Robert W. Baird Forecasts Strong Price Appreciation for Cognizant Technology Solutions (NASDAQ:CTSH) Stock

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price raised by investment analysts at Robert W. Baird from $78.00 to $80.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the information technology service provider’s stock. Robert W. Baird’s price target indicates a potential upside of 7.60% from the company’s previous close.

CTSH has been the subject of several other reports. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Jefferies Financial Group initiated coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price objective on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada increased their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $77.68.

Cognizant Technology Solutions Stock Performance

CTSH stock opened at $74.35 on Thursday. The firm has a 50 day simple moving average of $76.43 and a 200 day simple moving average of $71.93. Cognizant Technology Solutions has a 52 week low of $62.14 and a 52 week high of $80.27. The stock has a market cap of $36.85 billion, a P/E ratio of 16.94, a P/E/G ratio of 2.16 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.11. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter last year, the business posted $1.16 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Research analysts anticipate that Cognizant Technology Solutions will post 4.62 earnings per share for the current fiscal year.

Insider Activity at Cognizant Technology Solutions

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the transaction, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at $3,419,812.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cognizant Technology Solutions

Several large investors have recently modified their holdings of CTSH. 1620 Investment Advisors Inc. acquired a new stake in Cognizant Technology Solutions in the 2nd quarter valued at $25,000. LRI Investments LLC acquired a new stake in shares of Cognizant Technology Solutions in the 1st quarter valued at $28,000. Pinnacle Bancorp Inc. grew its holdings in shares of Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 146 shares during the last quarter. Benjamin Edwards Inc. increased its position in shares of Cognizant Technology Solutions by 42.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after purchasing an additional 158 shares in the last quarter. Finally, Eastern Bank bought a new position in Cognizant Technology Solutions during the 3rd quarter valued at about $37,000. 92.44% of the stock is currently owned by 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.