Cognizant Technology Solutions’ (CTSH) Outperform Rating Reiterated at Wedbush

Cognizant Technology Solutions (NASDAQ:CTSH)‘s stock had its “outperform” rating reissued by analysts at Wedbush in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $70.00 price target on the information technology service provider’s stock. Wedbush’s price objective suggests a potential upside of 17.61% from the stock’s previous close.

A number of other research firms also recently issued reports on CTSH. Weiss Ratings reissued a “hold (c-)” rating on shares of Cognizant Technology Solutions in a research report on Friday, August 7th. Mizuho set a $64.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday, August 6th. Wells Fargo & Company boosted their price target on shares of Cognizant Technology Solutions from $61.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Citigroup reiterated a “neutral” rating and set a $60.00 price target (up from $45.00) on shares of Cognizant Technology Solutions in a research report on Thursday, July 30th. Finally, Berenberg Bank set a $59.00 price target on Cognizant Technology Solutions and gave the stock a “hold” rating in a research note on Wednesday, June 17th. Ten analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $64.43.

Cognizant Technology Solutions Stock Down 0.8%

CTSH stock traded down $0.49 during mid-day trading on Friday, reaching $59.52. 1,589,134 shares of the company traded hands, compared to its average volume of 8,033,263. Cognizant Technology Solutions has a fifty-two week low of $37.08 and a fifty-two week high of $87.03. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.11. The firm’s 50 day moving average price is $59.72 and its 200 day moving average price is $54.34. The stock has a market cap of $26.81 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 1.07 and a beta of 0.86.

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

Institutional Trading of Cognizant Technology Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Resources Management Corp CT ADV boosted its stake in shares of Cognizant Technology Solutions by 6.1% during the 4th quarter. Resources Management Corp CT ADV now owns 3,695 shares of the information technology service provider’s stock valued at $307,000 after buying an additional 211 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of Cognizant Technology Solutions by 34.5% during the first quarter. Capital Advisors Ltd. LLC now owns 959 shares of the information technology service provider’s stock valued at $59,000 after purchasing an additional 246 shares during the last quarter. Security National Bank of SO Dak lifted its stake in Cognizant Technology Solutions by 1.1% in the second quarter. Security National Bank of SO Dak now owns 25,780 shares of the information technology service provider’s stock valued at $998,000 after buying an additional 290 shares during the last quarter. Signature Equity Partners LLC boosted its stake in Cognizant Technology Solutions by 102.4% during the 1st quarter. Signature Equity Partners LLC now owns 599 shares of the information technology service provider’s stock valued at $37,000 after purchasing an additional 303 shares during the period. Finally, Pine Valley Investments Ltd Liability Co increased its position in Cognizant Technology Solutions by 3.6% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 9,338 shares of the information technology service provider’s stock valued at $573,000 after acquiring an additional 322 shares during the period. 92.44% of the stock is owned by hedge funds and other 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.