Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Lowered to $81.00 at JPMorgan Chase & Co.

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective decreased by research analysts at JPMorgan Chase & Co. from $92.00 to $81.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the information technology service provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 10.10% from the stock’s previous close.

CTSH has been the subject of a number of other research reports. Robert W. Baird reduced their target price on shares of Cognizant Technology Solutions from $90.00 to $78.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Susquehanna dropped their price target on shares of Cognizant Technology Solutions from $82.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. Mizuho upgraded Cognizant Technology Solutions to a “hold” rating in a research note on Wednesday, March 19th. Guggenheim reissued a “neutral” rating on shares of Cognizant Technology Solutions in a report on Wednesday, April 23rd. Finally, Morgan Stanley cut their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Fifteen analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $83.13.

Cognizant Technology Solutions Trading Up 0.4 %

Shares of Cognizant Technology Solutions stock opened at $73.57 on Tuesday. Cognizant Technology Solutions has a 1 year low of $63.79 and a 1 year high of $90.82. The company has a market capitalization of $36.39 billion, a price-to-earnings ratio of 16.31, a P/E/G ratio of 2.11 and a beta of 1.03. The business has a fifty day simple moving average of $76.09 and a two-hundred day simple moving average of $78.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the prior year, the business earned $1.12 EPS. Cognizant Technology Solutions’s quarterly revenue was up 7.5% on a year-over-year basis. Research analysts forecast that Cognizant Technology Solutions will post 4.98 EPS for the current year.

Cognizant Technology Solutions announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 25th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the information technology service provider to buy up to 5.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Cognizant Technology Solutions by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 59,028,485 shares of the information technology service provider’s stock valued at $4,539,290,000 after purchasing an additional 515,881 shares during the period. Geode Capital Management LLC boosted its stake in Cognizant Technology Solutions by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 13,437,687 shares of the information technology service provider’s stock valued at $1,032,239,000 after buying an additional 157,464 shares during the period. FMR LLC grew its holdings in shares of Cognizant Technology Solutions by 1.1% during the fourth quarter. FMR LLC now owns 11,147,006 shares of the information technology service provider’s stock worth $857,205,000 after purchasing an additional 123,745 shares in the last quarter. Invesco Ltd. lifted its position in Cognizant Technology Solutions by 2.8% during the fourth quarter. Invesco Ltd. now owns 10,655,180 shares of the information technology service provider’s stock valued at $819,383,000 after purchasing an additional 287,973 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth $527,719,000. Hedge funds and other 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.