% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 28,206 shares of company stock worth $2,336,771. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of CTSH. Vanguard Group Inc. boosted its holdings in shares of Cognizant Technology Solutions by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 60,348,442 shares of the information technology service provider’s stock valued at $4,047,570,000 after purchasing an additional 493,912 shares during the last quarter. State Street Corp boosted its stake in Cognizant Technology Solutions by 0.6% during the second quarter. State Street Corp now owns 25,381,572 shares of the information technology service provider’s stock worth $1,980,524,000 after buying an additional 157,427 shares during the period. Pzena Investment Management LLC grew its holdings in Cognizant Technology Solutions by 1.5% during the 3rd quarter. Pzena Investment Management LLC now owns 17,710,868 shares of the information technology service provider’s stock valued at $1,187,868,000 after purchasing an additional 260,177 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cognizant Technology Solutions by 1.5% in the second quarter. Geode Capital Management LLC now owns 14,019,891 shares of the information technology service provider’s stock worth $1,091,391,000 after buying an additional 206,532 shares during the period. Finally, Invesco Ltd. increased its stake in Cognizant Technology Solutions by 8.6% in the third quarter. Invesco Ltd. now owns 12,534,198 shares of the information technology service provider’s stock worth $840,669,000 after purchasing an additional 987,395 shares during the period. 92.44% of the stock is owned by institutional investors.

About Cognizant Technology Solutions

Cognizant Technology Solutions (NASDAQ: CTSH) is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.

Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.