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Brokerages expect that Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) will post sales of $4.83 billion for the current quarter, according to Zacks. Six analysts have made estimates for Cognizant Technology Solutions’ earnings, with estimates ranging from $4.81 billion to $4.84 billion. Cognizant Technology Solutions posted sales of $4.40 billion during the same quarter last year, which suggests a positive year over year growth rate of 9.8%. The business is expected to issue its next quarterly earnings results after the market closes on Monday, January 1st.
On average, analysts expect that Cognizant Technology Solutions will report full-year sales of $20.26 billion for the current year, with estimates ranging from $20.01 billion to $20.44 billion. For the next financial year, analysts forecast that the business will post sales of $22.03 billion, with estimates ranging from $21.61 billion to $22.30 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Cognizant Technology Solutions.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last posted its quarterly earnings data on Wednesday, February 2nd. The information technology service provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.06. The company had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Cognizant Technology Solutions had a return on equity of 19.00% and a net margin of 11.55%. Cognizant Technology Solutions’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 earnings per share.
CTSH has been the subject of a number of analyst reports. Barclays upped their price target on Cognizant Technology Solutions from $78.00 to $85.00 and gave the stock an “underweight” rating in a research report on Monday, February 7th. Deutsche Bank Aktiengesellschaft upped their price target on Cognizant Technology Solutions from $81.00 to $92.00 and gave the stock a “hold” rating in a research report on Monday, January 24th. Cowen upped their price target on Cognizant Technology Solutions from $93.00 to $98.00 in a research report on Thursday, February 3rd. The Goldman Sachs Group began coverage on Cognizant Technology Solutions in a research note on Sunday, January 9th. They issued a “buy” rating and a $104.00 price objective for the company. Finally, UBS Group raised Cognizant Technology Solutions from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $58.50 to $89.00 in a research note on Thursday, January 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $92.13.
In related news, Director Leo S. Jr. Mackay sold 4,778 shares of the business’s stock in a transaction on 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 legal filing with the SEC, which is accessible through this link. Also, Director Maureen Breakiron-Evans sold 6,371 shares of the business’s stock in a transaction on Friday, February 25th. The stock was sold at an average price of $87.76, for a total transaction of $559,118.96. The disclosure for this sale can be found here. Insiders sold 16,149 shares of company stock worth $1,434,568 in the last 90 days. 0.31% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. AE Wealth Management LLC increased its position in Cognizant Technology Solutions by 3.4% during the first quarter. AE Wealth Management LLC now owns 49,720 shares of the information technology service provider’s stock valued at $4,458,000 after acquiring an additional 1,626 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Cognizant Technology Solutions during the first quarter valued at $1,399,000. Spire Wealth Management increased its position in Cognizant Technology Solutions by 6,490.9% during the first quarter. Spire Wealth Management now owns 117,713 shares of the information technology service provider’s stock valued at $10,571,000 after acquiring an additional 115,927 shares during the last quarter. IFM Investors Pty Ltd increased its position in Cognizant Technology Solutions by 20.4% during the first quarter. IFM Investors Pty Ltd now owns 82,827 shares of the information technology service provider’s stock valued at $7,427,000 after acquiring an additional 14,006 shares during the last quarter. Finally, KCS Wealth Advisory increased its position in Cognizant Technology Solutions by 3.6% during the first quarter. KCS Wealth Advisory now owns 20,520 shares of the information technology service provider’s stock valued at $1,840,000 after acquiring an additional 709 shares during the last quarter. Institutional investors and hedge funds own 90.15% of the company’s stock.
Shares of CTSH opened at $84.61 on Tuesday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.05. The business has a 50-day simple moving average of $88.36 and a two-hundred day simple moving average of $84.47. The stock has a market cap of $44.38 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 1.55 and a beta of 1.10. Cognizant Technology Solutions has a 52 week low of $66.19 and a 52 week high of $93.47.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 1st. Investors of record on Friday, February 18th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.28%. The ex-dividend date was Thursday, February 17th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.24. Cognizant Technology Solutions’s payout ratio is currently 26.67%.
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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