Stock Update (NASDAQ:CTSH): Cognizant Technology (CTSH) Stock Price Target Lowered at Jefferies

[at TheStreet] – Jefferies cut its price target on Cognizant Technology (CTSH) stock on Tuesday, but maintained its ‘buy’ rating. Read more on this. Cognizant Technology Solutions Corporation (CTSH) , valued at $31.82B, began trading this morning at $53.27. During today’s session, CTSH traded between $51.22 to $54.03 with its 52-week range being $51.22 to $69.80. Priced at 15.67x this year’s forecasted earnings, CTSH shares are relatively expensive compared to the industry ’s 6.91x forward p/e ratio. Consensus earnings for the current quarter by the 22 sell-side analysts covering the stock is an estimate of $0.80 per share, which would be $0.09 better than the year-ago quarter and a $0.01 sequential decrease. The full-year EPS estimate is $3.45 which would be a $0.38 improvement than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $3.29 Billion. If reported, that would be a 13.06% increase over the year-ago quarter. In terms of ratings, Sterne Agee CRT Initiated CTSH at Neutral (Dec 17, 2015). Previously, Cantor Fitzgerald Initiated CTSH at to Buy. Investors should keep in mind is that the average price target is $72.62, which is 36.32% above where the stock opened this morning. See more in (NASDAQ:CTSH) Similar Articles: Company Update: Cognizant Technology Solutions Corporation (NASDAQ:CTSH) – Cognizant to Present at the 2015 Wells Fargo Technology, Media & Telecom Conference Market Update (NASDAQ:CTSH): Cognizant Technology Solutions (CTSH) Stock Lower Ahead of Earnings Results Stock Update: Cognizant Technology Solutions Corporation (NASDAQ:CTSH) – Cognizant Schedules Third Quarter 2015 Earnings Release and Conference Call