Cognizant Technology Solutions (NASDAQ:CTSH) PT Lowered to $77.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective lowered by stock analysts at BMO Capital Markets from $85.00 to $77.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the information technology service provider’s stock. BMO Capital Markets’ target price would suggest a potential upside of 17.79% from the stock’s current price.

Several other analysts have also recently issued reports on the stock. Citigroup decreased their target price on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Jefferies Financial Group upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and upped their target price for the company from $70.00 to $85.00 in a research report on Thursday, January 11th. Societe Generale restated a “sell” rating and set a $67.00 target price on shares of Cognizant Technology Solutions in a research report on Friday, January 5th. Susquehanna restated a “neutral” rating and set a $80.00 target price (down from $87.00) on shares of Cognizant Technology Solutions in a research report on Monday, April 1st. Finally, Barclays decreased their target price on shares of Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus price target of $75.63.

Cognizant Technology Solutions Stock Down 0.5 %

CTSH opened at $65.37 on Tuesday. The firm has a 50-day simple moving average of $72.84 and a two-hundred day simple moving average of $72.51. Cognizant Technology Solutions has a 52 week low of $58.47 and a 52 week high of $80.09. The company has a market capitalization of $32.54 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 1.52 and a beta of 1.06. 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 (NASDAQ:CTSH) last released its quarterly earnings data on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.04 by $0.14. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The business had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. The business’s revenue was down 1.7% on a year-over-year basis. Analysts forecast that Cognizant Technology Solutions will post 4.59 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total transaction of $69,354.00. Following the transaction, the executive vice president now directly owns 8,312 shares in the company, valued at $640,522.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Cognizant Technology Solutions

Several institutional investors have recently bought and sold shares of the company. Wakefield Asset Management LLLP acquired a new stake in Cognizant Technology Solutions in the first quarter valued at approximately $430,000. Klingman & Associates LLC acquired a new stake in shares of Cognizant Technology Solutions during the first quarter worth $212,000. Ascent Wealth Partners LLC lifted its stake in shares of Cognizant Technology Solutions by 15.0% during the first quarter. Ascent Wealth Partners LLC now owns 4,949 shares of the information technology service provider’s stock worth $363,000 after buying an additional 646 shares during the period. Norden Group LLC acquired a new stake in shares of Cognizant Technology Solutions during the first quarter worth $233,000. Finally, Van ECK Associates Corp raised its holdings in shares of Cognizant Technology Solutions by 15.4% during the first quarter. Van ECK Associates Corp now owns 147,345 shares of the information technology service provider’s stock worth $10,799,000 after purchasing an additional 19,690 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

About Cognizant Technology Solutions

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.