Cognizant Technology Solutions (NASDAQ:CTSH) Given New $77.00 Price Target at Wells Fargo & Company

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective raised by stock analysts at Wells Fargo & Company from $67.00 to $77.00 in a report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the information technology service provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 10.03% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Mizuho set a $64.00 price target on Cognizant Technology Solutions in a report on Thursday, August 6th. Susquehanna set a $82.00 price objective on Cognizant Technology Solutions and gave the stock a “positive” rating in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $70.00 price target (up from $65.00) on shares of Cognizant Technology Solutions in a report on Friday, September 18th. JPMorgan Chase & Co. dropped their price objective on shares of Cognizant Technology Solutions from $74.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, July 24th. Finally, Robert W. Baird set a $68.00 target price on Cognizant Technology Solutions in a report on Thursday, July 30th. Ten 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 stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $65.13.

Cognizant Technology Solutions Price Performance

Shares of CTSH traded down $0.56 during trading hours on Monday, reaching $69.98. The company had a trading volume of 259,894 shares, compared to its average volume of 7,923,415. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.11. Cognizant Technology Solutions has a 12-month low of $37.08 and a 12-month high of $87.03. The firm has a 50 day simple moving average of $61.58 and a 200-day simple moving average of $54.69. The company has a market capitalization of $31.52 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 1.32 and a beta of 0.86.

Cognizant Technology Solutions (NASDAQ:CTSH) last released 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). 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 analysts’ expectations of $5.48 billion. During the same period in the prior year, the firm posted $1.31 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. Research analysts expect that Cognizant Technology Solutions will post 5.74 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Apollon Wealth Management LLC grew its stake in Cognizant Technology Solutions by 18.6% during the 3rd quarter. Apollon Wealth Management LLC now owns 23,072 shares of the information technology service provider’s stock valued at $1,325,000 after purchasing an additional 3,614 shares in the last quarter. Access Investment Management LLC increased its holdings in Cognizant Technology Solutions by 4.3% during the 3rd quarter. Access Investment Management LLC now owns 89,160 shares of the information technology service provider’s stock worth $5,121,000 after purchasing an additional 3,645 shares during the last quarter. Probity Advisors Inc. acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at approximately $219,000. Signaturefd LLC raised its position in shares of Cognizant Technology Solutions by 1,025.7% in the 3rd quarter. Signaturefd LLC now owns 134,358 shares of the information technology service provider’s stock valued at $7,718,000 after purchasing an additional 122,423 shares in the last quarter. Finally, BG Investment Services LLC purchased a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at approximately $4,673,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation is a global information technology services and consulting company that helps organizations modernize their technology infrastructure, operations and customer experiences. The company serves businesses across industries including financial services, healthcare, life sciences, manufacturing, retail and communications.

Cognizant’s services include consulting, application development and modernization, cloud computing, data and artificial intelligence, digital engineering, cybersecurity and business process services.