Cognizant Technology Solutions Co. (NASDAQ:CTSH) Expected to Announce Earnings of $0.96 Per Share

Equities analysts expect Cognizant Technology Solutions Co. (NASDAQ:CTSH) to post earnings of $0.96 per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Cognizant Technology Solutions’ earnings, with estimates ranging from $0.93 to $0.98. Cognizant Technology Solutions posted earnings of $0.82 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 17.1%. The firm is scheduled to announce its next earnings report on Wednesday, August 4th.

According to Zacks, analysts expect that Cognizant Technology Solutions will report full-year earnings of $3.98 per share for the current fiscal year, with EPS estimates ranging from $3.89 to $4.03. For the next year, analysts anticipate that the business will report earnings of $4.41 per share, with EPS estimates ranging from $4.24 to $4.56. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Cognizant Technology Solutions.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Tuesday, May 4th. The information technology service provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.94 by $0.03. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 9.09%. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter last year, the firm posted $0.96 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis.

Several research analysts have issued reports on CTSH shares. Zacks Investment Research upgraded Cognizant Technology Solutions from a “sell” rating to a “hold” rating and set a $79.00 price target on the stock in a report on Monday, May 10th. Susquehanna Bancshares increased their price target on Cognizant Technology Solutions from $89.00 to $99.00 and gave the stock a “positive” rating in a report on Thursday, May 6th. Susquehanna increased their price target on Cognizant Technology Solutions from $89.00 to $99.00 and gave the stock a “positive” rating in a report on Thursday, May 6th. Finally, Morgan Stanley cut their price target on Cognizant Technology Solutions from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Thursday, May 6th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $79.82.

NASDAQ CTSH traded down $0.08 during trading hours on Thursday, hitting $71.17. 3,182,613 shares of the company’s stock were exchanged, compared to its average volume of 3,475,058. The firm has a 50-day moving average of $75.85. Cognizant Technology Solutions has a 1-year low of $52.50 and a 1-year high of $82.73. The stock has a market cap of $37.54 billion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 28th. Investors of record on Thursday, May 20th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, May 19th. This represents a $0.96 dividend on an annualized basis and a yield of 1.35%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.07%.

In other Cognizant Technology Solutions news, Director Michael Patsalos-Fox sold 5,858 shares of the firm’s stock in a transaction on Thursday, May 27th. The stock was sold at an average price of $71.20, for a total value of $417,089.60. Following the completion of the sale, the director now directly owns 57,830 shares of the company’s stock, valued at $4,117,496. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Malcolm Frank sold 471 shares of the firm’s stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $78.45, for a total value of $36,949.95. Following the completion of the sale, the insider now directly owns 44,065 shares of the company’s stock, valued at $3,456,899.25. The disclosure for this sale can be found here. Insiders have sold 7,560 shares of company stock worth $541,378 over the last quarter. 0.31% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in Cognizant Technology Solutions by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 22,771,997 shares of the information technology service provider’s stock worth $1,866,164,000 after buying an additional 295,370 shares during the last quarter. Artisan Partners Limited Partnership increased its position in Cognizant Technology Solutions by 3.8% in the first quarter. Artisan Partners Limited Partnership now owns 11,808,879 shares of the information technology service provider’s stock worth $922,510,000 after buying an additional 432,664 shares during the last quarter. Pzena Investment Management LLC increased its position in Cognizant Technology Solutions by 18.7% in the first quarter. Pzena Investment Management LLC now owns 10,193,327 shares of the information technology service provider’s stock worth $796,303,000 after buying an additional 1,605,316 shares during the last quarter. Geode Capital Management LLC increased its position in Cognizant Technology Solutions by 1.8% in the first quarter. Geode Capital Management LLC now owns 8,216,795 shares of the information technology service provider’s stock worth $640,003,000 after buying an additional 142,082 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Cognizant Technology Solutions by 1.9% in the first quarter. Alliancebernstein L.P. now owns 7,301,520 shares of the information technology service provider’s stock worth $570,395,000 after buying an additional 138,528 shares during the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.

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

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