UBS Group Lowers Cognizant Technology Solutions (NASDAQ:CTSH) Price Target to $88.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective dropped by equities research analysts at UBS Group from $93.00 to $88.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the information technology service provider’s stock. UBS Group’s price target suggests a potential upside of 10.20% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, February 6th. Royal Bank of Canada raised their target price on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Morgan Stanley lowered their price target on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. Barclays raised their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, BMO Capital Markets upped their target price on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, February 6th. Sixteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus target price of $83.50.

Cognizant Technology Solutions Trading Up 0.9 %

Cognizant Technology Solutions stock traded up $0.74 during midday trading on Monday, reaching $79.86. The stock had a trading volume of 396,776 shares, compared to its average volume of 3,722,313. Cognizant Technology Solutions has a 52-week low of $63.79 and a 52-week high of $90.82. The company has a fifty day moving average of $82.38 and a 200 day moving average of $79.42. The firm has a market cap of $39.50 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. On average, analysts anticipate that Cognizant Technology Solutions will post 4.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cognizant Technology Solutions

Institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans increased its holdings in Cognizant Technology Solutions by 17.8% in the third quarter. Thrivent Financial for Lutherans now owns 25,931 shares of the information technology service provider’s stock valued at $2,001,000 after buying an additional 3,917 shares in the last quarter. Quest Partners LLC grew its position in shares of Cognizant Technology Solutions by 113,220.0% during the 3rd quarter. Quest Partners LLC now owns 11,332 shares of the information technology service provider’s stock valued at $875,000 after acquiring an additional 11,322 shares during the period. LMR Partners LLP acquired a new position in Cognizant Technology Solutions in the 3rd quarter worth about $532,000. Strengthening Families & Communities LLC boosted its position in Cognizant Technology Solutions by 7.5% during the third quarter. Strengthening Families & Communities LLC now owns 23,679 shares of the information technology service provider’s stock worth $1,828,000 after purchasing an additional 1,648 shares in the last quarter. Finally, Meeder Advisory Services Inc. grew its holdings in Cognizant Technology Solutions by 5.2% in the third quarter. Meeder Advisory Services Inc. now owns 10,428 shares of the information technology service provider’s stock valued at $805,000 after purchasing an additional 513 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

About Cognizant Technology Solutions

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.