Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Receives $89.33 Average PT from Brokerages

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) has been assigned an average rating of “Hold” from the twenty-one analysts that are presently covering the stock, Marketbeat reports. Twelve analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $90.2778.

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Monday, January 26th. Mizuho set a $85.00 price objective on Cognizant Technology Solutions in a report on Thursday, October 30th. Susquehanna reissued a “positive” rating and set a $98.00 target price on shares of Cognizant Technology Solutions in a report on Friday, January 23rd. The Goldman Sachs Group restated a “neutral” rating and issued a $84.00 target price on shares of Cognizant Technology Solutions in a research report on Wednesday, October 29th. Finally, Guggenheim reiterated a “buy” rating and set a $100.00 price target (up from $95.00) on shares of Cognizant Technology Solutions in a research report on Wednesday, January 28th.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $82.91 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.36 and a current ratio of 2.36. The firm has a fifty day moving average of $82.96 and a 200 day moving average of $74.99. The firm has a market cap of $40.02 billion, a PE ratio of 19.24, a PEG ratio of 1.58 and a beta of 0.96. Cognizant Technology Solutions has a one year low of $65.15 and a one year high of $90.82.

Insider Activity

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 2,950 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $85.06, for a total value of $250,927.00. Following the completion of the sale, the chief executive officer owned 75,209 shares in the company, valued at approximately $6,397,277.54. This represents a 3.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO John Sunshin Kim sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $80.00, for a total value of $200,000.00. Following the transaction, the chief accounting officer owned 36,149 shares in the company, valued at approximately $2,891,920. This represents a 6.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 27,706 shares of company stock worth $2,317,281 over the last three months. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of institutional investors have recently added to or reduced their stakes in the stock. JPL Wealth Management LLC purchased a new stake in Cognizant Technology Solutions in the 3rd quarter valued at $25,000. Hilltop National Bank acquired a new stake in Cognizant Technology Solutions during the second quarter worth about $27,000. Lodestone Wealth Management LLC purchased a new position in Cognizant Technology Solutions during the fourth quarter worth about $28,000. Flagship Harbor Advisors LLC acquired a new position in Cognizant Technology Solutions in the 4th quarter valued at about $28,000. Finally, Physician Wealth Advisors Inc. boosted its holdings in Cognizant Technology Solutions by 165.1% in the 4th quarter. Physician Wealth Advisors Inc. now owns 342 shares of the information technology service provider’s stock valued at $28,000 after purchasing an additional 213 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

About Cognizant Technology Solutions

Cognizant Technology Solutions (NASDAQ: CTSH) is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.

Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.