Cognizant Technology Solutions’ (CTSH) Outperform Rating Reiterated at Wedbush

Cognizant Technology Solutions (NASDAQ:CTSH)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a report issued on Friday, Benzinga reports. They currently have a $70.00 target price on the information technology service provider’s stock. Wedbush’s price target would suggest a potential upside of 16.65% from the company’s previous close.

A number of other analysts also recently issued reports on CTSH. HSBC cut their price target on shares of Cognizant Technology Solutions from $80.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Daiwa Securities Group upped their price objective on Cognizant Technology Solutions from $42.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, September 25th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $70.00 price objective (up from $65.00) on shares of Cognizant Technology Solutions in a research report on Friday, September 18th. Robert W. Baird set a $68.00 target price on Cognizant Technology Solutions in a research report on Thursday, July 30th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Cognizant Technology Solutions in a report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $64.43.

Cognizant Technology Solutions Trading Up 5.2%

Shares of CTSH stock opened at $60.01 on Friday. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.11. Cognizant Technology Solutions has a twelve month low of $37.08 and a twelve month high of $87.03. The company’s 50-day moving average price is $59.72 and its 200-day moving average price is $54.34. The stock has a market cap of $27.03 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 1.07 and a beta of 0.86.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, July 29th. The information technology service provider reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.01). Cognizant Technology Solutions had a return on equity of 17.70% and a net margin of 10.26%.The firm had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the previous year, the business posted $1.31 earnings per share. Cognizant Technology Solutions’s revenue for the quarter 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. As a group, equities analysts predict that Cognizant Technology Solutions will post 5.74 earnings per share for the current year.

Institutional Trading of Cognizant Technology Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTSH. Pzena Investment Management LLC boosted its position in shares of 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 worth $1,243,096,000 after buying an additional 2,633,683 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Cognizant Technology Solutions by 3.6% in the 1st 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 buying an additional 222,819 shares during the period. Amundi lifted its stake in Cognizant Technology Solutions by 9.2% during the 1st 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 in the last quarter. National Bank of Canada FI lifted its stake in Cognizant Technology Solutions by 0.5% during the 4th quarter. National Bank of Canada FI now owns 5,771,093 shares of the information technology service provider’s stock worth $479,000,000 after acquiring an additional 30,811 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Cognizant Technology Solutions by 925.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,652,358 shares of the information technology service provider’s stock valued at $141,456,000 after acquiring an additional 3,296,205 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 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.