Analysts expect Cognizant Technology Solutions Co. (NASDAQ: CTSH – Get Rating) to report sales of $ 4.92 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued Cognizant Technology Solutions revenue estimates, with the lowest sales estimate at $ 4.91 billion and the highest at $ 4.95 billion. Cognizant Technology Solutions reported sales of $ 4.59 billion in the same quarter last year, a positive growth rate of 7.2% over the previous year. The business is due to announce its next earnings report on Monday, January 1st.
On average, analysts expect Cognizant Technology Solutions to report annual sales of $ 19.99 billion for the current fiscal year, with estimates ranging from $ 19.86 billion to $ 20.10 billion. For the next fiscal year, analysts expect the business to report sales of $ 21.67 billion, with estimates ranging from $ 21.18 billion to $ 22.00 billion. Zacks Investment Research sales averages are analyst-based averages that provide coverage for Cognizant Technology Solutions.
Cognizant Technology Solutions (NASDAQ: CTSH – Get Rating) last released its earnings results on Wednesday, May 4th. The IT provider reported $ 1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 1.04 and $ 0.04. The company had revenue of $ 4.83 billion for the quarter, compared to analysts’ estimates of $ 4.83 billion. Cognizant Technology Solutions has a net margin of 11.59% and a return on equity of 19.07%. The company’s quarterly revenues increased by 9.7% on an annual basis. In the same period last year, the business earned $ 0.97 EPS.
A number of stock research analysts have recently weighed the stock. Cowen lowered his price target for shares of Cognizant Technology Solutions from $ 98.00 to $ 95.00 in a report on Monday, May 9. Cowen lowered his price target for shares of Cognizant Technology Solutions from $ 98.00 to $ 95.00 in a report on Monday, May 9. Citigroup lowered its target for Cognizant Technology Solutions stock prices from $ 95.00 to $ 88.00 in a report on Thursday, May 5th. BMO Capital Markets raised its share price target for Cognizant Technology Solutions from $ 92.00 to $ 100.00 in a report on Thursday, February 3rd. Finally, Zacks Investment Research raised shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating and set a $ 79.00 share price in a report on Monday (May 9th). One analyst rated the shares with a rating for sale, five gave a rating for retention and ten gave a rating for the purchase of the company’s shares. Based on MarketBeat data, the shares currently have an average Buy rating and an average target price of $ 91.69.
Shares of Cognizant Technology Solutions opened at $ 74.73 on Monday. Cognizant Technology Solutions has a 52-week low of $ 66.19 and a 52-week high of $ 93.47. The company’s 50-day moving average is $ 82.21, and its two-hundred-day moving average is $ 84.35. The company has a market capitalization of $ 38.95 billion, a PE ratio of $ 17.92, a price-earnings-growth ratio of 1.38 and a beta of 1.10. The company has a fast ratio of 2.22, a current ratio of 2.22 and a debt to equity ratio of 0.05.
The company also recently unveiled a quarterly dividend that will be paid on Tuesday (May 31st). The record shareholders on Friday, May 20, will receive a dividend of $ 0.27 per share. This represents a $ 1.08 annual dividend and a yield of 1.45%. The date of the former dividend is Thursday, May 19. Cognizant Technology Solutions’ payout ratio is currently 25.90%.
In other news, CEO Leo S. Jr. Makey sold 4,778 shares of Cognizant Technology Solutions in a deal on Monday, March 7th. The shares were sold at an average price of $ 88.52, for a total value of $ 422,948.56. The sale is disclosed in SEC documentation, which is available at this hyperlink. Also, EVP Andrew J. Stafford sold 5,867 shares of Cognizant Technology Solutions in a deal on Tuesday, May 10th. The shares were sold at an average price of $ 77.24, for a total transaction of $ 453,167.08. Following the completion of the sale, the executive vice president now directly owns 5,872 shares of the company worth approximately $ 453,553.28. The revelation for this sale can be found here. Insiders have sold a total of 16,332 shares of the company’s stock worth $ 1,299,228 in the past three months. 0.34% of the shares are currently owned by insiders.
Several major investors have recently changed their stakes in the company. Albion Financial Group UT increased its stake in Cognizant Technology Solutions by 1.0% in the fourth quarter. Albion Financial Group UT already owns 11,994 shares of the IT provider worth $ 1,064,000 after acquiring an additional 117 shares in the last quarter. Covington Capital Management increased its stake in Cognizant Technology Solutions by 6.9% in the fourth quarter. Covington Capital Management now owns 1,804 shares of the $ 160,000 IT provider after buying an additional 117 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in Cognizant Technology Solutions by 4.3% in the fourth quarter. Oppenheimer & Co. Inc. already owns 3,007 shares of the IT provider’s $ 266,000 share after buying an additional 124 shares in the last quarter. SP Asset Management increased its stake in Cognizant Technology Solutions by 0.3% in the fourth quarter. SP Asset Management now owns 47,145 shares of the IT provider’s stock worth $ 4,074,000 after buying an additional 135 shares in the last quarter. Finally, Concord Wealth Partners increased its stake in Cognizant Technology Solutions by 8.2% in the first quarter. Concord Wealth Partners already owns 1,826 shares of the IT provider’s $ 164,000 share after buying an additional 138 shares in the last quarter. 90.73% of the shares are currently owned by institutional investors and hedge funds.
About Cognizant Technology Solutions (Get an estimate)
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology and outsourcing services in North America, Europe and internationally. Works in four segments: Financial services; Healthcare; Products and resources; and communications, media and technology.
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