Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Free Report) gapped down before the market opened on Wednesday after BMO Capital Markets lowered their price target on the stock from $88.00 to $85.00. The stock had previously closed at $78.73, but opened at $75.64. BMO Capital Markets currently has a market perform rating on the stock. Cognizant Technology Solutions shares last traded at $77.37, with a volume of 955,543 shares traded.
A number of other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Cognizant Technology Solutions from $77.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. Redburn Atlantic initiated coverage on shares of Cognizant Technology Solutions in a report on Thursday, November 16th. They issued a “neutral” rating and a $68.00 price target on the stock. Morgan Stanley dropped their price objective on shares of Cognizant Technology Solutions from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research note 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 for the company. Finally, Societe Generale reiterated a “sell” rating and issued a $67.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $75.43.
Hedge Funds Weigh In On Cognizant Technology Solutions
Institutional investors and hedge funds have recently modified their holdings of the stock. Turtle Creek Wealth Advisors LLC bought a new stake in Cognizant Technology Solutions in the 4th quarter worth about $26,000. NBC Securities Inc. bought a new stake in shares of Cognizant Technology Solutions during the 3rd quarter valued at about $27,000. Spire Wealth Management grew its stake in shares of Cognizant Technology Solutions by 79.1% during the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 193 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Cognizant Technology Solutions by 272.1% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 573 shares of the information technology service provider’s stock valued at $37,000 after purchasing an additional 419 shares during the period. Finally, Parkside Financial Bank & Trust grew its stake in shares of Cognizant Technology Solutions by 33.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 630 shares of the information technology service provider’s stock valued at $41,000 after purchasing an additional 158 shares during the period. 90.77% of the stock is currently owned by institutional investors.
Cognizant Technology Solutions Trading Up 0.0 %
The stock has a 50 day simple moving average of $74.81 and a 200-day simple moving average of $70.66. The firm has a market capitalization of $39.49 billion, a P/E ratio of 19.13, a P/E/G ratio of 1.92 and a beta of 1.08. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.05.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.14. Cognizant Technology Solutions had a return on equity of 17.54% and a net margin of 10.75%. The company had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same period in the previous year, the firm earned $1.01 EPS. The firm’s revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.4 EPS for the current fiscal year.
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.