Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Lowered to $47.00 at TD Cowen

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price lowered by research analysts at TD Cowen from $62.00 to $47.00 in a report released on Friday,MarketScreener reports. The firm presently has a “hold” rating on the information technology service provider’s stock. TD Cowen’s target price points to a potential upside of 17.62% from the company’s current price.

Other analysts also recently issued reports about the stock. HSBC reduced their price target on shares of Cognizant Technology Solutions from $98.00 to $80.00 in a report on Thursday, April 30th. Weiss Ratings lowered Cognizant Technology Solutions from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Wedbush raised shares of Cognizant Technology Solutions from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $56.00 to $70.00 in a research note on Monday, June 8th. Citigroup upped their target price on Cognizant Technology Solutions from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, June 8th. Finally, Morgan Stanley set a $44.00 target price on shares of Cognizant Technology Solutions and gave the company an “equal weight” rating in a research report on Tuesday. Ten equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $69.70.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH traded up $0.81 during trading hours on Friday, hitting $39.96. The stock had a trading volume of 1,057,821 shares, compared to its average volume of 7,976,036. The company has a 50 day simple moving average of $51.86 and a two-hundred day simple moving average of $65.59. Cognizant Technology Solutions has a one year low of $38.97 and a one year high of $87.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.23 and a quick ratio of 2.23. The firm has a market capitalization of $18.94 billion, a price-to-earnings ratio of 8.69, a P/E/G ratio of 0.87 and a beta of 0.81.

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

Cognizant Technology Solutions declared that its Board of Directors has approved a stock repurchase program on Monday, May 18th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the information technology service provider to buy up to 9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Flagship Harbor Advisors LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter worth $28,000. Physician Wealth Advisors Inc. increased its holdings in shares of Cognizant Technology Solutions by 165.1% during the 4th quarter. Physician Wealth Advisors Inc. now owns 342 shares of the information technology service provider’s stock valued at $28,000 after acquiring an additional 213 shares during the last quarter. Lodestone Wealth Management LLC bought a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $28,000. Prosperity Bancshares Inc acquired a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $29,000. Finally, Towne Trust Company N.A raised its holdings in Cognizant Technology Solutions by 85.0% in the 4th quarter. Towne Trust Company N.A now owns 370 shares of the information technology service provider’s stock worth $31,000 after acquiring an additional 170 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Company Profile

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.