Cognizant Technology Solutions (NASDAQ:CTSH) PT Lowered to $78.00 at Susquehanna

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target reduced by investment analysts at Susquehanna from $80.00 to $78.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the information technology service provider’s stock. Susquehanna’s price objective would suggest a potential upside of 17.74% from the stock’s current price.

CTSH has been the subject of a number of other research reports. Wolfe Research raised shares of Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Guggenheim assumed coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, March 19th. They set a “neutral” rating and a $80.00 target price on the stock. Jefferies Financial Group raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and raised their target price for the stock from $70.00 to $85.00 in a report on Thursday, January 11th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday. Finally, Societe Generale reaffirmed a “sell” rating and issued a $67.00 price objective on shares of Cognizant Technology Solutions in a report on Friday, January 5th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus price target of $75.63.

Cognizant Technology Solutions Stock Performance

CTSH traded down $0.02 on Thursday, reaching $66.25. The company had a trading volume of 7,399,746 shares, compared to its average volume of 3,943,487. The stock has a market cap of $32.98 billion, a P/E ratio of 15.93, a P/E/G ratio of 1.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.25 and a current ratio of 2.35. Cognizant Technology Solutions has a fifty-two week low of $60.26 and a fifty-two week high of $80.09. The company’s fifty day moving average is $72.31 and its 200 day moving average is $72.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.11 by $0.01. The company had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.11 earnings per share. As a group, analysts predict that Cognizant Technology Solutions will post 4.59 earnings per share for the current fiscal year.

Insider Buying and Selling

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 directly owns 8,312 shares in the company, valued at approximately $640,522.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vision Capital Management Inc. lifted its holdings in Cognizant Technology Solutions by 0.4% during the 4th quarter. Vision Capital Management Inc. now owns 38,612 shares of the information technology service provider’s stock worth $2,916,000 after buying an additional 144 shares during the period. Nilsine Partners LLC lifted its stake in shares of Cognizant Technology Solutions by 4.3% in the fourth quarter. Nilsine Partners LLC now owns 3,756 shares of the information technology service provider’s stock worth $284,000 after acquiring an additional 156 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Cognizant Technology Solutions by 26.5% in the third quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock valued at $52,000 after acquiring an additional 162 shares during the last quarter. Sound View Wealth Advisors Group LLC increased its position in Cognizant Technology Solutions by 5.4% during the 3rd quarter. Sound View Wealth Advisors Group LLC now owns 3,241 shares of the information technology service provider’s stock valued at $220,000 after purchasing an additional 165 shares during the period. Finally, Unison Advisors LLC raised its holdings in Cognizant Technology Solutions by 0.6% during the 1st quarter. Unison Advisors LLC now owns 29,226 shares of the information technology service provider’s stock worth $2,142,000 after purchasing an additional 172 shares during the last quarter. 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.