Equities research analysts expect Cognizant Technology Solutions Corp (NASDAQ:CTSH) to report $1.07 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Ten analysts have made estimates for Cognizant Technology Solutions’ earnings. The lowest EPS estimate is $1.05 and the highest is $1.08. Cognizant Technology Solutions posted earnings of $1.03 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.9%. The firm is scheduled to report its next earnings report on Wednesday, February 6th.
On average, analysts expect that Cognizant Technology Solutions will report full-year earnings of $4.51 per share for the current financial year, with EPS estimates ranging from $4.50 to $4.53. For the next year, analysts expect that the business will report earnings of $4.97 per share, with EPS estimates ranging from $4.40 to $5.20. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Cognizant Technology Solutions.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.06. Cognizant Technology Solutions had a return on equity of 22.54% and a net margin of 9.07%. The firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period last year, the business posted $0.98 EPS. The business’s revenue was up 8.3% compared to the same quarter last year.
CTSH has been the subject of several research reports. Cowen downgraded Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and set a $75.00 target price for the company. in a research note on Monday, November 26th. Loop Capital set a $94.00 target price on Cognizant Technology Solutions and gave the company a “buy” rating in a research note on Monday, November 19th. BMO Capital Markets restated a “hold” rating and issued a $75.00 target price on shares of Cognizant Technology Solutions in a research note on Tuesday, November 20th. Jefferies Financial Group initiated coverage on Cognizant Technology Solutions in a research note on Tuesday, November 20th. They issued a “hold” rating and a $70.00 target price for the company. Finally, BidaskClub upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $82.34.
In related news, EVP Allen Shaheen sold 1,232 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $71.51, for a total value of $88,100.32. Following the transaction, the executive vice president now owns 6,120 shares of the company’s stock, valued at approximately $437,641.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James Patrick Lennox sold 744 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $76.68, for a total transaction of $57,049.92. Following the completion of the transaction, the executive vice president now directly owns 5,920 shares in the company, valued at approximately $453,945.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,506 shares of company stock worth $1,101,632. 0.60% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Redwood Investments LLC bought a new position in shares of Cognizant Technology Solutions during the 2nd quarter worth approximately $917,000. Madison Investment Holdings Inc. bought a new position in shares of Cognizant Technology Solutions during the 2nd quarter worth approximately $50,081,000. Natixis bought a new position in shares of Cognizant Technology Solutions during the 2nd quarter worth approximately $8,902,000. Andra AP fonden lifted its position in shares of Cognizant Technology Solutions by 15.7% during the 2nd quarter. Andra AP fonden now owns 134,600 shares of the information technology service provider’s stock worth $10,632,000 after buying an additional 18,300 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Cognizant Technology Solutions by 0.9% during the 3rd quarter. Wells Fargo & Company MN now owns 5,408,653 shares of the information technology service provider’s stock worth $417,279,000 after buying an additional 49,725 shares in the last quarter. 86.37% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cognizant Technology Solutions stock opened at $68.00 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.24 and a quick ratio of 3.24. Cognizant Technology Solutions has a 1-year low of $65.14 and a 1-year high of $85.10. The stock has a market cap of $40.18 billion, a price-to-earnings ratio of 19.26, a price-to-earnings-growth ratio of 1.50 and a beta of 0.95.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Tuesday, November 20th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, November 19th. This represents a $0.80 annualized dividend and a yield of 1.18%. Cognizant Technology Solutions’s payout ratio is 22.66%.
About Cognizant Technology Solutions
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.
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