Wall Street brokerages predict that Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) will post earnings of $1.04 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Cognizant Technology Solutions’ earnings, with the highest EPS estimate coming in at $1.06 and the lowest estimate coming in at $1.00. Cognizant Technology Solutions posted earnings of $0.97 per share during the same quarter last year, which would suggest a positive year over year growth rate of 7.2%. The firm is scheduled to issue its next earnings results after the market closes on Monday, January 1st.
On average, analysts expect that Cognizant Technology Solutions will report full-year earnings of $4.57 per share for the current financial year, with EPS estimates ranging from $4.53 to $4.62. For the next financial year, analysts expect that the firm will post earnings of $5.12 per share, with EPS estimates ranging from $5.01 to $5.27. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that cover Cognizant Technology Solutions.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last posted its quarterly earnings results on Wednesday, February 2nd. The information technology service provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. Cognizant Technology Solutions had a return on equity of 19.00% and a net margin of 11.55%. The business had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the business earned $0.67 EPS. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis.
A number of research firms recently weighed in on CTSH. Morgan Stanley cut Cognizant Technology Solutions from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $91.00 to $95.00 in a research note on Monday, January 10th. UBS Group upgraded Cognizant Technology Solutions from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $58.50 to $89.00 in a research report on Thursday, January 20th. BMO Capital Markets increased their price objective on Cognizant Technology Solutions from $92.00 to $100.00 in a research report on Thursday, February 3rd. The Goldman Sachs Group started coverage on Cognizant Technology Solutions in a research report on Sunday, January 9th. They set a “buy” rating and a $104.00 price objective on the stock. Finally, StockNews.com started coverage on Cognizant Technology Solutions in a research report on Thursday, March 31st. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Cognizant Technology Solutions currently has an average rating of “Buy” and a consensus price target of $92.13.
CTSH opened at $84.74 on Friday. Cognizant Technology Solutions has a 1-year low of $66.19 and a 1-year high of $93.47. The stock’s fifty day simple moving average is $88.45 and its 200 day simple moving average is $84.34. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.05. The stock has a market cap of $44.45 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 1.55 and a beta of 1.10.
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 1st. Stockholders of record on Friday, February 18th were issued a dividend of $0.27 per share. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.24. This represents a $1.08 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Thursday, February 17th. Cognizant Technology Solutions’s dividend payout ratio is 26.67%.
In related news, Director Leo S. Jr. Mackay sold 4,778 shares of the firm’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $88.52, for a total value of $422,948.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Maureen Breakiron-Evans sold 6,371 shares of the firm’s stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $87.76, for a total value of $559,118.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,149 shares of company stock worth $1,434,568. 0.31% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Cognizant Technology Solutions by 0.4% in the third quarter. BlackRock Inc. now owns 47,901,916 shares of the information technology service provider’s stock valued at $3,554,802,000 after purchasing an additional 201,419 shares during the last quarter. State Street Corp raised its position in Cognizant Technology Solutions by 2.0% in the fourth quarter. State Street Corp now owns 23,086,842 shares of the information technology service provider’s stock valued at $2,048,265,000 after purchasing an additional 452,967 shares during the last quarter. Invesco Ltd. raised its position in Cognizant Technology Solutions by 7.2% in the fourth quarter. Invesco Ltd. now owns 17,072,441 shares of the information technology service provider’s stock valued at $1,514,667,000 after purchasing an additional 1,139,513 shares during the last quarter. Pzena Investment Management LLC raised its position in Cognizant Technology Solutions by 16.9% in the third quarter. Pzena Investment Management LLC now owns 14,110,915 shares of the information technology service provider’s stock valued at $1,047,171,000 after purchasing an additional 2,044,744 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Cognizant Technology Solutions by 32.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,291,605 shares of the information technology service provider’s stock valued at $837,952,000 after purchasing an additional 2,789,442 shares during the last quarter. 90.15% of the stock is currently owned by institutional investors and hedge funds.
Cognizant Technology Solutions Company Profile (Get Rating)
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; Healthcare; Products and Resources; and Communications, Media and Technology.
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