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.
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?
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.