Citigroup Cuts Cognizant Technology Solutions (NASDAQ:CTSH) Price Target to $68.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price decreased by research analysts at Citigroup from $86.00 to $68.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the information technology service provider’s stock. Citigroup’s price target would indicate a potential upside of 10.62% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on CTSH. Argus raised Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, February 10th. Wells Fargo & Company reiterated an “overweight” rating and set a $98.00 price objective (up from $87.00) on shares of Cognizant Technology Solutions in a research note on Wednesday, January 14th. Mizuho set a $87.00 price objective on Cognizant Technology Solutions in a research note on Monday, February 9th. Morgan Stanley boosted their price objective on Cognizant Technology Solutions from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Finally, BMO Capital Markets set a $83.00 price objective on Cognizant Technology Solutions in a research note on Thursday, February 12th. Nine research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, Cognizant Technology Solutions currently has an average rating of “Hold” and an average price target of $87.78.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock traded down $0.88 on Tuesday, hitting $61.47. The company had a trading volume of 1,927,369 shares, compared to its average volume of 6,450,292. The firm has a market cap of $29.40 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98. The company has a 50-day moving average price of $66.62 and a 200-day moving average price of $72.80. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions has a twelve month low of $58.83 and a twelve month high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, February 4th. The information technology service provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.03. The business had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.31 billion. Cognizant Technology Solutions had a return on equity of 17.17% and a net margin of 10.56%.The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.560-5.700 EPS. As a group, equities research analysts predict that Cognizant Technology Solutions will post 4.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, Director Michael Patsalos-Fox sold 2,000 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $84.23, for a total transaction of $168,460.00. Following the transaction, the director directly owned 29,729 shares in the company, valued at $2,504,073.67. This represents a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Surya Gummadi sold 1,728 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $83.06, for a total value of $143,527.68. Following the transaction, the insider owned 25,641 shares in the company, valued at $2,129,741.46. This trade represents a 6.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,859 shares of company stock worth $319,950 over the last 90 days. 0.32% of the stock is owned by insiders.

Institutional Trading of Cognizant Technology Solutions

Several hedge funds have recently modified their holdings of CTSH. Norges Bank acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at $690,959,000. GQG Partners LLC acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at $673,651,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Cognizant Technology Solutions in the third quarter valued at $201,834,000. Cibc World Markets Corp acquired a new stake in Cognizant Technology Solutions in the fourth quarter valued at $234,671,000. Finally, FIL Ltd raised its stake in Cognizant Technology Solutions by 46.6% in the fourth quarter. FIL Ltd now owns 6,680,508 shares of the information technology service provider’s stock valued at $554,482,000 after buying an additional 2,122,600 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Company Profile

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.