Barclays Raises Cognizant Technology Solutions (NASDAQ:CTSH) Price Target to $103.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective raised by investment analysts at Barclays from $95.00 to $103.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the information technology service provider’s stock. Barclays‘s price objective suggests a potential upside of 17.22% from the stock’s current price.

A number of other research analysts 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 report on Friday, November 1st. TD Cowen lifted their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. UBS Group raised their price objective on Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. BMO Capital Markets raised their target price on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research report on Thursday, February 6th. Finally, Robert W. Baird raised 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, October 31st. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.67.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $87.87 on Monday. The company has a market cap of $43.57 billion, a P/E ratio of 19.48, a P/E/G ratio of 2.32 and a beta of 1.07. The company has a quick ratio of 2.23, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions has a 52 week low of $63.79 and a 52 week high of $88.06. The business has a fifty day simple moving average of $79.67 and a 200-day simple moving average of $77.75.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. Equities research analysts forecast that Cognizant Technology Solutions will post 4.99 EPS for the current year.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the transaction, the chief accounting officer now directly owns 39,022 shares in the company, valued at approximately $3,126,052.42. The trade was a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

Institutional investors have recently made changes to their positions in the business. Brookstone Capital Management raised its position in shares of Cognizant Technology Solutions by 26.3% during the 3rd quarter. Brookstone Capital Management now owns 4,576 shares of the information technology service provider’s stock valued at $353,000 after acquiring an additional 952 shares during the last quarter. Gateway Investment Advisers LLC raised its holdings in shares of Cognizant Technology Solutions by 38.1% in the 3rd quarter. Gateway Investment Advisers LLC now owns 6,494 shares of the information technology service provider’s stock valued at $501,000 after purchasing an additional 1,792 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of Cognizant Technology Solutions in the 3rd quarter valued at about $161,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Cognizant Technology Solutions in the 3rd quarter valued at about $193,000. Finally, CX Institutional raised its holdings in shares of Cognizant Technology Solutions by 5.3% in the 3rd quarter. CX Institutional now owns 4,066 shares of the information technology service provider’s stock valued at $314,000 after purchasing an additional 205 shares during the period. 92.44% of the stock is currently owned by 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.