Morgan Stanley Issues Positive Forecast for Cognizant Technology Solutions (NASDAQ:CTSH) Stock Price

Cognizant Technology Solutions (NASDAQ:CTSH - Free Report) had its target price boosted by Morgan Stanley from $75.00 to $80.00 in a research report report published on Friday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the information technology service provider's stock.

Other equities analysts also recently issued reports about the stock. StockNews.com downgraded shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. Barclays upgraded Cognizant Technology Solutions from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $80.00 to $95.00 in a research note on Tuesday, December 17th. Mizuho boosted their target price on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Finally, TD Cowen increased their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a "hold" rating in a research note on Thursday, October 31st. Seventeen analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $81.39.

Cognizant Technology Solutions Stock Performance

Shares of CTSH traded up $0.64 on Friday, reaching $83.54. 3,638,141 shares of the company's stock traded hands, compared to its average volume of 2,766,787. The stock's 50 day simple moving average is $79.20 and its two-hundred day simple moving average is $77.34. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions has a 52-week low of $63.79 and a 52-week high of $83.97. The stock has a market cap of $41.42 billion, a PE ratio of 18.48, a PEG ratio of 2.21 and a beta of 1.07.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the transaction, the chief accounting officer now directly owns 39,022 shares of the company's stock, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of large investors have recently added to or reduced their stakes in CTSH. Addison Advisors LLC grew its holdings in shares of Cognizant Technology Solutions by 127.7% in the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider's stock worth $26,000 after purchasing an additional 189 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Cognizant Technology Solutions in the third quarter valued at about $30,000. Trust Co. of Vermont raised its stake in shares of Cognizant Technology Solutions by 188.4% during the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider's stock valued at $34,000 after acquiring an additional 292 shares during the last quarter. Pinnacle Bancorp Inc. boosted its holdings in shares of Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider's stock worth $35,000 after purchasing an additional 146 shares during the period. Finally, Eastern Bank bought a new stake in shares of Cognizant Technology Solutions in the third quarter worth about $37,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

About Cognizant Technology Solutions

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.