Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Raised to $86.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price increased by stock analysts at UBS Group from $83.00 to $86.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the information technology service provider’s stock. UBS Group’s target price would suggest a potential upside of 2.94% from the company’s previous close.

CTSH has been the topic of several other research reports. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. TD Cowen lifted their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Morgan Stanley lifted their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Finally, Robert W. Baird increased their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Seventeen research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $81.39.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $83.54 on Monday. The stock has a market capitalization of $41.42 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 2.21 and a beta of 1.07. The company has a fifty day moving average of $79.20 and a 200-day moving average of $77.34. Cognizant Technology Solutions has a 52-week low of $63.79 and a 52-week high of $83.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,022 shares in the company, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Graypoint LLC increased its holdings in shares of Cognizant Technology Solutions by 2.9% during the fourth quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider’s stock valued at $369,000 after acquiring an additional 134 shares in the last quarter. Sandy Cove Advisors LLC raised its holdings in Cognizant Technology Solutions by 3.2% in the fourth quarter. Sandy Cove Advisors LLC now owns 4,336 shares of the information technology service provider’s stock worth $333,000 after buying an additional 135 shares during the last quarter. Pinnacle Bancorp Inc. grew its holdings in shares of Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after buying an additional 146 shares during the last quarter. Cidel Asset Management Inc. increased its position in shares of Cognizant Technology Solutions by 3.5% during the fourth quarter. Cidel Asset Management Inc. now owns 5,338 shares of the information technology service provider’s stock valued at $410,000 after acquiring an additional 182 shares in the last quarter. Finally, Ritholtz Wealth Management raised its holdings in Cognizant Technology Solutions by 2.1% in the 4th quarter. Ritholtz Wealth Management now owns 8,704 shares of the information technology service provider’s stock worth $669,000 after acquiring an additional 183 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

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.