Morgan Stanley Issues Pessimistic Forecast for Cognizant Technology Solutions (NASDAQ:CTSH) Stock Price

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target reduced by stock analysts at Morgan Stanley from $85.00 to $80.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the information technology service provider’s stock. Morgan Stanley’s price target would indicate a potential downside of 3.00% from the stock’s current price.

CTSH has been the subject of a number of other reports. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Barclays lifted their price target on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. BMO Capital Markets upped their price target 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. Finally, Royal Bank of Canada increased their price target on Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $83.39.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $82.47 on Wednesday. The stock has a 50-day moving average of $82.23 and a 200-day moving average of $79.38. Cognizant Technology Solutions has a one year low of $63.79 and a one year high of $90.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The company has a market cap of $40.79 billion, a PE ratio of 18.29, a P/E/G ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, beating 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, equities research analysts predict that Cognizant Technology Solutions will post 4.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Cognizant Technology Solutions

Institutional investors and hedge funds have recently bought and sold shares of the company. Duncker Streett & Co. Inc. purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at $28,000. Ashton Thomas Securities LLC bought a new stake in Cognizant Technology Solutions in the 3rd quarter valued at about $30,000. Trust Co. of Vermont lifted its holdings in Cognizant Technology Solutions by 188.4% during the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 292 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Cognizant Technology Solutions during the fourth quarter worth about $36,000. Finally, Park Square Financial Group LLC purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter worth about $36,000. 92.44% of the stock is owned by institutional investors.

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.