Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Raised to $87.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price increased by Wells Fargo & Company from $82.00 to $87.00 in a report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the information technology service provider’s stock.

Several other brokerages have also weighed in on CTSH. Wall Street Zen lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Cognizant Technology Solutions in a research note on Thursday, July 17th. They issued a “hold” rating and a $80.00 price target for the company. Guggenheim restated a “buy” rating and set a $85.00 price objective (down previously from $90.00) on shares of Cognizant Technology Solutions in a research note on Tuesday, October 21st. Finally, Citigroup assumed coverage on Cognizant Technology Solutions in a report on Thursday, October 23rd. They set a “neutral” rating and a $75.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $85.19.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $72.88 on Thursday. The firm has a market cap of $35.59 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.47 and a beta of 0.95. The company has a quick ratio of 2.41, a current ratio of 2.36 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $69.02 and its two-hundred day moving average is $73.67. Cognizant Technology Solutions has a 52-week low of $65.15 and a 52-week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.09. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.32 billion. Cognizant Technology Solutions had a net margin of 10.20% and a return on equity of 17.00%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 earnings per share. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Q4 2025 guidance at EPS. Analysts forecast that Cognizant Technology Solutions will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, November 18th. Cognizant Technology Solutions’s payout ratio is presently 28.77%.

Institutional Trading of Cognizant Technology Solutions

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Cognizant Technology Solutions by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 59,854,530 shares of the information technology service provider’s stock worth $4,670,449,000 after buying an additional 746,732 shares during the last quarter. State Street Corp grew its position in shares of Cognizant Technology Solutions by 0.6% during the second quarter. State Street Corp now owns 25,381,572 shares of the information technology service provider’s stock worth $1,980,524,000 after acquiring an additional 157,427 shares during the last quarter. Pzena Investment Management LLC increased its holdings in shares of Cognizant Technology Solutions by 2.2% in the 2nd quarter. Pzena Investment Management LLC now owns 17,450,691 shares of the information technology service provider’s stock worth $1,361,677,000 after acquiring an additional 375,619 shares during the period. Geode Capital Management LLC lifted its position in Cognizant Technology Solutions by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 14,019,891 shares of the information technology service provider’s stock valued at $1,091,391,000 after purchasing an additional 206,532 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Cognizant Technology Solutions by 13.3% during the 1st quarter. Invesco Ltd. now owns 12,077,445 shares of the information technology service provider’s stock valued at $923,925,000 after purchasing an additional 1,422,265 shares during the period. 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.