Barclays Trims Cognizant Technology Solutions (NASDAQ:CTSH) Target Price to $75.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective decreased by investment analysts at Barclays from $80.00 to $75.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the information technology service provider’s stock. Barclays‘s target price would suggest a potential upside of 12.04% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. Susquehanna reaffirmed a “neutral” rating and issued a $80.00 target price (down previously from $87.00) on shares of Cognizant Technology Solutions in a report on Monday, April 1st. Jefferies Financial Group raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and increased their price target for the company from $70.00 to $85.00 in a research note on Thursday, January 11th. Royal Bank of Canada increased their price target on Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 7th. Guggenheim assumed coverage on Cognizant Technology Solutions in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price target for the company. Finally, BMO Capital Markets decreased their price target on Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $76.13.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $66.94 on Friday. Cognizant Technology Solutions has a 12-month low of $58.47 and a 12-month high of $80.09. The business has a 50-day simple moving average of $73.52 and a two-hundred day simple moving average of $72.53. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.05. The stock has a market cap of $33.33 billion, a PE ratio of 15.94, a PEG ratio of 1.52 and a beta of 1.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.14. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The business had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. Analysts anticipate that Cognizant Technology Solutions will post 4.59 earnings per share for the current fiscal year.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the transaction, the executive vice president now owns 8,312 shares in the company, valued at $640,522.72. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTSH. Vanguard Group Inc. boosted its holdings in Cognizant Technology Solutions by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock worth $3,860,483,000 after acquiring an additional 7,445,089 shares in the last quarter. Norges Bank bought a new position in Cognizant Technology Solutions in the fourth quarter worth approximately $406,360,000. JPMorgan Chase & Co. boosted its holdings in Cognizant Technology Solutions by 32.8% in the third quarter. JPMorgan Chase & Co. now owns 17,663,814 shares of the information technology service provider’s stock worth $1,196,547,000 after acquiring an additional 4,365,493 shares in the last quarter. Cibc World Markets Corp raised its stake in shares of Cognizant Technology Solutions by 1,861.7% in the fourth quarter. Cibc World Markets Corp now owns 1,686,597 shares of the information technology service provider’s stock worth $127,389,000 after purchasing an additional 1,600,621 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Cognizant Technology Solutions by 2,083.8% in the fourth quarter. KBC Group NV now owns 1,422,912 shares of the information technology service provider’s stock worth $107,473,000 after purchasing an additional 1,357,755 shares during the last quarter. Institutional investors 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.