Cognizant Technology Solutions (NASDAQ:CTSH) Stock Price Expected to Rise, UBS Group Analyst Says

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target hoisted by UBS Group from $83.00 to $86.00 in a research note published on Monday,Benzinga reports. They currently have a neutral rating on the information technology service provider’s stock.

A number of other equities analysts have also recently weighed in on the stock. Barclays upgraded shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $80.00 to $95.00 in a research report on Tuesday, December 17th. StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Robert W. Baird increased their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Morgan Stanley lifted their price target on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Seventeen analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average price target of $81.39.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH opened at $83.60 on Monday. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions has a 52 week low of $63.79 and a 52 week high of $83.97. The stock’s 50-day moving average price is $79.25 and its 200-day moving average price is $77.41. The stock has a market capitalization of $41.45 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 2.21 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. As a group, equities analysts expect that Cognizant Technology Solutions will post 4.66 EPS for the current fiscal year.

Insider Transactions at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,022 shares in the company, valued at approximately $3,126,052.42. This trade represents 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. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Cognizant Technology Solutions

Large investors have recently modified their holdings of the company. State Street Corp raised its position in Cognizant Technology Solutions by 3.6% in the 3rd quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock valued at $1,928,405,000 after purchasing an additional 867,176 shares during the last quarter. Geode Capital Management LLC grew its stake in Cognizant Technology Solutions by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 13,280,223 shares of the information technology service provider’s stock worth $1,022,728,000 after acquiring an additional 173,667 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Cognizant Technology Solutions by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,244,731 shares of the information technology service provider’s stock worth $250,428,000 after purchasing an additional 44,129 shares during the period. ING Groep NV grew its holdings in shares of Cognizant Technology Solutions by 17.9% during the 4th quarter. ING Groep NV now owns 2,921,900 shares of the information technology service provider’s stock worth $224,694,000 after purchasing an additional 443,536 shares during the period. Finally, Cibc World Market Inc. raised its position in Cognizant Technology Solutions by 34.0% in the fourth quarter. Cibc World Market Inc. now owns 2,784,668 shares of the information technology service provider’s stock valued at $214,141,000 after purchasing an additional 705,946 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

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.