$4.12 Billion in Sales Expected for Cognizant Technology Solutions Corp (CTSH) This Quarter

Wall Street analysts predict that Cognizant Technology Solutions Corp (NASDAQ:CTSH) will announce $4.12 billion in sales for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for Cognizant Technology Solutions’ earnings, with the lowest sales estimate coming in at $4.11 billion and the highest estimate coming in at $4.12 billion. Cognizant Technology Solutions reported sales of $3.83 billion during the same quarter last year, which would suggest a positive year over year growth rate of 7.6%. The company is expected to announce its next earnings results on Wednesday, February 6th.

According to Zacks, analysts expect that Cognizant Technology Solutions will report full-year sales of $16.11 billion for the current financial year, with estimates ranging from $16.10 billion to $16.12 billion. For the next financial year, analysts anticipate that the firm will post sales of $17.40 billion, with estimates ranging from $17.07 billion to $17.60 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Cognizant Technology Solutions.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.06. Cognizant Technology Solutions had a net margin of 9.07% and a return on equity of 22.54%. The firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the prior year, the firm earned $0.98 EPS. The company’s revenue was up 8.3% compared to the same quarter last year.

CTSH has been the subject of several analyst reports. Goldman Sachs Group raised shares of Cognizant Technology Solutions from a “neutral” rating to a “buy” rating in a report on Monday, November 26th. Loop Capital set a $94.00 price objective on shares of Cognizant Technology Solutions and gave the stock a “buy” rating in a report on Monday, November 19th. Bank of America downgraded shares of Cognizant Technology Solutions from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $91.00 to $81.00 in a report on Tuesday, September 4th. KeyCorp cut their price objective on shares of Cognizant Technology Solutions from $89.00 to $79.00 and set an “overweight” rating for the company in a report on Wednesday, October 31st. Finally, Citigroup cut their price objective on shares of Cognizant Technology Solutions from $90.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Cognizant Technology Solutions presently has a consensus rating of “Buy” and an average price target of $82.34.

Cognizant Technology Solutions stock opened at $68.00 on Monday. Cognizant Technology Solutions has a twelve month low of $65.14 and a twelve month high of $85.10. The company has a market cap of $39.37 billion, a PE ratio of 19.26, a P/E/G ratio of 1.47 and a beta of 0.95. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.06.

The company also recently announced a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Tuesday, November 20th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Monday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is presently 22.66%.

In other Cognizant Technology Solutions news, EVP James Patrick Lennox sold 744 shares of the stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $76.68, for a total value of $57,049.92. Following the sale, the executive vice president now directly owns 5,920 shares in the company, valued at approximately $453,945.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Matthew W. Friedrich sold 2,893 shares of the stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $70.48, for a total transaction of $203,898.64. Following the completion of the sale, the general counsel now owns 600 shares in the company, valued at $42,288. The disclosure for this sale can be found here. Insiders sold a total of 15,506 shares of company stock worth $1,101,632 over the last quarter. Corporate insiders own 0.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Green Square Capital LLC raised its position in shares of Cognizant Technology Solutions by 5.3% during the 2nd quarter. Green Square Capital LLC now owns 13,430 shares of the information technology service provider’s stock valued at $1,061,000 after buying an additional 674 shares in the last quarter. Whittier Trust Co. raised its position in shares of Cognizant Technology Solutions by 20.8% during the 3rd quarter. Whittier Trust Co. now owns 4,066 shares of the information technology service provider’s stock valued at $313,000 after buying an additional 700 shares in the last quarter. Twin Capital Management Inc. raised its position in shares of Cognizant Technology Solutions by 0.7% during the 2nd quarter. Twin Capital Management Inc. now owns 104,050 shares of the information technology service provider’s stock valued at $8,219,000 after buying an additional 710 shares in the last quarter. IFG Advisory LLC raised its position in shares of Cognizant Technology Solutions by 4.7% during the 3rd quarter. IFG Advisory LLC now owns 16,235 shares of the information technology service provider’s stock valued at $1,252,000 after buying an additional 730 shares in the last quarter. Finally, KCS Wealth Advisory raised its position in shares of Cognizant Technology Solutions by 7.7% during the 3rd quarter. KCS Wealth Advisory now owns 10,440 shares of the information technology service provider’s stock valued at $805,000 after buying an additional 750 shares in the last quarter. Institutional investors and hedge funds own 86.37% of the company’s stock.

Cognizant Technology Solutions Company Profile

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 business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

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

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