Cantor Fitzgerald Brokers Boost Earnings Estimates for Cognizant Technology Solutions Corp (NASDAQ:CTSH)

Share on StockTwits

Cognizant Technology Solutions Corp (NASDAQ:CTSH) – Equities research analysts at Cantor Fitzgerald boosted their FY2020 earnings estimates for shares of Cognizant Technology Solutions in a report issued on Thursday, August 1st. Cantor Fitzgerald analyst J. Foresi now anticipates that the information technology service provider will earn $4.37 per share for the year, up from their previous estimate of $4.33. Cantor Fitzgerald has a “Overweight” rating and a $75.00 price target on the stock.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. Cognizant Technology Solutions had a return on equity of 20.52% and a net margin of 12.61%. The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. The company’s revenue was up 3.4% compared to the same quarter last year.

Other equities research analysts have also issued research reports about the company. Argus lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Oppenheimer lowered Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating in a research note on Friday, May 3rd. Needham & Company LLC lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Nomura lowered Cognizant Technology Solutions to a “hold” rating in a research note on Friday, May 3rd. Finally, TheStreet raised Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a research note on Tuesday, July 23rd. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $74.48.

Shares of CTSH stock opened at $62.58 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.55 and a current ratio of 2.55. The business’s 50-day moving average price is $64.66. Cognizant Technology Solutions has a 12-month low of $56.73 and a 12-month high of $78.83. The company has a market capitalization of $36.14 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 1.59 and a beta of 1.01.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 22nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.80 annualized dividend and a dividend yield of 1.28%. Cognizant Technology Solutions’s dividend payout ratio is currently 19.90%.

In other Cognizant Technology Solutions news, CEO Brian Humphries purchased 19,000 shares of Cognizant Technology Solutions stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average price of $61.09 per share, for a total transaction of $1,160,710.00. Following the acquisition, the chief executive officer now directly owns 19,000 shares in the company, valued at $1,160,710. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert Telesmanic sold 3,343 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $60.00, for a total value of $200,580.00. Following the transaction, the senior vice president now owns 7,337 shares in the company, valued at approximately $440,220. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,120 shares of company stock worth $2,960,866. Company insiders own 0.56% of the company’s stock.

A number of large investors have recently made changes to their positions in CTSH. FMR LLC increased its holdings in Cognizant Technology Solutions by 21.9% during the 1st quarter. FMR LLC now owns 15,767,608 shares of the information technology service provider’s stock valued at $1,142,362,000 after purchasing an additional 2,827,833 shares during the period. BlackRock Inc. increased its holdings in Cognizant Technology Solutions by 4.7% during the 1st quarter. BlackRock Inc. now owns 47,153,467 shares of the information technology service provider’s stock valued at $3,416,269,000 after purchasing an additional 2,129,464 shares during the period. Yacktman Asset Management LP increased its holdings in Cognizant Technology Solutions by 98.0% during the 2nd quarter. Yacktman Asset Management LP now owns 2,686,111 shares of the information technology service provider’s stock valued at $170,273,000 after purchasing an additional 1,329,559 shares during the period. Investec Asset Management LTD purchased a new position in Cognizant Technology Solutions during the 1st quarter valued at about $91,531,000. Finally, FIL Ltd increased its holdings in Cognizant Technology Solutions by 20.7% during the 1st quarter. FIL Ltd now owns 6,537,319 shares of the information technology service provider’s stock valued at $473,628,000 after purchasing an additional 1,122,420 shares during the period. Institutional investors own 88.80% 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 analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

Read More: How is diluted EPS different from basic EPS?

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

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



Latest News

Markel Corp Acquires 2,400 Shares of JPMorgan Chase & Co.
Markel Corp Acquires 2,400 Shares of JPMorgan Chase & Co.
Walt Disney Co  is K.J. Harrison & Partners Inc’s 10th Largest Position
Walt Disney Co is K.J. Harrison & Partners Inc’s 10th Largest Position
Walt Disney Co  Holdings Boosted by Matthew Goff Investment Advisor LLC
Walt Disney Co Holdings Boosted by Matthew Goff Investment Advisor LLC
McKinley Carter Wealth Services Inc. Has $1.34 Million Position in Cisco Systems, Inc.
McKinley Carter Wealth Services Inc. Has $1.34 Million Position in Cisco Systems, Inc.
Qube Research & Technologies Ltd Lowers Stock Holdings in Cisco Systems, Inc.
Qube Research & Technologies Ltd Lowers Stock Holdings in Cisco Systems, Inc.
Cisco Systems, Inc.  Shares Sold by Quest Capital Management Inc. ADV
Cisco Systems, Inc. Shares Sold by Quest Capital Management Inc. ADV


© 2006-2019 Ticker Report