Cognizant Technology Solutions (NASDAQ:CTSH) Stock Rating Reaffirmed as “Outperform” by Wedbush

Cognizant Technology Solutions (NASDAQ:CTSH)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a note issued to investors on Friday, Benzinga reports. They presently have a $70.00 price objective on the information technology service provider’s stock. Wedbush’s target price points to a potential upside of 18.24% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird set a $68.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, July 30th. Wells Fargo & Company raised their price objective on shares of Cognizant Technology Solutions from $61.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Cognizant Technology Solutions in a research report on Friday, August 7th. HSBC lowered their target price on shares of Cognizant Technology Solutions from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Finally, Royal Bank Of Canada set a $55.00 price target on shares of Cognizant Technology Solutions in a research note on Friday, July 24th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $64.43.

Cognizant Technology Solutions Stock Performance

CTSH stock traded down $0.81 during trading on Friday, reaching $59.20. 5,314,858 shares of the stock were exchanged, compared to its average volume of 8,052,174. Cognizant Technology Solutions has a twelve month low of $37.08 and a twelve month high of $87.03. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $26.67 billion, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 1.07 and a beta of 0.86. The stock has a 50 day simple moving average of $59.80 and a 200-day simple moving average of $54.37.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, July 29th. The information technology service provider reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). The firm had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.48 billion. Cognizant Technology Solutions had a return on equity of 17.70% and a net margin of 10.26%.Cognizant Technology Solutions’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.31 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. As a group, sell-side analysts anticipate that Cognizant Technology Solutions will post 5.74 earnings per share for the current year.

Institutional Trading of Cognizant Technology Solutions

Several large investors have recently added to or reduced their stakes in the company. Pzena Investment Management LLC increased its holdings in shares of Cognizant Technology Solutions by 14.9% during the first quarter. Pzena Investment Management LLC now owns 20,262,362 shares of the information technology service provider’s stock worth $1,243,096,000 after buying an additional 2,633,683 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Cognizant Technology Solutions by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,404,918 shares of the information technology service provider’s stock worth $392,947,000 after acquiring an additional 222,819 shares in the last quarter. Amundi grew its position in Cognizant Technology Solutions by 9.2% during the 1st quarter. Amundi now owns 6,177,881 shares of the information technology service provider’s stock worth $379,013,000 after acquiring an additional 520,532 shares during the last quarter. National Bank of Canada FI grew its position in Cognizant Technology Solutions by 0.5% during the 4th quarter. National Bank of Canada FI now owns 5,771,093 shares of the information technology service provider’s stock worth $479,000,000 after acquiring an additional 30,811 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Cognizant Technology Solutions by 925.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,652,358 shares of the information technology service provider’s stock valued at $141,456,000 after purchasing an additional 3,296,205 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation (NASDAQ: CTSH) is a global professional services and information technology company that helps businesses modernize their operations and technology infrastructure. Its services include IT consulting, systems integration, application development and modernization, cloud computing, data and analytics, artificial intelligence, cybersecurity, and digital engineering.

The company also provides business process services and industry-specific solutions for sectors such as financial services, healthcare, life sciences, manufacturing, retail, communications, and information technology.