Q4 2017 Earnings Forecast for Cognizant Technology Solutions Corporation Issued By Jefferies Group (CTSH)

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) – Analysts at Jefferies Group reduced their Q4 2017 earnings per share estimates for shares of Cognizant Technology Solutions Corporation in a research report issued to clients and investors on Tuesday. Jefferies Group analyst R. El-Assal now expects that the information technology service provider will earn $0.87 per share for the quarter, down from their prior estimate of $0.88.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter in the prior year, the company posted $0.87 EPS. The business’s revenue was up 8.9% on a year-over-year basis.

ILLEGAL ACTIVITY WARNING: “Q4 2017 Earnings Forecast for Cognizant Technology Solutions Corporation Issued By Jefferies Group (CTSH)” was first published by Ticker Report and is owned by of Ticker Report. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The original version of this piece can be viewed at https://www.tickerreport.com/banking-finance/2798173/q4-2017-earnings-forecast-for-cognizant-technology-solutions-corporation-issued-by-jefferies-group-ctsh.html.

Other research analysts also recently issued research reports about the company. Credit Suisse Group set a $70.00 target price on Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a research note on Saturday, May 6th. Needham & Company LLC reissued a “buy” rating and set a $70.00 target price (up previously from $65.00) on shares of Cognizant Technology Solutions Corporation in a research note on Friday, May 5th. Cantor Fitzgerald reissued a “buy” rating and set a $67.00 target price on shares of Cognizant Technology Solutions Corporation in a research note on Friday, May 5th. Vetr downgraded Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating and set a $67.50 target price for the company. in a research note on Monday, May 1st. Finally, Deutsche Bank AG reissued a “buy” rating and set a $79.00 target price on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, May 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Cognizant Technology Solutions Corporation presently has an average rating of “Buy” and a consensus target price of $70.02.

Shares of Cognizant Technology Solutions Corporation (CTSH) traded down 0.37% during trading on Thursday, hitting $70.75. 580,442 shares of the stock were exchanged. The firm’s 50-day moving average is $68.52 and its 200 day moving average is $62.51. Cognizant Technology Solutions Corporation has a 1-year low of $45.44 and a 1-year high of $71.08. The company has a market cap of $41.79 billion, a P/E ratio of 22.70 and a beta of 1.17.

Several institutional investors have recently modified their holdings of CTSH. BlackRock Inc. boosted its position in shares of Cognizant Technology Solutions Corporation by 3,470.1% in the first quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock worth $2,425,316,000 after buying an additional 39,606,526 shares in the last quarter. Comgest Global Investors S.A.S. purchased a new position in shares of Cognizant Technology Solutions Corporation during the first quarter worth about $224,748,000. Thrivent Financial For Lutherans boosted its position in shares of Cognizant Technology Solutions Corporation by 11,666.2% in the first quarter. Thrivent Financial For Lutherans now owns 2,468,550 shares of the information technology service provider’s stock worth $146,928,000 after buying an additional 2,447,570 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Cognizant Technology Solutions Corporation by 112.5% in the first quarter. Alliancebernstein L.P. now owns 4,487,749 shares of the information technology service provider’s stock worth $267,111,000 after buying an additional 2,375,626 shares in the last quarter. Finally, SRS Investment Management LLC purchased a new position in shares of Cognizant Technology Solutions Corporation during the first quarter worth about $134,797,000. Institutional investors own 89.21% of the company’s stock.

In related news, COO Srinivasan Veeraraghavachary sold 3,069 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $65.00, for a total value of $199,485.00. Following the transaction, the chief operating officer now directly owns 24,737 shares in the company, valued at approximately $1,607,905. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Venkat Krishnaswamy sold 4,205 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $66.75, for a total value of $280,683.75. Following the completion of the transaction, the insider now owns 13,540 shares in the company, valued at $903,795. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,528 shares of company stock worth $5,306,449. 1.08% of the stock is owned by company insiders.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Friday, August 18th. Cognizant Technology Solutions Corporation’s dividend payout ratio is currently 19.17%.

Cognizant Technology Solutions Corporation 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 Corporation (NASDAQ:CTSH)

Receive News & Ratings for Cognizant Technology Solutions Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.