Oppenheimer Weighs in on Cognizant Technology Solutions Corp’s FY2019 Earnings (CTSH)

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Cognizant Technology Solutions Corp (NASDAQ:CTSH) – Equities researchers at Oppenheimer cut their FY2019 earnings estimates for shares of Cognizant Technology Solutions in a research report issued on Thursday, December 6th. Oppenheimer analyst G. Greene now expects that the information technology service provider will earn $4.61 per share for the year, down from their prior estimate of $4.69.

A number of other equities analysts also recently weighed in on CTSH. JPMorgan Chase & Co. downgraded shares of Cognizant Technology Solutions from an “overweight” rating to a “neutral” rating and set a $66.00 price target on the stock. in a report on Tuesday, August 14th. Bank of America downgraded shares of Cognizant Technology Solutions from a “buy” rating to an “underperform” rating and cut their price target for the stock from $91.00 to $81.00 in a report on Tuesday, September 4th. HSBC raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. Moffett Nathanson initiated coverage on shares of Cognizant Technology Solutions in a report on Thursday, October 4th. They issued a “neutral” rating and a $85.00 price target on the stock. Finally, BMO Capital Markets reissued a “buy” rating and issued a $82.00 price target on shares of Cognizant Technology Solutions in a report on Tuesday, October 30th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $82.34.

CTSH opened at $68.00 on Monday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.06. The firm has a market cap of $39.37 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 1.47 and a beta of 0.95. Cognizant Technology Solutions has a 1 year low of $65.14 and a 1 year high of $85.10.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.06. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.08 billion. Cognizant Technology Solutions had a net margin of 9.07% and a return on equity of 22.54%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Tuesday, November 20th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Monday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is currently 22.66%.

In related news, VP Malcolm Frank sold 3,190 shares of the business’s stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $70.48, for a total value of $224,831.20. Following the sale, the vice president now directly owns 22,881 shares in the company, valued at approximately $1,612,652.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sean Middleton sold 439 shares of the business’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $76.28, for a total value of $33,486.92. Following the completion of the sale, the insider now owns 5,135 shares in the company, valued at $391,697.80. The disclosure for this sale can be found here. Insiders sold a total of 15,506 shares of company stock worth $1,101,632 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in CTSH. BlackRock Inc. raised its stake in Cognizant Technology Solutions by 6.9% in the 2nd quarter. BlackRock Inc. now owns 42,845,471 shares of the information technology service provider’s stock valued at $3,384,363,000 after acquiring an additional 2,775,975 shares during the period. Voya Investment Management LLC increased its position in shares of Cognizant Technology Solutions by 909.3% during the second quarter. Voya Investment Management LLC now owns 2,163,755 shares of the information technology service provider’s stock valued at $170,915,000 after buying an additional 1,949,375 shares during the period. Commonwealth Bank of Australia increased its position in shares of Cognizant Technology Solutions by 1,273.4% during the third quarter. Commonwealth Bank of Australia now owns 2,009,285 shares of the information technology service provider’s stock valued at $154,871,000 after buying an additional 1,862,983 shares during the period. Flossbach Von Storch AG increased its position in shares of Cognizant Technology Solutions by 225.1% during the second quarter. Flossbach Von Storch AG now owns 1,464,966 shares of the information technology service provider’s stock valued at $115,718,000 after buying an additional 1,014,395 shares during the period. Finally, FIL Ltd increased its position in shares of Cognizant Technology Solutions by 30.6% during the third quarter. FIL Ltd now owns 4,093,921 shares of the information technology service provider’s stock valued at $315,846,000 after buying an additional 958,946 shares during the period. Institutional investors and hedge funds own 86.37% of the company’s stock.

Cognizant Technology Solutions Company Profile

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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Earnings History and Estimates for Cognizant Technology Solutions (NASDAQ:CTSH)

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