Analysts expect Cognizant Technology Solutions Corporation (NASDAQ:CTSH) to report $3.76 billion in sales for the current quarter, Zacks reports. Ten analysts have provided 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 $3.77 billion. Cognizant Technology Solutions Corporation posted sales of $3.45 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 9%. The firm is expected to report its next earnings results before the market opens on Wednesday, November 1st.

According to Zacks, analysts expect that Cognizant Technology Solutions Corporation will report full year sales of $3.76 billion for the current fiscal year, with estimates ranging from $14.73 billion to $14.81 billion. For the next year, analysts expect that the business will post sales of $16.13 billion per share, with estimates ranging from $15.99 billion to $16.25 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Cognizant Technology Solutions Corporation.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter in the previous year, the business posted $0.87 earnings per share. Cognizant Technology Solutions Corporation’s quarterly revenue was up 8.9% on a year-over-year basis.

A number of brokerages have issued reports on CTSH. Needham & Company LLC reaffirmed a “buy” rating and issued a $78.00 target price (up from $72.00) on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, August 9th. Berenberg Bank upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and raised their target price for the company from $65.00 to $85.00 in a report on Tuesday, August 8th. Zacks Investment Research upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a report on Tuesday, August 8th. BMO Capital Markets restated a “buy” rating and set a $76.00 target price (up from $69.00) on shares of Cognizant Technology Solutions Corporation in a report on Friday, August 4th. Finally, Loop Capital upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the company from $63.00 to $83.00 in a research note on Friday, August 4th. Four investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Cognizant Technology Solutions Corporation has an average rating of “Buy” and a consensus price target of $74.07.

In related news, President Rajeev Mehta sold 34,437 shares of Cognizant Technology Solutions Corporation stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $72.54, for a total transaction of $2,498,059.98. Following the completion of the sale, the president now owns 170,063 shares of the company’s stock, valued at $12,336,370.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Allen Shaheen sold 442 shares of Cognizant Technology Solutions Corporation stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $70.58, for a total value of $31,196.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 281,095 shares of company stock valued at $20,095,913. Corporate insiders own 1.08% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC raised its holdings in Cognizant Technology Solutions Corporation by 92.6% during the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock valued at $110,000 after buying an additional 800 shares in the last quarter. WFG Advisors LP increased its stake in shares of Cognizant Technology Solutions Corporation by 46.4% in the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after purchasing an additional 621 shares during the period. Krilogy Financial LLC bought a new position in shares of Cognizant Technology Solutions Corporation in the second quarter worth about $137,000. Guardian Life Insurance Co. of America increased its stake in shares of Cognizant Technology Solutions Corporation by 1.2% in the first quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock worth $140,000 after purchasing an additional 27 shares during the period. Finally, Manchester Capital Management LLC increased its stake in shares of Cognizant Technology Solutions Corporation by 15.7% in the second quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock worth $181,000 after purchasing an additional 370 shares during the period. 87.16% of the stock is owned by hedge funds and other institutional investors.

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Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up 0.22% during midday trading on Tuesday, reaching $74.56. 1,783,088 shares of the company traded hands. Cognizant Technology Solutions Corporation has a 1-year low of $50.31 and a 1-year high of $75.00. The firm has a market capitalization of $44.04 billion, a PE ratio of 23.92 and a beta of 1.12. The stock has a 50 day moving average price of $72.73 and a 200 day moving average price of $67.93.

About Cognizant Technology Solutions Corporation

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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