Wedbush Reaffirms Outperform Rating for Cognizant Technology Solutions (NASDAQ:CTSH)

Cognizant Technology Solutions (NASDAQ:CTSH)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a research note issued on Friday, Benzinga reports. They currently have a $70.00 price target on the information technology service provider’s stock. Wedbush’s price objective suggests a potential upside of 23.55% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. Royal Bank Of Canada set a $55.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, July 24th. JPMorgan Chase & Co. dropped their price target on shares of Cognizant Technology Solutions from $74.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, July 24th. HSBC dropped their price target on shares of Cognizant Technology Solutions from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Daiwa Securities Group lifted their price target on shares of Cognizant Technology Solutions from $42.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, September 25th. Finally, Morgan Stanley reaffirmed a “negative” rating and set a $51.00 price target (up from $44.00) on shares of Cognizant Technology Solutions in a research note on Thursday, July 30th. Ten analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus price target of $64.43.

Cognizant Technology Solutions Trading Down 1.0%

NASDAQ CTSH traded down $0.57 during mid-day trading on Friday, hitting $56.66. The company’s stock had a trading volume of 715,664 shares, compared to its average volume of 8,033,461. Cognizant Technology Solutions has a 52-week low of $37.08 and a 52-week high of $87.03. The stock’s fifty day simple moving average is $59.58 and its two-hundred day simple moving average is $54.38. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.18 and a quick ratio of 2.18. The firm has a market capitalization of $25.52 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 1.09 and a beta of 0.86.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, July 29th. The information technology service provider reported $1.37 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.01). Cognizant Technology Solutions had a net margin of 10.26% and a return on equity of 17.70%. The business had revenue of $5.48 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the previous year, the business posted $1.31 EPS. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. Research analysts expect that Cognizant Technology Solutions will post 5.74 EPS for the current year.

Institutional Trading of Cognizant Technology Solutions

Institutional investors have recently added to or reduced their stakes in the business. Pzena Investment Management LLC increased its stake in Cognizant Technology Solutions by 14.9% during the first quarter. Pzena Investment Management LLC now owns 20,262,362 shares of the information technology service provider’s stock valued at $1,243,096,000 after purchasing an additional 2,633,683 shares during the last quarter. Capital Research Global Investors increased its stake in Cognizant Technology Solutions by 2.2% during the fourth quarter. Capital Research Global Investors now owns 6,356,349 shares of the information technology service provider’s stock valued at $527,577,000 after purchasing an additional 139,437 shares during the last quarter. National Bank of Canada FI increased its stake in Cognizant Technology Solutions by 0.5% during the fourth quarter. National Bank of Canada FI now owns 5,771,093 shares of the information technology service provider’s stock valued at $479,000,000 after purchasing an additional 30,811 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Cognizant Technology Solutions by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,404,918 shares of the information technology service provider’s stock valued at $392,947,000 after purchasing an additional 222,819 shares during the last quarter. Finally, Amundi grew its position in shares of Cognizant Technology Solutions by 9.2% during the first quarter. Amundi now owns 6,177,881 shares of the information technology service provider’s stock worth $379,013,000 after acquiring an additional 520,532 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation (NASDAQ: CTSH) is a global professional services and information technology company that helps businesses modernize their operations and technology infrastructure. Its services include IT consulting, systems integration, application development and modernization, cloud computing, data and analytics, artificial intelligence, cybersecurity, and digital engineering.

The company also provides business process services and industry-specific solutions for sectors such as financial services, healthcare, life sciences, manufacturing, retail, communications, and information technology.