Cognizant Technology Solutions (NASDAQ:CTSH) Earns Outperform Rating from Wedbush

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report)'s stock had its "outperform" rating reaffirmed by investment analysts at Wedbush in a report released on Thursday, Benzinga reports. They presently have a $85.00 target price on the information technology service provider's stock. Wedbush's price target would suggest a potential upside of 28.26% from the company's current price.

CTSH has been the topic of several other reports. Societe Generale restated a "sell" rating and set a $67.00 target price on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Mizuho initiated coverage on Cognizant Technology Solutions in a report on Tuesday, January 30th. They issued a "neutral" rating and a $82.00 target price for the company. BMO Capital Markets lowered their price target on Cognizant Technology Solutions from $85.00 to $77.00 and set a "market perform" rating on the stock in a report on Tuesday. Wolfe Research upgraded shares of Cognizant Technology Solutions from an "underperform" rating to a "peer perform" rating in a research note on Thursday, January 4th. Finally, Guggenheim assumed coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, March 19th. They issued a "neutral" rating and a $80.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $75.63.

Cognizant Technology Solutions Stock Up 1.4 %

Shares of NASDAQ:CTSH traded up $0.90 during midday trading on Thursday, hitting $66.27. 8,585,253 shares of the stock were exchanged, compared to its average volume of 4,343,017. The company has a market capitalization 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 52-week low of $58.81 and a 52-week high of $80.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.25 and a current ratio of 2.25. The business's fifty day simple moving average is $72.58 and its two-hundred day simple moving average is $72.47.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.11 by $0.01. The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The business's quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the business earned $1.11 EPS. As a group, research analysts predict that Cognizant Technology Solutions will post 4.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.27% of the company's stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

Several hedge funds have recently made changes to their positions in CTSH. Exchange Traded Concepts LLC increased its stake in Cognizant Technology Solutions by 26.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider's stock valued at $52,000 after buying an additional 162 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Cognizant Technology Solutions by 8.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 198,317 shares of the information technology service provider's stock worth $13,434,000 after purchasing an additional 15,441 shares during the last quarter. Xponance Inc. raised its stake in shares of Cognizant Technology Solutions by 2.4% during the 3rd quarter. Xponance Inc. now owns 64,251 shares of the information technology service provider's stock worth $4,352,000 after purchasing an additional 1,499 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Cognizant Technology Solutions by 1.0% in the 3rd quarter. Raymond James & Associates now owns 434,244 shares of the information technology service provider's stock valued at $29,416,000 after buying an additional 4,092 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Cognizant Technology Solutions by 8.6% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 38,932 shares of the information technology service provider's stock valued at $2,637,000 after buying an additional 3,088 shares in the last quarter. 92.44% of the stock is 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.