Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Raised to $78.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target upped by JPMorgan Chase & Co. from $67.00 to $78.00 in a research note published on Monday,Benzinga reports. They currently have an overweight rating on the information technology service provider’s stock.

Other equities analysts have also recently issued research reports about the company. Mizuho set a $64.00 price target on Cognizant Technology Solutions in a research report on Thursday, August 6th. Daiwa Securities Group increased their price objective on Cognizant Technology Solutions from $42.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, September 25th. Needham & Company LLC set a $78.00 target price on Cognizant Technology Solutions in a research note on Monday. Robert W. Baird set a $68.00 target price on Cognizant Technology Solutions in a research note on Thursday, July 30th. Finally, Wells Fargo & Company boosted their target price on Cognizant Technology Solutions from $67.00 to $77.00 and gave the company an “overweight” rating in a report on Monday. Ten research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $68.04.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $66.36 on Monday. The company has a 50-day simple moving average of $62.09 and a 200-day simple moving average of $59.50. Cognizant Technology Solutions has a one year low of $37.08 and a one year high of $87.03. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.18 and a current ratio of 2.18. The stock has a market capitalization of $29.89 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.32 and a beta of 0.86.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, July 29th. The information technology service provider reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.01). Cognizant Technology Solutions had a return on equity of 17.70% and a net margin of 10.26%. The business had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter last year, the company posted $1.31 EPS. Cognizant Technology Solutions’s quarterly revenue was up 4.5% on a year-over-year basis. On average, analysts predict that Cognizant Technology Solutions will post 5.74 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Marquette Asset Management LLC boosted its position in shares of Cognizant Technology Solutions by 183.9% during the 3rd quarter. Marquette Asset Management LLC now owns 545 shares of the information technology service provider’s stock worth $31,000 after purchasing an additional 353 shares in the last quarter. Signature Equity Partners LLC grew its stake in shares of Cognizant Technology Solutions by 102.4% during the 1st quarter. Signature Equity Partners LLC now owns 599 shares of the information technology service provider’s stock worth $37,000 after purchasing an additional 303 shares during the period. Pension & Wealth Management Advisors Inc. acquired a new position in shares of Cognizant Technology Solutions during the 3rd quarter worth $35,000. Alpine Bank Wealth Management purchased a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at about $38,000. Finally, SJS Investment Consulting Inc. increased its holdings in shares of Cognizant Technology Solutions by 1,580.0% in the 1st quarter. SJS Investment Consulting Inc. now owns 840 shares of the information technology service provider’s stock valued at $52,000 after purchasing an additional 790 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Trending Headlines about Cognizant Technology Solutions

Here are the key news stories impacting Cognizant Technology Solutions this week:

• Positive Sentiment: AI partnership expands travel-industry growth prospects: Cognizant and Travelport are deepening their strategic partnership to modernize travel retail using artificial intelligence. The companies aim to build more intelligent, personalized travel-commerce capabilities, potentially creating additional demand for Cognizant’s consulting and technology services. Cognizant, Travelport Join Hands To Modernize Travel Retail With AI
• Positive Sentiment: Analyst price-target increases provide support: Wells Fargo raised its price target for CTSH, while Morgan Stanley increased its target from $51 to $70. Although Morgan Stanley retained an Equal Weight rating, the higher target reflects improved valuation or business expectations. Cognizant Stock Gets Price Target Increase from Wells Fargo Morgan Stanley Raises Cognizant Price Target
• Neutral Sentiment: Investors are focused on the October 29 earnings release: Cognizant expects third-quarter revenue of $5.6 billion to $5.68 billion. Wall Street previews are examining revenue, profitability and other operating metrics to determine whether growth is accelerating. The company’s previous quarter included 4.5% year-over-year revenue growth but a slight EPS miss, increasing the importance of guidance and margins in the new report. CTSH Set to Report Q3 Earnings
• Neutral Sentiment: AI strategy offers upside but execution remains unproven: Coverage of Cognizant’s AI-led EBRD framework highlights the potential for artificial intelligence to drive growth, while noting that converting strategic initiatives into material revenue will depend on client adoption and execution. Can Cognizant Turn AI-Led EBRD Framework Into Growth?
• Negative Sentiment: Valuation and fundamentals remain concerns: Morgan Stanley’s continued Hold stance signals that, despite the higher target, analysts see uncertainties around Cognizant’s fundamental outlook and limited near-term upside. The upcoming earnings report must validate the stock’s recent strength.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation is a global information technology services and consulting company that helps organizations modernize their technology infrastructure, operations and customer experiences. The company serves businesses across industries including financial services, healthcare, life sciences, manufacturing, retail and communications.

Cognizant’s services include consulting, application development and modernization, cloud computing, data and artificial intelligence, digital engineering, cybersecurity and business process services.