TD Cowen Issues Pessimistic Forecast for Cognizant Technology Solutions (NASDAQ:CTSH) Stock Price

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target lowered by equities researchers at TD Cowen from $62.00 to $47.00 in a report released on Friday,MarketScreener reports. The brokerage presently has a “hold” rating on the information technology service provider’s stock. TD Cowen’s price target suggests a potential upside of 17.62% from the company’s previous close.

A number of other research firms also recently weighed in on CTSH. Wells Fargo & Company cut their target price on Cognizant Technology Solutions from $98.00 to $83.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Nomura lifted their price objective on shares of Cognizant Technology Solutions from $92.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Berenberg Bank set a $59.00 target price on Cognizant Technology Solutions and gave the company a “hold” rating in a research note on Wednesday, June 17th. BMO Capital Markets decreased their target price on shares of Cognizant Technology Solutions from $83.00 to $63.00 in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Cognizant Technology Solutions from $92.00 to $74.00 and set an “overweight” rating for the company in a report on Tuesday, April 28th. Ten investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $69.70.

Cognizant Technology Solutions Trading Up 2.1%

Shares of NASDAQ:CTSH traded up $0.81 during trading on Friday, hitting $39.96. 1,057,821 shares of the company’s stock were exchanged, compared to its average volume of 7,976,036. The firm has a 50-day moving average price of $51.86 and a two-hundred day moving average price of $65.59. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions has a 1-year low of $38.97 and a 1-year high of $87.03. The firm has a market cap of $18.94 billion, a P/E ratio of 8.69, a PEG ratio of 0.87 and a beta of 0.81.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, April 29th. The information technology service provider reported $1.40 EPS for the quarter, topping the consensus estimate of $1.33 by $0.07. The business had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.41 billion. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. Equities analysts predict that Cognizant Technology Solutions will post 5.7 earnings per share for the current year.

Cognizant Technology Solutions declared that its board has initiated a share buyback plan on Monday, May 18th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the information technology service provider to buy up to 9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Cognizant Technology Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPL Wealth Management LLC purchased a new position in Cognizant Technology Solutions during the third quarter valued at approximately $25,000. Lodestone Wealth Management LLC purchased a new stake in Cognizant Technology Solutions in the 4th quarter worth $28,000. Flagship Harbor Advisors LLC purchased a new position in Cognizant Technology Solutions in the 4th quarter valued at $28,000. Physician Wealth Advisors Inc. increased its stake in shares of Cognizant Technology Solutions by 165.1% in the 4th quarter. Physician Wealth Advisors Inc. now owns 342 shares of the information technology service provider’s stock worth $28,000 after acquiring an additional 213 shares during the last quarter. Finally, Prosperity Bancshares Inc acquired a new stake in Cognizant Technology Solutions during the fourth quarter worth $29,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions (NASDAQ: CTSH) is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.

Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.