Evercore ISI Begins Coverage on Cognizant Technology Solutions (NASDAQ:CTSH)

Equities researchers at Evercore ISI started coverage on shares of Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) in a research report issued on Thursday, MarketBeat.com reports. The brokerage set an "outperform" rating and a $100.00 price target on the information technology service provider's stock. Evercore ISI's target price indicates a potential upside of 32.14% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. Mizuho raised shares of Cognizant Technology Solutions to a "hold" rating in a research note on Wednesday, March 19th. Susquehanna raised shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and lifted their price target for the stock from $77.00 to $90.00 in a research note on Thursday, May 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday, May 1st. JPMorgan Chase & Co. raised shares of Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $88.00 to $98.00 in a research note on Monday, May 19th. Finally, Robert W. Baird boosted their price objective on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $86.18.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH traded up $0.12 on Thursday, reaching $75.68. The company's stock had a trading volume of 4,901,713 shares, compared to its average volume of 3,544,330. Cognizant Technology Solutions has a 52-week low of $65.52 and a 52-week high of $90.82. The company has a market cap of $37.31 billion, a P/E ratio of 15.93, a PEG ratio of 1.72 and a beta of 0.96. The company has a 50-day simple moving average of $79.18 and a 200 day simple moving average of $78.70. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.22 and a current ratio of 2.22.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 EPS 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 firm had revenue of $5.12 billion during the quarter, compared to analysts' expectations of $5.06 billion. During the same period in the previous year, the company earned $1.12 EPS. The firm's revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Cognizant Technology Solutions will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions announced that its board has approved a stock repurchase plan on Tuesday, March 25th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the information technology service provider to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On Cognizant Technology Solutions

Large investors have recently modified their holdings of the business. Park Square Financial Group LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $36,000. Geneos Wealth Management Inc. raised its stake in shares of Cognizant Technology Solutions by 118.8% during 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 raised its stake in shares of Cognizant Technology Solutions by 21.5% during 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 shares of Cognizant Technology Solutions during the 4th quarter worth approximately $55,000. Finally, Loomis Sayles & Co. L P bought a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $56,000. Institutional investors own 92.44% of the company's stock.

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.