Cognizant Technology Solutions (NASDAQ:CTSH) Hits New 12-Month High – Should You Buy?

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) hit a new 52-week high during trading on Wednesday . The stock traded as high as $83.97 and last traded at $83.54, with a volume of 3639889 shares. The stock had previously closed at $82.90.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CTSH shares. TD Cowen boosted their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Monday, January 13th. UBS Group increased their target price on Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Barclays upgraded Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $80.00 to $95.00 in a research report on Tuesday, December 17th. Seventeen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus target price of $81.39.

Cognizant Technology Solutions Price Performance

The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $41.42 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 2.21 and a beta of 1.07. The company has a 50 day moving average price of $79.20 and a 200 day moving average price of $77.34.

Insider Buying and Selling

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction 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 sale, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. The trade was a 11.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Graypoint LLC boosted its holdings in 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 worth $369,000 after buying an additional 134 shares during the last quarter. Sandy Cove Advisors LLC boosted its stake in Cognizant Technology Solutions by 3.2% during the 4th quarter. Sandy Cove Advisors LLC now owns 4,336 shares of the information technology service provider’s stock worth $333,000 after acquiring an additional 135 shares during the last quarter. Pinnacle Bancorp Inc. grew its holdings in 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 purchasing an additional 146 shares during the period. Cidel Asset Management Inc. increased its stake in Cognizant Technology Solutions by 3.5% in 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 purchasing an additional 182 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its position in shares of Cognizant Technology Solutions by 2.1% during the fourth quarter. Ritholtz Wealth Management now owns 8,704 shares of the information technology service provider’s stock worth $669,000 after purchasing an additional 183 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.

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.