Cognizant Technology Solutions (NASDAQ:CTSH) Earns “Outperform” Rating from Wedbush

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

Several other brokerages also recently commented on CTSH. Guggenheim reaffirmed a “buy” rating and issued a $65.00 target price (down from $80.00) on shares of Cognizant Technology Solutions in a research note on Monday, July 27th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Cognizant Technology Solutions in a report on Friday, August 7th. Robert W. Baird set a $68.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, July 30th. Wells Fargo & Company upped their price target on Cognizant Technology Solutions from $61.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Finally, HSBC cut their price objective on shares of Cognizant Technology Solutions from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Ten research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus price target of $64.43.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH traded down $0.81 during trading on Friday, hitting $59.20. 5,314,858 shares of the company’s stock traded hands, compared to its average volume of 8,052,174. The stock has a market capitalization of $26.67 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.07 and a beta of 0.86. The business has a 50 day moving average of $59.72 and a 200-day moving average of $54.34. Cognizant Technology Solutions has a 12-month low of $37.08 and a 12-month high of $87.03. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.18 and a current ratio of 2.18.

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 analysts’ consensus estimates of $1.38 by ($0.01). The firm had revenue of $5.48 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Cognizant Technology Solutions had a return on equity of 17.70% and a net margin of 10.26%.The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.31 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. As a group, equities research analysts anticipate that Cognizant Technology Solutions will post 5.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cognizant Technology Solutions

Institutional investors have recently made changes to their positions in the company. Evolve Private Wealth LLC purchased a new stake in Cognizant Technology Solutions during the fourth quarter valued at $2,642,000. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of Cognizant Technology Solutions in the first quarter worth approximately $29,510,000. Ancora Advisors LLC purchased a new position in Cognizant Technology Solutions in the 2nd quarter worth about $2,929,000. Pzena Investment Management LLC increased its holdings in Cognizant Technology Solutions by 14.9% during the 1st 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 purchasing an additional 2,633,683 shares during the period. Finally, Artemis Investment Management LLP increased its position in Cognizant Technology Solutions by 289.6% during the 3rd quarter. Artemis Investment Management LLP now owns 2,905,584 shares of the information technology service provider’s stock valued at $166,897,000 after purchasing an additional 2,159,704 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.