KeyCorp Comments on Cognizant Technology Solutions Corp’s FY2019 Earnings (CTSH)

Cognizant Technology Solutions Corp (NASDAQ:CTSH) – Research analysts at KeyCorp issued their FY2019 earnings per share estimates for Cognizant Technology Solutions in a research note issued on Wednesday. KeyCorp analyst A. Ramnani anticipates that the information technology service provider will post earnings per share of $4.89 for the year.

Other research analysts have also recently issued reports about the company. Zacks Investment Research raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Wednesday, January 10th. BMO Capital Markets upped their price objective on Cognizant Technology Solutions from $78.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday. BidaskClub raised Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. SunTrust Banks reaffirmed a “buy” rating and set a $90.00 price objective on shares of Cognizant Technology Solutions in a research report on Wednesday, February 7th. Finally, Pivotal Research reaffirmed a “buy” rating and set a $93.00 price objective on shares of Cognizant Technology Solutions in a research report on Wednesday, February 7th. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. Cognizant Technology Solutions presently has a consensus rating of “Buy” and an average target price of $84.21.

Cognizant Technology Solutions (NASDAQ CTSH) opened at $76.91 on Monday. Cognizant Technology Solutions has a one year low of $57.00 and a one year high of $79.28. The company has a market capitalization of $44,984.02, a price-to-earnings ratio of 30.15, a P/E/G ratio of 1.53 and a beta of 1.11. The company has a current ratio of 3.21, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.15. Cognizant Technology Solutions had a return on equity of 19.94% and a net margin of 10.15%. The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the previous year, the firm posted $0.87 EPS. Cognizant Technology Solutions’s revenue for the quarter was up 10.6% on a year-over-year basis.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Thursday, February 22nd will be given a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, February 21st. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.04%. Cognizant Technology Solutions’s dividend payout ratio is 23.72%.

In related news, insider Sumithra Gomatam sold 2,625 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $76.00, for a total value of $199,500.00. Following the completion of the sale, the insider now directly owns 40,979 shares of the company’s stock, valued at approximately $3,114,404. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Francisco Dsouza sold 482,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $72.04, for a total value of $34,723,280.00. Following the completion of the sale, the chief executive officer now directly owns 621,643 shares of the company’s stock, valued at $44,783,161.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 994,079 shares of company stock valued at $73,129,749. Insiders own 1.08% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Linscomb & Williams Inc. purchased a new stake in Cognizant Technology Solutions during the 3rd quarter valued at approximately $278,000. Robeco Institutional Asset Management B.V. raised its stake in Cognizant Technology Solutions by 45.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 143,385 shares of the information technology service provider’s stock valued at $10,401,000 after acquiring an additional 44,982 shares during the last quarter. Rothschild Asset Management Inc. purchased a new stake in Cognizant Technology Solutions during the 3rd quarter valued at approximately $12,538,000. Tandem Investment Advisors Inc. raised its stake in Cognizant Technology Solutions by 164.0% during the 4th quarter. Tandem Investment Advisors Inc. now owns 42,030 shares of the information technology service provider’s stock valued at $2,985,000 after acquiring an additional 26,111 shares during the last quarter. Finally, AXA raised its stake in Cognizant Technology Solutions by 11.3% during the 3rd quarter. AXA now owns 371,160 shares of the information technology service provider’s stock valued at $26,924,000 after acquiring an additional 37,600 shares during the last quarter. 86.87% of the stock is owned by hedge funds and other institutional investors.

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Cognizant Technology Solutions 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.

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

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