$3.83 Billion in Sales Expected for Cognizant Technology Solutions Corp (CTSH) This Quarter

Wall Street analysts expect Cognizant Technology Solutions Corp (NASDAQ:CTSH) to report $3.83 billion in sales for the current quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Cognizant Technology Solutions’ earnings, with the lowest sales estimate coming in at $3.80 billion and the highest estimate coming in at $3.84 billion. Cognizant Technology Solutions reported sales of $3.46 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 10.7%. The company is expected to announce its next quarterly earnings report before the market opens on Wednesday, February 7th.

According to Zacks, analysts expect that Cognizant Technology Solutions will report full-year sales of $3.83 billion for the current year, with estimates ranging from $14.73 billion to $14.83 billion. For the next fiscal year, analysts expect that the company will post sales of $16.17 billion per share, with estimates ranging from $16.02 billion to $16.30 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Cognizant Technology Solutions.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the company earned $0.86 EPS. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year.

A number of analysts recently weighed in on CTSH shares. KeyCorp reaffirmed a “buy” rating and issued a $79.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, October 12th. Cowen reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, October 12th. Jefferies Group reissued a “buy” rating and set a $81.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, October 12th. Zacks Investment Research raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Tuesday, October 10th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $77.00 target price on shares of Cognizant Technology Solutions in a research note on Sunday, October 8th. Five investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $81.98.

Cognizant Technology Solutions (CTSH) traded up $0.54 during mid-day trading on Monday, hitting $77.29. 3,178,700 shares of the company were exchanged, compared to its average volume of 3,674,154. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29. Cognizant Technology Solutions has a 1-year low of $51.52 and a 1-year high of $77.38. The firm has a market cap of $46,150.00, a PE ratio of 23.93, a PEG ratio of 1.48 and a beta of 1.08.

In other Cognizant Technology Solutions news, VP Malcolm Frank sold 9,462 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $70.61, for a total value of $668,111.82. Following the completion of the transaction, the vice president now directly owns 15,533 shares in the company, valued at $1,096,785.13. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sean Middleton sold 1,278 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $71.36, for a total transaction of $91,198.08. Following the completion of the transaction, the insider now owns 3,366 shares of the company’s stock, valued at $240,197.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 889,911 shares of company stock valued at $64,936,834. Insiders own 1.08% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in CTSH. Harding Loevner LP boosted its holdings in shares of Cognizant Technology Solutions by 2,085,162.4% in the third quarter. Harding Loevner LP now owns 3,544,946 shares of the information technology service provider’s stock worth $142,254,000 after buying an additional 3,544,776 shares during the period. Comgest Global Investors S.A.S. boosted its holdings in shares of Cognizant Technology Solutions by 24.5% during the third quarter. Comgest Global Investors S.A.S. now owns 7,416,617 shares of the information technology service provider’s stock worth $538,001,000 after purchasing an additional 1,461,800 shares during the period. Edgewood Management LLC boosted its holdings in shares of Cognizant Technology Solutions by 9.3% during the third quarter. Edgewood Management LLC now owns 16,915,676 shares of the information technology service provider’s stock worth $1,227,063,000 after purchasing an additional 1,443,368 shares during the period. Koch Industries Inc. acquired a new stake in shares of Cognizant Technology Solutions during the second quarter worth approximately $861,000. Finally, Schroder Investment Management Group boosted its holdings in shares of Cognizant Technology Solutions by 21.7% during the third quarter. Schroder Investment Management Group now owns 3,984,247 shares of the information technology service provider’s stock worth $287,424,000 after purchasing an additional 710,987 shares during the period. Institutional investors own 86.11% of the company’s stock.

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About Cognizant Technology Solutions

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 (NASDAQ:CTSH)

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