Cognizant Technology Solutions (NASDAQ:CTSH) Earns “Outperform” Rating from Wedbush

Cognizant Technology Solutions (NASDAQ:CTSH)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $70.00 target price on the information technology service provider’s stock. Wedbush’s price objective points to a potential upside of 17.15% from the company’s current price.

Other equities analysts also recently issued reports about the stock. HSBC lowered their target price on shares of Cognizant Technology Solutions from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Daiwa Securities Group increased 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. Berenberg Bank set a $59.00 price objective on Cognizant Technology Solutions and gave the company a “hold” rating in a research note on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $70.00 target price (up from $65.00) on shares of Cognizant Technology Solutions in a research report on Friday, September 18th. Finally, Robert W. Baird set a $68.00 price target on Cognizant Technology Solutions in a report on Thursday, July 30th. Ten analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $64.43.

Cognizant Technology Solutions Trading Down 0.4%

Shares of CTSH traded down $0.26 during midday trading on Friday, hitting $59.75. The stock had a trading volume of 243,118 shares, compared to its average volume of 8,026,673. The business has a 50-day simple moving average of $59.72 and a two-hundred day simple moving average of $54.34. The firm has a market cap of $26.92 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 1.07 and a beta of 0.86. 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 fifty-two week low of $37.08 and a fifty-two week high of $87.03.

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 company had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the prior year, the firm earned $1.31 earnings per share. The company’s 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. As a group, equities analysts forecast that Cognizant Technology Solutions will post 5.74 EPS for the current year.

Institutional Investors Weigh In On Cognizant Technology Solutions

Large investors have recently made changes to their positions in the stock. Mn Services Vermogensbeheer B.V. increased its holdings in Cognizant Technology Solutions by 59.6% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 224,281 shares of the information technology service provider’s stock worth $12,883,000 after purchasing an additional 83,763 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Cognizant Technology Solutions by 108.7% during the third quarter. Farther Finance Advisors LLC now owns 15,403 shares of the information technology service provider’s stock worth $885,000 after buying an additional 8,024 shares during the period. Artemis Investment Management LLP grew its holdings in shares of Cognizant Technology Solutions by 289.6% during the third quarter. Artemis Investment Management LLP now owns 2,905,584 shares of the information technology service provider’s stock worth $166,897,000 after buying an additional 2,159,704 shares in the last quarter. City Center Advisors LLC bought a new position in shares of Cognizant Technology Solutions during the third quarter worth about $277,000. Finally, Red Spruce Capital LLC acquired a new stake in Cognizant Technology Solutions in the 3rd quarter valued at approximately $447,000. Institutional investors own 92.44% of the company’s stock.

About Cognizant Technology Solutions

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.