Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Cut to $77.00 by Analysts at BMO Capital Markets

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price reduced by equities researchers at BMO Capital Markets from $85.00 to $77.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “market perform” rating on the information technology service provider’s stock. BMO Capital Markets’ target price points to a potential upside of 16.09% from the stock’s previous close.

A number of other analysts also recently commented on the stock. Jefferies Financial Group raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $70.00 to $85.00 in a report on Thursday, January 11th. Royal Bank of Canada upped their price target on Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 7th. Societe Generale reaffirmed a “sell” rating and set a $67.00 price objective on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Barclays dropped their price target on Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Guggenheim began coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price target on the stock. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $75.63.

Cognizant Technology Solutions Stock Performance

CTSH traded down $0.20 on Tuesday, hitting $66.33. 508,379 shares of the company traded hands, compared to its average volume of 4,243,774. Cognizant Technology Solutions has a 12-month low of $58.47 and a 12-month high of $80.09. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average of $73.31 and a 200-day moving average of $72.56. The stock has a market capitalization of $33.02 billion, a PE ratio of 15.84, a PEG ratio of 1.53 and a beta of 1.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.14. The firm had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.76 billion. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 earnings per share. Sell-side analysts anticipate that Cognizant Technology Solutions will post 4.59 earnings per share for the current year.

Insider Activity

In other news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the transaction, the executive vice president now owns 8,312 shares of the company’s stock, valued at $640,522.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC bought a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at about $26,000. NBC Securities Inc. bought a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth $27,000. Spire Wealth Management boosted its stake in shares of Cognizant Technology Solutions by 79.1% during the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 193 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $40,000. Finally, Quarry LP purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at $43,000. Institutional investors and hedge funds 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.