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Analysts expect Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) to post sales of $4.92 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Cognizant Technology Solutions’ earnings, with the lowest sales estimate coming in at $4.91 billion and the highest estimate coming in at $4.95 billion. Cognizant Technology Solutions reported sales of $4.59 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.2%. The business is scheduled to announce its next earnings report on Monday, January 1st.
On average, analysts expect that Cognizant Technology Solutions will report full-year sales of $19.99 billion for the current financial year, with estimates ranging from $19.86 billion to $20.10 billion. For the next fiscal year, analysts expect that the business will report sales of $21.67 billion, with estimates ranging from $21.18 billion to $22.00 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Cognizant Technology Solutions.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last released its earnings results on Wednesday, May 4th. The information technology service provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.83 billion. Cognizant Technology Solutions had a net margin of 11.59% and a return on equity of 19.07%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 EPS.
A number of equities research analysts have recently weighed in on the stock. Cowen reduced their price objective on shares of Cognizant Technology Solutions from $98.00 to $95.00 in a report on Monday, May 9th. Cowen reduced their price objective on shares of Cognizant Technology Solutions from $98.00 to $95.00 in a report on Monday, May 9th. Citigroup reduced their price objective on shares of Cognizant Technology Solutions from $95.00 to $88.00 in a report on Thursday, May 5th. BMO Capital Markets raised their price objective on shares of Cognizant Technology Solutions from $92.00 to $100.00 in a report on Thursday, February 3rd. Finally, Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating and set a $79.00 price objective on the stock in a report on Monday, May 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $91.69.
Cognizant Technology Solutions stock opened at $74.73 on Monday. Cognizant Technology Solutions has a 52-week low of $66.19 and a 52-week high of $93.47. The company’s 50 day moving average is $82.21 and its two-hundred day moving average is $84.35. The firm has a market cap of $38.95 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 1.38 and a beta of 1.10. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.05.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Friday, May 20th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.45%. The ex-dividend date is Thursday, May 19th. Cognizant Technology Solutions’s payout ratio is currently 25.90%.
In other news, Director Leo S. Jr. Mackay sold 4,778 shares of Cognizant Technology Solutions stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $88.52, for a total value of $422,948.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Andrew J. Stafford sold 5,867 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $77.24, for a total transaction of $453,167.08. Following the completion of the sale, the executive vice president now directly owns 5,872 shares in the company, valued at approximately $453,553.28. The disclosure for this sale can be found here. Insiders have sold a total of 16,332 shares of company stock worth $1,299,228 over the last three months. 0.34% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Albion Financial Group UT boosted its holdings in shares of Cognizant Technology Solutions by 1.0% in the fourth quarter. Albion Financial Group UT now owns 11,994 shares of the information technology service provider’s stock valued at $1,064,000 after acquiring an additional 117 shares in the last quarter. Covington Capital Management boosted its holdings in Cognizant Technology Solutions by 6.9% during the fourth quarter. Covington Capital Management now owns 1,804 shares of the information technology service provider’s stock worth $160,000 after buying an additional 117 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Cognizant Technology Solutions by 4.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 3,007 shares of the information technology service provider’s stock worth $266,000 after buying an additional 124 shares in the last quarter. SP Asset Management boosted its holdings in Cognizant Technology Solutions by 0.3% during the fourth quarter. SP Asset Management now owns 47,145 shares of the information technology service provider’s stock worth $4,074,000 after buying an additional 135 shares in the last quarter. Finally, Concord Wealth Partners boosted its holdings in Cognizant Technology Solutions by 8.2% during the first quarter. Concord Wealth Partners now owns 1,826 shares of the information technology service provider’s stock worth $164,000 after buying an additional 138 shares in the last quarter. 90.73% of the stock is currently owned by institutional investors and hedge funds.
About Cognizant Technology Solutions (Get Rating)
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.
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