Susquehanna Lowers Cognizant Technology Solutions (NASDAQ:CTSH) Price Target to $78.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price decreased by investment analysts at Susquehanna from $80.00 to $78.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the information technology service provider’s stock. Susquehanna’s price objective suggests a potential upside of 17.74% from the company’s current price.

A number of other research analysts also recently weighed in on the company. Barclays cut their price objective on Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday. Evercore ISI raised their target price on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. Jefferies Financial Group raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and boosted their target price for the stock from $70.00 to $85.00 in a research report on Thursday, January 11th. Finally, Mizuho began coverage on Cognizant Technology Solutions in a research report on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 price target on the stock. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus price target of $75.63.

Cognizant Technology Solutions Stock Down 0.0 %

CTSH stock traded down $0.02 during trading hours on Thursday, hitting $66.25. The company’s stock had a trading volume of 7,399,746 shares, compared to its average volume of 3,943,487. The stock has a 50 day moving average price of $72.31 and a two-hundred day moving average price of $72.46. Cognizant Technology Solutions has a 12 month low of $60.26 and a 12 month high of $80.09. The company has a market capitalization of $32.98 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.51 and a beta of 1.08. The company has a quick ratio of 2.25, a current ratio of 2.35 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The firm had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.72 billion. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. Cognizant Technology Solutions’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.11 earnings per share. On average, equities research analysts expect that Cognizant Technology Solutions will post 4.59 earnings per share for the current year.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the sale, the executive vice president now directly owns 8,312 shares in the company, valued at $640,522.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.27% of the stock is currently owned by insiders.

Institutional Trading of Cognizant Technology Solutions

Several large investors have recently added to or reduced their stakes in CTSH. Exchange Traded Concepts LLC increased its holdings in Cognizant Technology Solutions by 26.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock valued at $52,000 after purchasing an additional 162 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Cognizant Technology Solutions by 8.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 198,317 shares of the information technology service provider’s stock valued at $13,434,000 after buying an additional 15,441 shares during the last quarter. Xponance Inc. lifted its position in Cognizant Technology Solutions by 2.4% during the 3rd quarter. Xponance Inc. now owns 64,251 shares of the information technology service provider’s stock worth $4,352,000 after buying an additional 1,499 shares in the last quarter. Raymond James & Associates grew its holdings in Cognizant Technology Solutions by 1.0% during the 3rd quarter. Raymond James & Associates now owns 434,244 shares of the information technology service provider’s stock worth $29,416,000 after acquiring an additional 4,092 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in Cognizant Technology Solutions by 8.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 38,932 shares of the information technology service provider’s stock valued at $2,637,000 after acquiring an additional 3,088 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Company Profile

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.