Cognizant Technology Solutions (NASDAQ:CTSH) Upgraded to Overweight at Barclays

Cognizant Technology Solutions (NASDAQ:CTSH) was upgraded by research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm presently has a $95.00 target price on the information technology service provider’s stock, up from their prior target price of $80.00. Barclays‘s target price points to a potential upside of 21.39% from the stock’s current price.

A number of other research firms have also recently commented on CTSH. Deutsche Bank Aktiengesellschaft boosted their price target on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. TD Cowen upped their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. Finally, Jefferies Financial Group initiated coverage on Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price objective for the company. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $80.35.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH opened at $78.26 on Tuesday. The stock has a market cap of $38.80 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 2.24 and a beta of 1.06. Cognizant Technology Solutions has a 1 year low of $63.79 and a 1 year high of $82.46. The firm has a fifty day moving average price of $78.47 and a 200-day moving average price of $74.87. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the business posted $1.16 EPS. Cognizant Technology Solutions’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts anticipate that Cognizant Technology Solutions will post 4.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the sale, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Cognizant Technology Solutions

Several hedge funds have recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. grew its stake in shares of Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after buying an additional 146 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in Cognizant Technology Solutions by 42.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after acquiring an additional 158 shares during the period. Addison Advisors LLC grew its position in Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after acquiring an additional 189 shares during the last quarter. Meeder Asset Management Inc. increased its stake in Cognizant Technology Solutions by 32.5% in the third quarter. Meeder Asset Management Inc. now owns 786 shares of the information technology service provider’s stock worth $61,000 after purchasing an additional 193 shares during the period. Finally, V Square Quantitative Management LLC lifted its position in shares of Cognizant Technology Solutions by 1.8% during the third quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock worth $862,000 after purchasing an additional 194 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.