Cognizant Technology Solutions (NASDAQ:CTSH) Upgraded by Berenberg Bank to Strong-Buy Rating

by · The Cerbat Gem

Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) was upgraded by research analysts at Berenberg Bank to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities analysts have also commented on the stock. Citigroup reiterated a “neutral” rating and issued a $86.00 price objective (up previously from $75.00) on shares of Cognizant Technology Solutions in a report on Thursday. Wells Fargo & Company reiterated an “overweight” rating and issued a $98.00 price target (up previously from $87.00) on shares of Cognizant Technology Solutions in a research note on Wednesday, January 14th. Weiss Ratings restated a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research note on Monday, December 29th. Mizuho set a $85.00 target price on Cognizant Technology Solutions in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Cognizant Technology Solutions from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and a consensus target price of $88.22.

Get Our Latest Research Report on CTSH

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH opened at $84.18 on Thursday. The business’s 50-day simple moving average is $81.71 and its 200 day simple moving average is $74.72. The company has a market cap of $40.63 billion, a P/E ratio of 19.53, a PEG ratio of 1.62 and a beta of 0.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.36 and a current ratio of 2.36. Cognizant Technology Solutions has a one year low of $65.15 and a one year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last issued its quarterly earnings data on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.09. The company 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%. Cognizant Technology Solutions’s revenue for the quarter was up 7.5% on a year-over-year basis. 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. On average, sell-side analysts forecast that Cognizant Technology Solutions will post 4.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $200,000.00. Following the completion of the transaction, the chief accounting officer owned 36,149 shares in the company, valued at $2,891,920. The trade was a 6.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ravi Kumar Singisetti sold 3,125 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $80.01, for a total value of $250,031.25. Following the completion of the sale, the chief executive officer directly owned 75,454 shares in the company, valued at $6,037,074.54. This represents a 3.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,206 shares of company stock worth $2,505,231 over the last ninety days. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Cognizant Technology Solutions

A number of large investors have recently modified their holdings of CTSH. Flagship Harbor Advisors LLC acquired a new position in Cognizant Technology Solutions during the 4th quarter valued at about $28,000. Lodestone Wealth Management LLC acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $28,000. Hilltop National Bank bought a new position in Cognizant Technology Solutions in the 2nd quarter worth approximately $27,000. NewSquare Capital LLC grew its holdings in Cognizant Technology Solutions by 71.8% in the 2nd quarter. NewSquare Capital LLC now owns 366 shares of the information technology service provider’s stock worth $29,000 after buying an additional 153 shares in the last quarter. Finally, JPL Wealth Management LLC acquired a new stake in Cognizant Technology Solutions in the 3rd quarter valued at approximately $25,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Company Profile

(Get Free Report)

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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