TD Cowen Forecasts Strong Price Appreciation for Cognizant Technology Solutions (NASDAQ:CTSH) Stock

Cognizant Technology Solutions (NASDAQ:CTSH - Free Report) had its price objective raised by TD Cowen from $75.00 to $76.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a hold rating on the information technology service provider's stock.

Several other brokerages have also issued reports on CTSH. Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a "buy" rating and a $90.00 price target on the stock. Bank of America raised Cognizant Technology Solutions from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. The Goldman Sachs Group reissued a "neutral" rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Robert W. Baird upped their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday. One investment analyst has rated the stock with a sell rating, twenty have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $77.60.

Cognizant Technology Solutions Trading Up 0.3 %

CTSH stock traded up $0.24 during trading on Thursday, hitting $74.59. The company had a trading volume of 6,073,172 shares, compared to its average volume of 3,825,773. The business has a 50-day moving average of $76.40 and a 200-day moving average of $71.94. Cognizant Technology Solutions has a one year low of $62.14 and a one year high of $80.27. The stock has a market cap of $36.97 billion, a PE ratio of 16.99, a PEG ratio of 2.16 and a beta of 1.05. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.11. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. The company's revenue was up 3.0% compared to the same quarter last year. Research analysts predict that Cognizant Technology Solutions will post 4.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the transaction, the chief executive officer now owns 46,427 shares in the company, valued at $3,419,812.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.26% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Blair William & Co. IL grew its stake in Cognizant Technology Solutions by 2.5% in the 1st quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider's stock valued at $1,231,000 after purchasing an additional 412 shares during the period. Duality Advisers LP bought a new position in shares of Cognizant Technology Solutions during the 1st quarter worth $1,687,000. Norden Group LLC bought a new position in shares of Cognizant Technology Solutions during the 1st quarter worth $233,000. State Board of Administration of Florida Retirement System grew its stake in shares of Cognizant Technology Solutions by 8.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 650,385 shares of the information technology service provider's stock worth $47,667,000 after acquiring an additional 53,061 shares during the period. Finally, Cetera Investment Advisers grew its stake in shares of Cognizant Technology Solutions by 135.4% during the 1st quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider's stock worth $2,441,000 after acquiring an additional 19,157 shares during the period. 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.