Cognizant Technology Solutions (NASDAQ:CTSH) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective lifted by research analysts at Robert W. Baird from $78.00 to $80.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the information technology service provider’s stock. Robert W. Baird’s price objective suggests a potential upside of 7.22% from the stock’s previous close.

Several other research analysts have also recently issued reports on CTSH. Barclays increased their price objective on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their price objective on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. Jefferies Financial Group initiated coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price target for the company. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, twenty have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $77.70.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock opened at $74.61 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46. The stock has a market capitalization of $36.98 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.09 and a beta of 1.05. The firm’s fifty day simple moving average is $76.36 and its 200-day simple moving average is $71.99. Cognizant Technology Solutions has a 12 month low of $62.14 and a 12 month high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.11. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.37%. The firm had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the prior year, the company posted $1.16 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts forecast that Cognizant Technology Solutions will post 4.62 earnings per share for the current year.

Insider Activity at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction of $495,584.48. Following the completion of the transaction, the chief executive officer now owns 46,427 shares of the company’s stock, valued at $3,419,812.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blair William & Co. IL grew its stake in shares of Cognizant Technology Solutions by 2.5% during the 1st quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock valued at $1,231,000 after buying an additional 412 shares during the period. Duality Advisers LP acquired a new stake in Cognizant Technology Solutions during the first quarter worth about $1,687,000. Norden Group LLC purchased a new position in shares of Cognizant Technology Solutions in the 1st quarter worth about $233,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Cognizant Technology Solutions by 8.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 650,385 shares of the information technology service provider’s stock valued at $47,667,000 after purchasing an additional 53,061 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of Cognizant Technology Solutions by 135.4% in the 1st quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider’s stock valued at $2,441,000 after purchasing an additional 19,157 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.