Guggenheim Cuts Cognizant Technology Solutions (NASDAQ:CTSH) Price Target to $85.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price reduced by Guggenheim from $100.00 to $85.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the information technology service provider’s stock.

Several other equities analysts have also weighed in on CTSH. Weiss Ratings lowered shares of Cognizant Technology Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $98.00 target price (up from $87.00) on shares of Cognizant Technology Solutions in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Monday, January 26th. Royal Bank Of Canada lifted their target price on shares of Cognizant Technology Solutions from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Thursday, February 5th. Finally, Citigroup cut their target price on shares of Cognizant Technology Solutions from $86.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Eight equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $84.39.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH opened at $55.11 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.14 and a quick ratio of 2.14. The firm has a market cap of $26.36 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 1.20 and a beta of 0.98. The company has a 50 day moving average price of $61.80 and a 200-day moving average price of $71.96. Cognizant Technology Solutions has a 1-year low of $54.26 and a 1-year high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, February 4th. The information technology service provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.03. The firm had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.31 billion. Cognizant Technology Solutions had a net margin of 10.56% and a return on equity of 17.17%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.560-5.700 EPS. Equities research analysts forecast that Cognizant Technology Solutions will post 5.65 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Wednesday, February 18th were paid a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $1.32 dividend on an annualized basis and a yield of 2.4%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.31. Cognizant Technology Solutions’s dividend payout ratio is 29.01%.

Insider Transactions at Cognizant Technology Solutions

In related news, insider Surya Gummadi sold 1,728 shares of Cognizant Technology Solutions stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $83.06, for a total value of $143,527.68. Following the sale, the insider owned 25,641 shares of the company’s stock, valued at approximately $2,129,741.46. This trade represents a 6.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of institutional investors have recently added to or reduced their stakes in the stock. JPL Wealth Management LLC acquired a new stake in Cognizant Technology Solutions during the 3rd quarter worth $25,000. Lodestone Wealth Management LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth $28,000. Flagship Harbor Advisors LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth $28,000. Physician Wealth Advisors Inc. boosted its stake in Cognizant Technology Solutions by 165.1% during the 4th quarter. Physician Wealth Advisors Inc. now owns 342 shares of the information technology service provider’s stock worth $28,000 after purchasing an additional 213 shares during the last quarter. Finally, Prosperity Bancshares Inc acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth $29,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions (NASDAQ: CTSH) is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.

Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.