Cognizant Technology Solutions (NASDAQ:CTSH) Receives New Coverage from Analysts at The Goldman Sachs Group

Analysts at The Goldman Sachs Group initiated coverage on shares of Cognizant Technology Solutions (NASDAQ:CTSH) in a research report issued to clients and investors on Monday, Briefing.com reports. The firm set a “neutral” rating and a $72.00 price target on the information technology service provider’s stock. The Goldman Sachs Group’s target price points to a potential upside of 5.36% from the stock’s current price.

CTSH has been the subject of a number of other research reports. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Citigroup lowered their price target on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Susquehanna lowered their price target on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. BMO Capital Markets lowered their price target on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. Finally, Guggenheim initiated coverage on Cognizant Technology Solutions in a report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price target for the company. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.44.

Cognizant Technology Solutions Trading Up 0.3 %

NASDAQ CTSH opened at $68.34 on Monday. The stock has a 50-day simple moving average of $67.07 and a 200 day simple moving average of $72.45. The company has a market capitalization of $33.98 billion, a PE ratio of 16.43, a P/E/G ratio of 2.04 and a beta of 1.04. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions has a 12 month low of $61.23 and a 12 month high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. The business had revenue of $4.76 billion during 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 was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.11 earnings per share. Research analysts forecast that Cognizant Technology Solutions will post 4.61 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Cognizant Technology Solutions by 13.6% during the first quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock valued at $4,254,178,000 after purchasing an additional 6,933,908 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Cognizant Technology Solutions by 32.8% during the third 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 position in Cognizant Technology Solutions by 1.3% during the first quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock valued at $569,175,000 after purchasing an additional 101,078 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Cognizant Technology Solutions by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,433,474 shares of the information technology service provider’s stock valued at $410,406,000 after buying an additional 238,551 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $406,360,000. 92.44% of the stock is owned by institutional investors and hedge funds.

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.