BMO Capital Markets Forecasts Strong Price Appreciation for Cognizant Technology Solutions (NASDAQ:CTSH) Stock

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective raised by equities research analysts at BMO Capital Markets from $88.00 to $94.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the information technology service provider’s stock. BMO Capital Markets’ price target points to a potential upside of 9.05% from the stock’s previous close.

A number of other brokerages have also issued reports on CTSH. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Morgan Stanley raised 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 report on Friday, January 31st. UBS Group raised their target price on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Sixteen analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $83.22.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $86.20 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. The firm has a 50-day moving average of $79.44 and a two-hundred day moving average of $77.52. The stock has a market cap of $42.74 billion, a P/E ratio of 19.07, a PEG ratio of 2.21 and a beta of 1.07. Cognizant Technology Solutions has a 1-year low of $63.79 and a 1-year high of $87.61.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. On average, research analysts expect that Cognizant Technology Solutions will post 4.66 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO John Sunshin Kim sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in Cognizant Technology Solutions in the 3rd quarter valued at $1,972,000. Retirement Systems of Alabama grew its stake in Cognizant Technology Solutions by 3.5% in the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock valued at $91,678,000 after buying an additional 40,226 shares during the last quarter. CGN Advisors LLC acquired a new position in Cognizant Technology Solutions in the 4th quarter valued at $1,294,000. Matthews International Capital Management LLC grew its position in Cognizant Technology Solutions by 52.0% in the 4th quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider’s stock worth $3,853,000 after purchasing an additional 17,134 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Cognizant Technology Solutions by 12.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 101,420 shares of the information technology service provider’s stock worth $7,828,000 after purchasing an additional 11,349 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.