Cognizant Technology Solutions (NASDAQ:CTSH) Given New $89.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has reduced its price target for Cognizant Technology Solutions (CTSH) from $101.00 to $89.00, while maintaining an "overweight" rating, indicating a potential upside of 25.80% from the current stock price.
• Multiple analysts have provided varied ratings for Cognizant, with Guggenheim upgrading the stock to a "buy" rating and setting a price target of $90.00, while the average target price is currently around $86.31.
• Cognizant's latest quarterly earnings report revealed an EPS of $1.31, exceeding expectations, and a revenue of $5.25 billion, marking an 8.1% increase compared to the same quarter last year.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) had its price objective reduced by JPMorgan Chase & Co. from $101.00 to $89.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the information technology service provider's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 25.80% from the stock's current price.

Several other equities research analysts have also recently issued reports on the company. Guggenheim upgraded Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price target for the company in a research note on Friday, July 18th. Susquehanna upgraded shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and boosted their price objective for the company from $77.00 to $90.00 in a research report on Thursday, May 1st. 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. Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Finally, Wall Street Zen downgraded shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Six research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of "Hold" and an average target price of $86.31.

Cognizant Technology Solutions Trading Down 0.2%

Cognizant Technology Solutions stock traded down $0.11 during mid-day trading on Wednesday, hitting $70.75. 881,379 shares of the company's stock were exchanged, compared to its average volume of 3,836,166. The company's 50 day simple moving average is $75.47 and its 200-day simple moving average is $77.78. Cognizant Technology Solutions has a fifty-two week low of $65.52 and a fifty-two week high of $90.82. The firm has a market capitalization of $34.55 billion, a P/E ratio of 14.36, a PEG ratio of 1.46 and a beta of 0.90. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.05. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%.The company had revenue of $5.25 billion during the quarter, compared to analysts' expectations of $5.17 billion. During the same quarter last year, the company earned $1.17 EPS. Cognizant Technology Solutions's revenue for the quarter was up 8.1% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. On average, equities analysts anticipate that Cognizant Technology Solutions will post 4.98 earnings per share for the current year.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in CTSH. Brighton Jones LLC purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at $214,000. NewEdge Advisors LLC boosted its position in Cognizant Technology Solutions by 70.4% during the fourth quarter. NewEdge Advisors LLC now owns 11,562 shares of the information technology service provider's stock worth $889,000 after purchasing an additional 4,776 shares during the period. State of Tennessee Department of Treasury boosted its position in Cognizant Technology Solutions by 6.1% during the fourth quarter. State of Tennessee Department of Treasury now owns 160,964 shares of the information technology service provider's stock worth $12,378,000 after purchasing an additional 9,209 shares during the period. OneDigital Investment Advisors LLC boosted its position in Cognizant Technology Solutions by 2.4% during the fourth quarter. OneDigital Investment Advisors LLC now owns 8,944 shares of the information technology service provider's stock worth $688,000 after purchasing an additional 208 shares during the period. Finally, MGO One Seven LLC purchased a new position in Cognizant Technology Solutions in the 4th quarter valued at approximately $213,000. Institutional investors and hedge funds 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.

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