HSBC Securities slashes price target on Cognizant Technology Solutions Corporation [CTSH] – find out why.
Cognizant Technology Solutions Company [NASDAQ: CTSH] It traded at the lowest level on 09/21/22, posting a loss of -3.03 after which it closed today’s session at $60.08. Company report on September 20 2022 Cognizant’s co-verifier platform is growing to reach more than a quarter of a million users globally.
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The digital platform helps accelerate drug discovery and impact improved healthcare by modernizing clinical trials.
Cognizant (NASDAQ: CTSH) announced that the Cognizant Investigator Platform (SIP), a life sciences-as-a-service (SaaS) program that streamlines clinical trials to improve the speed of pharmaceutical drug discovery, has exceeded 250,000 users across 100 countries worldwide. This digital platform facilitates worldwide research and collaboration by allowing clinical study documents and safety notices to be easily and securely shared across site teams and sponsors.
The results of the trading session contributed to the trading of more than 403613 shares. Over the past week, Cognizant Technology Solutions Corporation’s price volatility was 3.00% while last month’s volatility was 2.35%.
CTSH’s stock has a market capitalization of $31.03 billion, with 520.00 million shares outstanding and 516.75 million shares in current float. Compared to an average trading volume of 3.04 million shares, CTSH reached a trading volume of 403,613 on the last trading day, which is why market watchers consider the stock to be active.
What Top Market Experts Say About Cognizant Technology Solutions Corporation [CTSH]?
Based on accurate, fact-backed analyzes by Wall Street experts, the current consensus on CTSH’s stock price target is $77.68 per share. Target price analysis and stock performance are usually carefully studied by market experts, and the current Wall Street consensus for CTSH stock is a set recommendation at 2.60. This rating represents a strong buy recommendation, on a scale of 1 to 5, where 5 means strong sell, 4 represents sell, 3 represents hold, and 2 indicates buy.
HSBC Securities made an appreciation for Cognizant Technology Solutions Corporation shares, and retained their opinion of the stock as Hold, with their previous recommendation back on August 17, 2022. While those analysts held the previous recommendation, JP Morgan cut its price target from $82 to $77. The new price target note was released on July 28, 2022, which is the official target price for Cognizant Technology Solutions Corporation stock. Previously, the target price had received another increase from $58.50 to $89, while UBS maintained a neutral rating on CTSH’s stock. On January 14, 2022, analysts raised their price target for CTSH shares from 93 to 95.
Cognizant Technology Solutions Corporation’s Average True Range (ATR) is set at 1.60, with CTSH’s price-to-sales ratio for the past twelve months at 1.61. The price-to-book ratio for the fourth quarter was 2.61, with the price-to-cash ratio per share in the same quarter set at 4.49. CTSH’s free cash flow rate for the past 12 months was 17.33 with a Q4 quick ratio of 2.20.
How has CTSH’s stock been performing lately?
Cognizant Technology Solutions Company [CTSH] It fell into the red at the end of last week, fell in a negative direction and fell by -3.14. With this latest performance, CTSH shares are down -10.21% over the past four-week period, as well as -35.48% over the past six months — not to mention a -19.37% drop in the past year of trading.
Overbought and oversold stocks can be easily tracked by the Relative Strength Index (RSI), where an RSI result of over 70 is overbought, and any price below 30 indicates oversold conditions. An RSI of 50 is a neutral momentum in the market. CTSH stock’s current RSI for the last two weeks was set at 33.15, with the RSI for the last one trading at 30.04, and the three-week RSI set at 35.49 for Cognizant Technology Solutions Corporation [CTSH]. The current moving average for the last 50 trading days for this stock is 66.24 while it recorded at 61.90 for the last trading week, and 77.90 for the last 200 days.
Cognizant Technology Solutions Company [CTSH]: A deeper look into the basics
Operating margin for any stock indicates how profitable the investment is, Cognizant Technology Solutions Corporation [CTSH] The stock currently has an operating margin of +14.93 and a gross margin of +33.90. Cognizant Technology Solutions Corporation’s net margin is currently +11.55.
The return on equity for this stock rose to 18.72, with the return on assets remaining at 12.29.
Cognizant Technology Solutions Corporation’s liquidity data is also interesting, with the quick ratio at 2.20 and the current ratio at 2.20.
Earnings Analysis for Cognizant Technology Solutions Corporation [CTSH]
The company’s progress can be seen through the perspective of the EPS growth rate, while Wall Street analysts focus on a 5-year EPS growth forecast for CTSH. When it comes to the stated value, analysts expect Cognizant Technology Solutions Corporation’s 5-year EPS growth rate to rise to 10.30%.
Commercial Interiors for Cognizant Technology Solutions Corporation [CTSH]
There are currently approximately $28341 million, or 93.20% of CTSH’s equity, in the hands of institutional investors. The three largest CTSH shareholders are: BLACKROCK INC. With the ownership of 49107367, which is approximately 7.566% of the company’s market capitalization and about 0.10% of the total institutional ownership; VANGUARD GROUP INC., which owns 43,239,423 shares of stock with an approximate value of $2.6 billion in CTSH stock; and DODGE & COX, which currently owns $1.66 billion in CTSH stock with ownership of approximately -4.647% of the company’s market capitalization.
Positions in Cognizant Technology Solutions Corporation Stocks Held by Institutional Investors Increased at the End of July and at the Time of the July Report, as 450 Institutional Owners Increased Their Positions in Cognizant Technology Solutions Corporation [NASDAQ:CTSH] About 26,573,685 shares. In addition, 466 investors decreased by about 34,861,320 shares, while 129 investors held positions with 410,283,265 shares. The aforementioned changes put institutional holdings at 4,71718,270 shares, according to the latest report from the Securities and Exchange Commission. CTSH had 82 new institutional investments for a total of 2,075,588 shares, while 122 institutional investors sold positions worth 1,765,199 shares during the same period.