Zacks: Analysts Expect Cognizant Technology Solutions Corporation (CTSH) to Post $0.97 Earnings Per Share

Wall Street analysts expect Cognizant Technology Solutions Corporation (NASDAQ:CTSH) to report earnings of $0.97 per share for the current quarter, Zacks reports. Ten analysts have issued estimates for Cognizant Technology Solutions Corporation’s earnings, with the highest EPS estimate coming in at $1.03 and the lowest estimate coming in at $0.95. Cognizant Technology Solutions Corporation posted earnings of $0.87 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 11.5%. The firm is scheduled to report its next quarterly earnings report on Wednesday, February 14th.

According to Zacks, analysts expect that Cognizant Technology Solutions Corporation will report full-year earnings of $3.71 per share for the current fiscal year, with EPS estimates ranging from $3.65 to $3.77. For the next fiscal year, analysts anticipate that the business will post earnings of $4.36 per share, with EPS estimates ranging from $4.15 to $4.46. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Cognizant Technology Solutions Corporation.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions Corporation had a net margin of 13.42% and a return on equity of 18.94%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the company earned $0.86 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year.

CTSH has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Tuesday, October 10th. Robert W. Baird lifted their price objective on shares of Cognizant Technology Solutions Corporation from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, October 19th. Bank of America Corporation reiterated a “buy” rating and issued a $86.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Tuesday, September 12th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $85.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Friday, November 3rd. Finally, KeyCorp reiterated a “buy” rating and issued a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Friday, September 8th. Five investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. Cognizant Technology Solutions Corporation currently has a consensus rating of “Buy” and a consensus target price of $81.19.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up $0.32 during midday trading on Friday, hitting $74.26. 2,591,800 shares of the stock were exchanged, compared to its average volume of 4,007,893. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions Corporation has a 12 month low of $51.35 and a 12 month high of $76.51. The firm has a market capitalization of $43,787.04, a P/E ratio of 22.17, a PEG ratio of 1.67 and a beta of 1.10.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 20th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.81%. Cognizant Technology Solutions Corporation’s payout ratio is presently 18.52%.

In related news, Director John E. Klein sold 11,560 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $71.86, for a total transaction of $830,701.60. Following the completion of the sale, the director now owns 482,880 shares of the company’s stock, valued at $34,699,756.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Venkat Krishnaswamy sold 4,000 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $75.00, for a total transaction of $300,000.00. Following the sale, the insider now directly owns 3,919 shares of the company’s stock, valued at approximately $293,925. The disclosure for this sale can be found here. In the last three months, insiders sold 261,729 shares of company stock valued at $18,845,798. 1.08% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC lifted its position in Cognizant Technology Solutions Corporation by 92.6% during the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock worth $110,000 after purchasing an additional 800 shares during the period. WFG Advisors LP lifted its position in Cognizant Technology Solutions Corporation by 46.4% during the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after purchasing an additional 621 shares during the period. Krilogy Financial LLC bought a new stake in Cognizant Technology Solutions Corporation during the second quarter worth about $137,000. BB&T Investment Services Inc. lifted its position in Cognizant Technology Solutions Corporation by 86.8% during the third quarter. BB&T Investment Services Inc. now owns 2,176 shares of the information technology service provider’s stock worth $141,000 after purchasing an additional 1,011 shares during the period. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in Cognizant Technology Solutions Corporation during the third quarter worth about $167,000. 86.99% of the stock is owned by institutional investors and hedge funds.

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About Cognizant Technology Solutions Corporation

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.

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

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