Cognizant Technology Solutions Corp. (NASDAQ:CTSH) – Stock analysts at Oppenheimer Holdings dropped their Q4 2017 earnings estimates for shares of Cognizant Technology Solutions Corp. in a research report issued on Monday. Oppenheimer Holdings analyst G. Greene now anticipates that the firm will earn $0.87 per share for the quarter, down from their previous forecast of $0.88.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last released its quarterly earnings results on Monday, November 7th. The information technology service provider reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.02. Cognizant Technology Solutions Corp. had a net margin of 11.78% and a return on equity of 19.42%. The company earned $3.45 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same period in the prior year, the company earned $0.76 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year.

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

Several other equities research analysts have also issued reports on CTSH. HSBC started coverage on shares of Cognizant Technology Solutions Corp. in a research note on Friday, September 30th. They issued a “buy” rating and a $62.00 price target on the stock. Cantor Fitzgerald reissued a “buy” rating and issued a $68.00 price objective on shares of Cognizant Technology Solutions Corp. in a research report on Monday, October 3rd. Vetr raised shares of Cognizant Technology Solutions Corp. from a “buy” rating to a “strong-buy” rating and set a $65.33 price objective for the company in a research report on Monday, September 12th. Societe Generale initiated coverage on shares of Cognizant Technology Solutions Corp. in a research report on Monday, September 26th. They issued a “buy” rating and a $68.00 price objective for the company. Finally, Nomura downgraded shares of Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $65.00 to $62.00 in a research report on Monday, August 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $64.93.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded up 0.26% during midday trading on Thursday, reaching $53.95. 10,084,371 shares of the company’s stock were exchanged. The company has a market cap of $32.74 billion, a price-to-earnings ratio of 21.75 and a beta of 1.34. Cognizant Technology Solutions Corp. has a 52 week low of $45.44 and a 52 week high of $66.28. The firm has a 50-day moving average price of $51.64 and a 200 day moving average price of $56.86.

In related news, VP Malcolm Frank sold 1,248 shares of the stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $58.50, for a total transaction of $73,008.00. Following the transaction, the vice president now directly owns 3,945 shares of the company’s stock, valued at $230,782.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Karen Mcloughlin sold 10,000 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $51.27, for a total transaction of $512,700.00. Following the transaction, the chief financial officer now directly owns 52,614 shares in the company, valued at $2,697,519.78. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CTSH. Washington Trust Bank raised its position in shares of Cognizant Technology Solutions Corp. by 6.8% in the second quarter. Washington Trust Bank now owns 1,789 shares of the information technology service provider’s stock valued at $102,000 after buying an additional 114 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Cognizant Technology Solutions Corp. during the second quarter valued at about $123,000. Exane Derivatives raised its position in shares of Cognizant Technology Solutions Corp. by 22.3% in the second quarter. Exane Derivatives now owns 2,278 shares of the information technology service provider’s stock valued at $130,000 after buying an additional 416 shares in the last quarter. First Manhattan Co. raised its position in shares of Cognizant Technology Solutions Corp. by 16.8% in the second quarter. First Manhattan Co. now owns 2,523 shares of the information technology service provider’s stock valued at $144,000 after buying an additional 363 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of Cognizant Technology Solutions Corp. by 29.4% in the second quarter. Assetmark Inc. now owns 2,699 shares of the information technology service provider’s stock valued at $154,000 after buying an additional 613 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Corp. Company Profile

Cognizant Technology Solutions Corporation is a provider of information technology (IT), consulting and business process services. The Company operates through four segments: Financial Services, which includes customers providing banking/transaction processing, capital markets and insurance services; Healthcare, which includes healthcare providers and payers, as well as life sciences customers, including pharmaceutical, biotech and medical device companies; Manufacturing, Retail and Logistics, which includes manufacturers, retailers, travel and other hospitality customers, as well as customers providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology.

5 Day Chart for NASDAQ:CTSH

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