Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Lowered to $61.00 at Wells Fargo & Company

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective cut by investment analysts at Wells Fargo & Company from $83.00 to $61.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the information technology service provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 40.55% from the company’s current price.

CTSH has been the topic of a number of other research reports. Nomura decreased their price target on Cognizant Technology Solutions from $93.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. The Goldman Sachs Group set a $75.00 price objective on shares of Cognizant Technology Solutions in a research report on Wednesday, April 29th. Dbs Bank reduced their price objective on shares of Cognizant Technology Solutions from $80.00 to $66.00 in a research note on Thursday, May 7th. Susquehanna lowered their price target on Cognizant Technology Solutions from $98.00 to $88.00 and set a “positive” rating for the company in a report on Friday, May 1st. Finally, Truist Financial initiated coverage on Cognizant Technology Solutions in a research report on Monday, June 1st. They set a “hold” rating and a $66.00 price objective for the company. Eleven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus price target of $66.65.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $43.40 on Friday. Cognizant Technology Solutions has a 52 week low of $37.08 and a 52 week high of $87.03. The company has a market capitalization of $20.57 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 0.89 and a beta of 0.87. The company has a 50-day simple moving average of $48.50 and a 200 day simple moving average of $62.63. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.23 and a current ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.07. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.41 billion. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.23 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. On average, sell-side analysts predict that Cognizant Technology Solutions will post 5.7 earnings per share for the current year.

Cognizant Technology Solutions announced that its Board of Directors has authorized a stock repurchase plan on Monday, May 18th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information technology service provider to buy up to 9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. JPL Wealth Management LLC bought a new stake in Cognizant Technology Solutions in the third quarter valued at approximately $25,000. Lodestone Wealth Management LLC bought a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $28,000. Flagship Harbor Advisors LLC acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $28,000. Physician Wealth Advisors Inc. lifted its position in shares of Cognizant Technology Solutions by 165.1% in the 4th quarter. Physician Wealth Advisors Inc. now owns 342 shares of the information technology service provider’s stock worth $28,000 after purchasing an additional 213 shares during the period. Finally, Prosperity Bancshares Inc bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at $29,000. 92.44% of the stock is owned by institutional investors and hedge funds.

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.