Cognizant Technology Solutions Corp to Post Q4 2018 Earnings of $1.04 Per Share, Wedbush Forecasts (CTSH)

Cognizant Technology Solutions Corp (NASDAQ:CTSH) – Wedbush lifted their Q4 2018 earnings estimates for Cognizant Technology Solutions in a research report issued to clients and investors on Tuesday. Wedbush analyst M. Katri now expects that the information technology service provider will earn $1.04 per share for the quarter, up from their previous forecast of $1.02. Wedbush has a “Outperform” rating on the stock. Wedbush also issued estimates for Cognizant Technology Solutions’ Q2 2019 earnings at $1.16 EPS.

A number of other equities research analysts also recently issued reports on CTSH. Vetr upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “buy” rating and set a $76.85 target price for the company in a research report on Tuesday, September 19th. Royal Bank of Canada restated a “buy” rating and set a $77.00 price target on shares of Cognizant Technology Solutions in a research note on Sunday, October 8th. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Tuesday, October 10th. Jefferies Group restated a “buy” rating and set a $81.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, October 12th. Finally, Cowen restated a “buy” rating and set a $80.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $81.75.

Cognizant Technology Solutions (NASDAQ CTSH) traded up $0.55 during mid-day trading on Thursday, reaching $74.56. 3,816,291 shares of the company’s stock were exchanged, compared to its average volume of 3,740,000. Cognizant Technology Solutions has a 12 month low of $51.52 and a 12 month high of $76.51. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07. The stock has a market cap of $43,960.00, a P/E ratio of 23.08, a price-to-earnings-growth ratio of 1.40 and a beta of 1.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.13. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The company’s revenue was up 9.1% compared to the same quarter last year.

Several large investors have recently added to or reduced their stakes in CTSH. Acrospire Investment Management LLC lifted its holdings in shares of Cognizant Technology Solutions by 92.6% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock worth $110,000 after acquiring an additional 800 shares during the period. Bank of Nova Scotia Trust Co. bought a new position in shares of Cognizant Technology Solutions during the 3rd quarter worth about $121,000. WFG Advisors LP lifted its holdings in shares of Cognizant Technology Solutions by 46.4% during the 2nd quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after acquiring an additional 621 shares during the period. Krilogy Financial LLC bought a new position in shares of Cognizant Technology Solutions during the 2nd quarter worth about $137,000. Finally, BB&T Investment Services Inc. lifted its holdings in shares of Cognizant Technology Solutions by 86.8% during the 3rd quarter. BB&T Investment Services Inc. now owns 2,176 shares of the information technology service provider’s stock worth $141,000 after acquiring an additional 1,011 shares during the period. 85.98% of the stock is owned by institutional investors.

In other Cognizant Technology Solutions news, insider Sumithra Gomatam sold 3,163 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $76.00, for a total value of $240,388.00. Following the sale, the insider now directly owns 6,346 shares in the company, valued at approximately $482,296. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Venkat Krishnaswamy sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $75.00, for a total transaction of $300,000.00. Following the transaction, the insider now directly owns 3,919 shares of the company’s stock, valued at $293,925. The disclosure for this sale can be found here. Insiders sold a total of 807,286 shares of company stock worth $58,679,209 over the last 90 days. Company insiders own 1.08% of the company’s stock.

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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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