Equities researchers at Truist Financial started coverage on shares of Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm set a “hold” rating and a $66.00 price target on the information technology service provider’s stock. Truist Financial’s target price points to a potential upside of 18.36% from the company’s previous close.
CTSH has been the subject of several other reports. Berenberg Bank reduced their price objective on Cognizant Technology Solutions from $107.00 to $81.00 and set a “buy” rating for the company in a research note on Monday, May 11th. BMO Capital Markets reduced their price objective on Cognizant Technology Solutions from $83.00 to $63.00 in a research note on Thursday, April 30th. Mizuho reduced their price objective on Cognizant Technology Solutions from $87.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Argus upgraded Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, February 10th. Finally, Weiss Ratings lowered Cognizant Technology Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Ten investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $72.68.
View Our Latest Stock Report on Cognizant Technology Solutions
Cognizant Technology Solutions Price Performance
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The information technology service provider reported $1.40 EPS for the quarter, topping the consensus estimate of $1.33 by $0.07. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.41 billion. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.Cognizant Technology Solutions’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. On average, equities analysts anticipate that Cognizant Technology Solutions will post 5.7 EPS for the current year.
Cognizant Technology Solutions declared that its Board of Directors has authorized a share buyback program on Monday, May 18th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the information technology service provider to buy up to 9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Hedge Funds Weigh In On Cognizant Technology Solutions
Hedge funds and other institutional investors have recently modified their holdings of the stock. JPL Wealth Management LLC purchased a new position in shares of Cognizant Technology Solutions during the third quarter valued at about $25,000. Lodestone Wealth Management LLC purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at about $28,000. Flagship Harbor Advisors LLC purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at about $28,000. Physician Wealth Advisors Inc. grew its position in shares of Cognizant Technology Solutions by 165.1% during the fourth quarter. Physician Wealth Advisors Inc. now owns 342 shares of the information technology service provider’s stock valued at $28,000 after purchasing an additional 213 shares in the last quarter. Finally, Prosperity Bancshares Inc purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at about $29,000. Institutional investors own 92.44% of the company’s stock.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions (NASDAQ: CTSH) is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.
Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.
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