Cognizant Technology Solutions Corporation to Post FY2017 Earnings of $3.33 Per Share, Wedbush Forecasts (CTSH)

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) – Analysts at Wedbush raised their FY2017 EPS estimates for shares of Cognizant Technology Solutions Corporation in a research note issued to investors on Monday. Wedbush analyst M. Katri now expects that the information technology service provider will earn $3.33 per share for the year, up from their previous forecast of $3.30. Wedbush has a “Outperform” rating on the stock. Wedbush also issued estimates for Cognizant Technology Solutions Corporation’s Q3 2018 earnings at $0.98 EPS and FY2018 earnings at $3.89 EPS.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.11. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.65 billion. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.87 EPS.

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CTSH has been the topic of several other research reports. Deutsche Bank AG restated a “buy” rating and set a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, May 31st. Bank of America Corporation reissued a “buy” rating and set a $86.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Tuesday, September 12th. HSBC Holdings plc downgraded shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and increased their target price for the stock from $65.00 to $68.00 in a research report on Thursday, June 8th. Pacific Crest reissued an “overweight” rating and set a $75.00 target price (up from $73.00) on shares of Cognizant Technology Solutions Corporation in a research report on Thursday, June 1st. Finally, Cowen and Company reissued a “buy” rating and set a $75.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Friday, July 28th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Cognizant Technology Solutions Corporation has a consensus rating of “Buy” and a consensus price target of $72.30.

Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 72.04 on Tuesday. Cognizant Technology Solutions Corporation has a one year low of $45.44 and a one year high of $73.00. The firm has a 50-day moving average price of $70.66 and a 200 day moving average price of $65.32. The stock has a market capitalization of $42.55 billion, a PE ratio of 23.11 and a beta of 1.14.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd were given a $0.15 dividend. The ex-dividend date was Friday, August 18th. This represents a $0.60 dividend on an annualized basis and a yield of 0.83%. Cognizant Technology Solutions Corporation’s dividend payout ratio is currently 19.17%.

In other Cognizant Technology Solutions Corporation news, insider Ramakrishna Prasa Chintamaneni sold 5,051 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $68.00, for a total value of $343,468.00. Following the completion of the transaction, the insider now directly owns 20,047 shares of the company’s stock, valued at $1,363,196. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $73.00, for a total value of $1,825,000.00. Following the completion of the transaction, the insider now directly owns 286,923 shares of the company’s stock, valued at $20,945,379. The disclosure for this sale can be found here. In the last quarter, insiders sold 280,807 shares of company stock worth $20,029,239. 1.08% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the business. Intl Fcstone Inc. acquired a new position in Cognizant Technology Solutions Corporation in the second quarter valued at approximately $250,000. Gs Investments Inc. acquired a new position in shares of Cognizant Technology Solutions Corporation during the 2nd quarter worth approximately $2,337,000. Lord Abbett & CO. LLC acquired a new position in shares of Cognizant Technology Solutions Corporation during the 2nd quarter worth approximately $2,390,000. WFG Advisors LP raised its stake in shares of Cognizant Technology Solutions Corporation by 46.4% during the 2nd quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after buying an additional 621 shares during the period. Finally, Toronto Dominion Bank raised its stake in shares of Cognizant Technology Solutions Corporation by 21.0% during the 2nd quarter. Toronto Dominion Bank now owns 204,966 shares of the information technology service provider’s stock worth $13,608,000 after buying an additional 35,518 shares during the period. 87.59% of the stock is owned by institutional investors.

Cognizant Technology Solutions Corporation Company Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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

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