Cognizant Technology Solutions Corp (NASDAQ:CTSH) to Post Q3 2020 Earnings of $1.01 Per Share, Wedbush Forecasts

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Cognizant Technology Solutions Corp (NASDAQ:CTSH) – Wedbush decreased their Q3 2020 earnings estimates for shares of Cognizant Technology Solutions in a report issued on Wednesday, August 7th. Wedbush analyst M. Katri now forecasts that the information technology service provider will earn $1.01 per share for the quarter, down from their prior estimate of $1.21. Wedbush currently has a “Neutral” rating and a $70.00 price objective on the stock. Wedbush also issued estimates for Cognizant Technology Solutions’ Q4 2020 earnings at $1.04 EPS.

Several other brokerages also recently weighed in on CTSH. Zacks Investment Research downgraded Cognizant Technology Solutions from a “hold” rating to a “sell” rating and set a $68.00 target price for the company. in a research note on Wednesday, July 3rd. Needham & Company LLC downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. TheStreet upgraded Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a research note on Tuesday, July 23rd. Morgan Stanley set a $64.00 target price on Cognizant Technology Solutions and gave the company a “sell” rating in a research note on Friday, May 3rd. Finally, Argus downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $74.48.

Shares of Cognizant Technology Solutions stock opened at $62.21 on Thursday. The firm’s 50-day simple moving average is $64.62. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $35.32 billion, a P/E ratio of 15.48, a PEG ratio of 1.55 and a beta of 1.01. Cognizant Technology Solutions has a 1-year low of $56.73 and a 1-year high of $78.59.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, July 31st. The information technology service provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.01. The company had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $4.13 billion. Cognizant Technology Solutions had a return on equity of 20.52% and a net margin of 12.61%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $1.05 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.80 annualized dividend and a dividend yield of 1.29%. Cognizant Technology Solutions’s payout ratio is 19.90%.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Cognizant Technology Solutions by 23.6% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 96,200 shares of the information technology service provider’s stock valued at $6,098,000 after buying an additional 18,347 shares during the last quarter. Oxbow Advisors LLC raised its holdings in shares of Cognizant Technology Solutions by 5.0% during the second quarter. Oxbow Advisors LLC now owns 39,830 shares of the information technology service provider’s stock valued at $2,525,000 after buying an additional 1,900 shares during the last quarter. LS Investment Advisors LLC raised its holdings in shares of Cognizant Technology Solutions by 1.4% during the second quarter. LS Investment Advisors LLC now owns 18,795 shares of the information technology service provider’s stock valued at $1,191,000 after buying an additional 261 shares during the last quarter. Commerce Bank raised its holdings in shares of Cognizant Technology Solutions by 5.0% during the second quarter. Commerce Bank now owns 40,054 shares of the information technology service provider’s stock valued at $2,539,000 after buying an additional 1,890 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Cognizant Technology Solutions by 150.5% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 240,850 shares of the information technology service provider’s stock valued at $15,267,000 after buying an additional 144,700 shares during the last quarter. 88.80% of the stock is currently owned by hedge funds and other institutional investors.

About Cognizant Technology Solutions

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.

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

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