JPMorgan Chase & Co. Trims Cognizant Technology Solutions (NASDAQ:CTSH) Target Price to $74.00

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from $81.00 to $74.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a "neutral" rating on the information technology service provider's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 11.66% from the company's previous close.

Other equities analysts have also issued reports about the company. Royal Bank of Canada boosted their price target on Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 7th. Wolfe Research raised Cognizant Technology Solutions from an "underperform" rating to a "peer perform" rating in a research report on Thursday, January 4th. Mizuho assumed coverage on Cognizant Technology Solutions in a research report on Tuesday, January 30th. They set a "neutral" rating and a $82.00 target price on the stock. Guggenheim assumed coverage on Cognizant Technology Solutions in a research report on Tuesday, March 19th. They set a "neutral" rating and a $80.00 target price on the stock. Finally, Wedbush reaffirmed an "outperform" rating and set a $85.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Cognizant Technology Solutions presently has an average rating of "Hold" and an average target price of $75.63.

Cognizant Technology Solutions Trading Up 1.4 %

Shares of Cognizant Technology Solutions stock traded up $0.90 during midday trading on Thursday, reaching $66.27. The company had a trading volume of 8,585,253 shares, compared to its average volume of 4,343,017. The stock has a fifty day moving average price of $72.58 and a 200 day moving average price of $72.47. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.25 and a quick ratio of 2.25. The firm has a market cap of $32.99 billion, a PE ratio of 15.78, a P/E/G ratio of 1.50 and a beta of 1.08. Cognizant Technology Solutions has a fifty-two week low of $58.81 and a fifty-two week high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same period in the previous year, the firm earned $1.11 earnings per share. The company's revenue was down 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Cognizant Technology Solutions will post 4.59 earnings per share for the current year.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the firm's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the sale, the executive vice president now owns 8,312 shares of the company's stock, valued at approximately $640,522.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company's stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

Several institutional investors have recently modified their holdings of CTSH. Turtle Creek Wealth Advisors LLC bought a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at about $26,000. NBC Securities Inc. bought a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at about $27,000. Spire Wealth Management grew its position in Cognizant Technology Solutions by 79.1% during the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider's stock worth $34,000 after acquiring an additional 193 shares during the last quarter. Neo Ivy Capital Management bought a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $40,000. Finally, Quarry LP bought a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $43,000. 92.44% of the stock is currently owned by institutional investors.

About Cognizant Technology Solutions

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.