JPMorgan Chase & Co. Lowers Cognizant Technology Solutions (NASDAQ:CTSH) Price Target to $55.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $74.00 to $55.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the information technology service provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 22.34% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Susquehanna cut their target price on shares of Cognizant Technology Solutions from $98.00 to $88.00 and set a “positive” rating for the company in a research report on Friday, May 1st. Jefferies Financial Group cut their price objective on Cognizant Technology Solutions from $80.00 to $65.00 and set a “buy” rating for the company in a report on Monday, May 4th. Guggenheim lowered their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Robert W. Baird dropped their target price on Cognizant Technology Solutions from $72.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Finally, HSBC cut their price target on Cognizant Technology Solutions from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Ten investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $62.00.

Cognizant Technology Solutions Stock Up 4.5%

NASDAQ:CTSH traded up $1.95 on Friday, hitting $44.95. 2,684,082 shares of the company’s stock traded hands, compared to its average volume of 8,202,775. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions has a 1 year low of $37.08 and a 1 year high of $87.03. The firm has a 50-day moving average price of $47.17 and a 200-day moving average price of $59.77. The company has a market cap of $21.30 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 0.94 and a beta of 0.87.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.41 billion. Cognizant Technology Solutions had a net margin of 10.41% and a return on equity of 17.50%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 earnings per share. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. Equities analysts anticipate that Cognizant Technology Solutions will post 5.7 EPS for the current fiscal year.

Cognizant Technology Solutions declared that its board has authorized a stock buyback plan on Monday, May 18th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information technology service provider to repurchase up to 9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Cognizant Technology Solutions

Large investors have recently made changes to their positions in the stock. Pzena Investment Management LLC raised its stake in shares of Cognizant Technology Solutions by 14.9% in the 1st quarter. Pzena Investment Management LLC now owns 20,262,362 shares of the information technology service provider’s stock valued at $1,243,096,000 after acquiring an additional 2,633,683 shares in the last quarter. Invesco Ltd. boosted its position in Cognizant Technology Solutions by 8.6% during the third quarter. Invesco Ltd. now owns 12,534,198 shares of the information technology service provider’s stock worth $840,669,000 after purchasing an additional 987,395 shares during the period. Norges Bank acquired a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $690,959,000. GQG Partners LLC bought a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $673,651,000. Finally, FIL Ltd lifted its stake in shares of Cognizant Technology Solutions by 46.6% in the fourth quarter. FIL Ltd now owns 6,680,508 shares of the information technology service provider’s stock worth $554,482,000 after buying an additional 2,122,600 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Company Profile

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.