BMO Capital Markets Trims Cognizant Technology Solutions (NASDAQ:CTSH) Target Price to $85.00

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) had its price target decreased by BMO Capital Markets from $88.00 to $85.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the information technology service provider’s stock. BMO Capital Markets’ price target would suggest a potential upside of 8.56% from the company’s previous close.

A number of other brokerages have also recently weighed in on CTSH. Wolfe Research raised shares of Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. UBS Group assumed coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, November 7th. They set a “neutral” rating and a $70.00 price target for the company. JPMorgan Chase & Co. decreased their price target on shares of Cognizant Technology Solutions from $77.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, November 2nd. Mizuho started coverage on shares of Cognizant Technology Solutions in a report on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 price objective on the stock. Finally, Barclays boosted their price objective on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cognizant Technology Solutions has a consensus rating of “Hold” and an average target price of $75.43.

View Our Latest Stock Report on CTSH

Cognizant Technology Solutions Stock Up 0.4 %

Shares of NASDAQ CTSH opened at $78.30 on Wednesday. Cognizant Technology Solutions has a 52-week low of $56.45 and a 52-week high of $78.93. The firm has a fifty day moving average of $75.13 and a 200-day moving average of $70.76. The stock has a market capitalization of $39.26 billion, a PE ratio of 18.64, a P/E/G ratio of 1.94 and a beta of 1.08. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.05.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.14. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.97%. The firm had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same period in the prior year, the company earned $1.01 EPS. The firm’s revenue was down 1.7% on a year-over-year basis. On average, analysts anticipate that Cognizant Technology Solutions will post 4.6 EPS for the current year.

Institutional Investors Weigh In On Cognizant Technology Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vision Capital Management Inc. raised its stake in Cognizant Technology Solutions by 0.4% during the fourth quarter. Vision Capital Management Inc. now owns 38,612 shares of the information technology service provider’s stock worth $2,916,000 after acquiring an additional 144 shares during the period. Zions Bancorporation N.A. raised its stake in Cognizant Technology Solutions by 29.9% during the first quarter. Zions Bancorporation N.A. now owns 651 shares of the information technology service provider’s stock worth $58,000 after acquiring an additional 150 shares during the period. Synovus Financial Corp grew its position in Cognizant Technology Solutions by 0.8% in the 2nd quarter. Synovus Financial Corp now owns 20,494 shares of the information technology service provider’s stock worth $1,338,000 after purchasing an additional 156 shares during the last quarter. Nilsine Partners LLC grew its position in Cognizant Technology Solutions by 4.3% in the 4th quarter. Nilsine Partners LLC now owns 3,756 shares of the information technology service provider’s stock worth $284,000 after purchasing an additional 156 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its position in Cognizant Technology Solutions by 33.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 630 shares of the information technology service provider’s stock worth $41,000 after purchasing an additional 158 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Cognizant Technology Solutions Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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