Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Raised to $103.00 at Barclays

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price lifted by stock analysts at Barclays from $95.00 to $103.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the information technology service provider’s stock. Barclays‘s price objective suggests a potential upside of 19.49% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Mizuho upped their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. TD Cowen boosted their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. BMO Capital Markets lifted their target price on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Morgan Stanley increased their price target on Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday. Sixteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $83.67.

Cognizant Technology Solutions Trading Down 1.0 %

Shares of Cognizant Technology Solutions stock opened at $86.20 on Monday. The company’s fifty day moving average price is $79.55 and its two-hundred day moving average price is $77.62. The firm has a market capitalization of $42.74 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 2.32 and a beta of 1.07. Cognizant Technology Solutions has a 52-week low of $63.79 and a 52-week high of $87.61. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. On average, analysts expect that Cognizant Technology Solutions will post 4.99 EPS for the current year.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the sale, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at $3,126,052.42. This represents a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CTSH. State Street Corp boosted its position in shares of Cognizant Technology Solutions by 3.6% during the third quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock worth $1,928,405,000 after purchasing an additional 867,176 shares in the last quarter. Geode Capital Management LLC grew its stake in Cognizant Technology Solutions by 1.3% in the third quarter. Geode Capital Management LLC now owns 13,280,223 shares of the information technology service provider’s stock valued at $1,022,728,000 after acquiring an additional 173,667 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Cognizant Technology Solutions by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,348,102 shares of the information technology service provider’s stock worth $257,469,000 after acquiring an additional 103,371 shares in the last quarter. ING Groep NV raised its position in shares of Cognizant Technology Solutions by 17.9% during the fourth quarter. ING Groep NV now owns 2,921,900 shares of the information technology service provider’s stock worth $224,694,000 after purchasing an additional 443,536 shares during the period. Finally, Cibc World Market Inc. lifted its holdings in shares of Cognizant Technology Solutions by 34.0% during the 4th quarter. Cibc World Market Inc. now owns 2,784,668 shares of the information technology service provider’s stock valued at $214,141,000 after purchasing an additional 705,946 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.