Cognizant Technology Solutions (NASDAQ:CTSH) Upgraded to Overweight at Barclays

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) was upgraded by Barclays from an "equal weight" rating to an "overweight" rating in a research report issued on Tuesday, Marketbeat reports. The brokerage currently has a $95.00 price target on the information technology service provider's stock, up from their prior price target of $80.00. Barclays's price target would suggest a potential upside of 17.24% from the stock's current price.

A number of other research firms have also recently commented on CTSH. Mizuho increased their target price on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. TD Cowen increased their price objective 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. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $76.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. Royal Bank of Canada boosted their price objective on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Cognizant Technology Solutions currently has a consensus rating of "Hold" and an average target price of $80.35.

Cognizant Technology Solutions Trading Up 0.4 %

Shares of NASDAQ:CTSH traded up $0.33 on Tuesday, hitting $81.03. The company had a trading volume of 3,367,977 shares, compared to its average volume of 3,745,933. Cognizant Technology Solutions has a 1 year low of $63.79 and a 1 year high of $82.46. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The firm's 50-day simple moving average is $78.34 and its two-hundred day simple moving average is $74.74. The firm has a market capitalization of $40.18 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 2.24 and a beta of 1.06.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.15 by $0.10. The firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The business's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.16 EPS. Equities analysts anticipate that Cognizant Technology Solutions will post 4.66 earnings per share for the current fiscal year.

Insider Activity 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 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 completion of the transaction, the chief accounting officer now directly owns 39,022 shares of the company's stock, valued at $3,126,052.42. The trade was a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 made changes to their positions in CTSH. Pinnacle Bancorp Inc. boosted its position 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 valued at $35,000 after buying an additional 146 shares during the period. Benjamin Edwards Inc. boosted its holdings in Cognizant Technology Solutions by 42.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider's stock valued at $36,000 after acquiring an additional 158 shares during the period. Addison Advisors LLC grew its position in Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider's stock valued at $26,000 after acquiring an additional 189 shares during the last quarter. Meeder Asset Management Inc. increased its stake in Cognizant Technology Solutions by 32.5% in the third quarter. Meeder Asset Management Inc. now owns 786 shares of the information technology service provider's stock worth $61,000 after purchasing an additional 193 shares during the period. Finally, V Square Quantitative Management LLC increased its stake in Cognizant Technology Solutions by 1.8% in the third quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider's stock worth $862,000 after purchasing an additional 194 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

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.