Cognizant Technology Solutions (NASDAQ:CTSH) Coverage Initiated at Citigroup

Research analysts at Citigroup assumed coverage on shares of Cognizant Technology Solutions (NASDAQ:CTSH) in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The firm set a “neutral” rating and a $75.00 price target on the information technology service provider’s stock. Citigroup’s price objective indicates a potential upside of 9.71% from the company’s previous close.

CTSH has been the subject of several other reports. Evercore ISI began coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued an “outperform” rating and a $100.00 target price for the company. JPMorgan Chase & Co. lowered their price objective on shares of Cognizant Technology Solutions from $101.00 to $89.00 and set an “overweight” rating for the company in a research note on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They set a “hold” rating and a $80.00 target price on the stock. Guggenheim reiterated a “buy” rating and set a $85.00 target price (down from $90.00) on shares of Cognizant Technology Solutions in a report on Tuesday. Finally, Wells Fargo & Company began coverage on Cognizant Technology Solutions in a research report on Tuesday. They set an “overweight” rating and a $82.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $85.44.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $68.36 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.41 and a current ratio of 2.41. The company has a 50 day moving average price of $69.14 and a 200 day moving average price of $73.62. Cognizant Technology Solutions has a fifty-two week low of $65.15 and a fifty-two week high of $90.82. The stock has a market capitalization of $33.39 billion, a P/E ratio of 13.89, a PEG ratio of 1.43 and a beta of 0.95.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.05. The company had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.17 billion. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%.The firm’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 earnings per share. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. Equities research analysts forecast that Cognizant Technology Solutions will post 4.98 EPS for the current year.

Institutional Investors Weigh In On Cognizant Technology Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in CTSH. Hilltop National Bank acquired a new stake in shares of Cognizant Technology Solutions during the 2nd quarter worth about $27,000. NewSquare Capital LLC increased its stake in Cognizant Technology Solutions by 71.8% in the second quarter. NewSquare Capital LLC now owns 366 shares of the information technology service provider’s stock valued at $29,000 after purchasing an additional 153 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Cognizant Technology Solutions by 267.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 603 shares of the information technology service provider’s stock valued at $40,000 after buying an additional 439 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Cognizant Technology Solutions by 118.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock valued at $44,000 after buying an additional 309 shares in the last quarter. Finally, WPG Advisers LLC acquired a new position in shares of Cognizant Technology Solutions in the 1st quarter valued at $61,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.