Barclays Trims Cognizant Technology Solutions (NASDAQ:CTSH) Target Price to $75.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price lowered by investment analysts at Barclays from $80.00 to $75.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the information technology service provider’s stock. Barclays‘s price objective indicates a potential upside of 11.74% from the company’s current price.

Several other research firms have also weighed in on CTSH. Evercore ISI lifted their target price on Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Citigroup reduced their target price on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Monday. Susquehanna reiterated a “neutral” rating and set a $80.00 target price (down from $87.00) on shares of Cognizant Technology Solutions in a report on Monday, April 1st. Societe Generale reiterated a “sell” rating and set a $67.00 target price on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Finally, Mizuho initiated coverage on Cognizant Technology Solutions in a report on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 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 company. According to data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average price target of $76.13.

Cognizant Technology Solutions Trading Up 0.5 %

Shares of NASDAQ CTSH traded up $0.36 during midday trading on Friday, hitting $67.12. The stock had a trading volume of 298,442 shares, compared to its average volume of 4,248,542. The company’s 50-day simple moving average is $73.72 and its 200 day simple moving average is $72.51. The firm has a market cap of $33.42 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 1.54 and a beta of 1.06. Cognizant Technology Solutions has a fifty-two week low of $58.47 and a fifty-two week high of $80.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.25 and a quick ratio of 2.25.

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, topping analysts’ consensus estimates of $1.04 by $0.14. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The business had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same period in the previous year, the firm earned $1.01 earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. Research analysts anticipate that Cognizant Technology Solutions will post 4.59 EPS for the current year.

Insider Transactions at Cognizant Technology Solutions

In other news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the transaction, the executive vice president now owns 8,312 shares in the company, valued at $640,522.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Cognizant Technology Solutions by 17.0% during the 4th quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock worth $3,860,483,000 after buying an additional 7,445,089 shares during the period. JPMorgan Chase & Co. boosted its stake in Cognizant Technology Solutions by 32.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,663,814 shares of the information technology service provider’s stock valued at $1,196,547,000 after purchasing an additional 4,365,493 shares during the last quarter. Boston Partners boosted its stake in shares of Cognizant Technology Solutions by 3.0% in the 3rd quarter. Boston Partners now owns 8,056,248 shares of the information technology service provider’s stock worth $544,942,000 after buying an additional 231,782 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Cognizant Technology Solutions by 5.0% in the 3rd quarter. Northern Trust Corp now owns 6,177,547 shares of the information technology service provider’s stock worth $418,467,000 after buying an additional 294,415 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Cognizant Technology Solutions by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,433,474 shares of the information technology service provider’s stock worth $410,406,000 after buying an additional 238,551 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

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.