Wall Street analysts predict that Cognizant Technology Solutions Corporation (NASDAQ:CTSH) will post sales of $3.76 billion for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for Cognizant Technology Solutions Corporation’s earnings, with the lowest sales estimate coming in at $3.74 billion and the highest estimate coming in at $3.80 billion. Cognizant Technology Solutions Corporation reported sales of $3.45 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 9%. The firm is scheduled to report its next earnings results on Monday, November 6th.

According to Zacks, analysts expect that Cognizant Technology Solutions Corporation will report full-year sales of $3.76 billion for the current financial year, with estimates ranging from $14.76 billion to $14.82 billion. For the next year, analysts expect that the firm will post sales of $16.14 billion per share, with estimates ranging from $15.99 billion to $16.31 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Cognizant Technology Solutions Corporation.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year.

CTSH has been the subject of a number of analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and set a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Wednesday, May 31st. Bank of America Corporation reaffirmed a “buy” rating and set a $86.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Tuesday. HSBC Holdings plc downgraded shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and raised their price objective for the stock from $65.00 to $68.00 in a report on Thursday, June 8th. Pacific Crest reaffirmed an “overweight” rating and set a $75.00 price objective (up from $73.00) on shares of Cognizant Technology Solutions Corporation in a report on Thursday, June 1st. Finally, Cowen and Company reaffirmed a “buy” rating and set a $75.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Friday, July 28th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $72.30.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 71.82 on Friday. The company has a market cap of $42.42 billion, a P/E ratio of 23.04 and a beta of 1.14. Cognizant Technology Solutions Corporation has a 12 month low of $45.44 and a 12 month high of $73.00. The company’s 50 day moving average is $70.58 and its 200-day moving average is $65.16.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Friday, August 18th. Cognizant Technology Solutions Corporation’s payout ratio is presently 19.17%.

In other news, insider Sean Middleton sold 1,460 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $67.39, for a total transaction of $98,389.40. Following the completion of the sale, the insider now owns 2,308 shares in the company, valued at approximately $155,536.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Allen Shaheen sold 442 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $70.58, for a total transaction of $31,196.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 282,267 shares of company stock valued at $20,127,629. 1.08% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Cornerstone Advisors Inc. grew its position in shares of Cognizant Technology Solutions Corporation by 0.3% during the 2nd quarter. Cornerstone Advisors Inc. now owns 3,633 shares of the information technology service provider’s stock worth $241,000 after buying an additional 11 shares during the period. Guardian Life Insurance Co. of America grew its position in shares of Cognizant Technology Solutions Corporation by 1.2% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock worth $140,000 after buying an additional 27 shares during the period. First Capital Advisors Group LLC. grew its position in shares of Cognizant Technology Solutions Corporation by 0.9% during the 2nd quarter. First Capital Advisors Group LLC. now owns 3,676 shares of the information technology service provider’s stock worth $244,000 after buying an additional 32 shares during the period. Comerica Securities Inc. grew its position in shares of Cognizant Technology Solutions Corporation by 0.4% during the 2nd quarter. Comerica Securities Inc. now owns 7,810 shares of the information technology service provider’s stock worth $519,000 after buying an additional 32 shares during the period. Finally, CENTRAL TRUST Co grew its position in shares of Cognizant Technology Solutions Corporation by 0.5% during the 2nd quarter. CENTRAL TRUST Co now owns 6,403 shares of the information technology service provider’s stock worth $425,000 after buying an additional 35 shares during the period. Institutional investors own 87.64% of the company’s stock.

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Cognizant Technology Solutions Corporation Company Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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Earnings History and Estimates for Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

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