Cognizant Technology Solutions (NASDAQ:CTSH) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Research analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm set a "hold" rating and a $80.00 price target on the information technology service provider's stock. Deutsche Bank Aktiengesellschaft's price objective would indicate a potential upside of 5.71% from the stock's previous close.

Other equities research analysts have also issued reports about the stock. Robert W. Baird boosted their target price on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Evercore ISI began coverage on shares of Cognizant Technology Solutions in a research note on Thursday. They set an "outperform" rating and a $100.00 target price for the company. Royal Bank Of Canada reiterated a "sector perform" rating and set a $93.00 target price on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. Barclays decreased their target price on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Finally, Mizuho upgraded shares of Cognizant Technology Solutions to a "hold" rating in a research note on Wednesday, March 19th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $86.18.

Cognizant Technology Solutions Stock Up 0.2%

NASDAQ CTSH traded up $0.12 during mid-day trading on Thursday, reaching $75.68. The stock had a trading volume of 4,901,713 shares, compared to its average volume of 3,537,882. Cognizant Technology Solutions has a 1 year low of $65.52 and a 1 year high of $90.82. The stock has a market cap of $37.31 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96. The company has a fifty day moving average price of $79.11 and a 200 day moving average price of $78.70. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.22.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.03. Cognizant Technology Solutions had a net margin of 11.73% and a return on equity of 16.73%. The company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same period in the previous year, the business earned $1.12 EPS. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. On average, research analysts expect that Cognizant Technology Solutions will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 25th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the information technology service provider to repurchase up to 5.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Institutional Trading of Cognizant Technology Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new position in Cognizant Technology Solutions in the 4th quarter worth about $36,000. Geneos Wealth Management Inc. grew its stake in Cognizant Technology Solutions by 118.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider's stock worth $44,000 after acquiring an additional 309 shares in the last quarter. CoreCap Advisors LLC grew its stake in Cognizant Technology Solutions by 21.5% in the 4th quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock worth $55,000 after acquiring an additional 126 shares in the last quarter. Pinney & Scofield Inc. bought a new position in Cognizant Technology Solutions in the 4th quarter worth about $55,000. Finally, Loomis Sayles & Co. L P bought a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $56,000. 92.44% of the stock is owned by hedge funds and other 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.