Wall Street brokerages predict that Cognizant Technology Solutions Corporation (NASDAQ:CTSH) will post $3.76 billion in sales for the current quarter, Zacks reports. Nine analysts have issued estimates for Cognizant Technology Solutions Corporation’s earnings, with estimates ranging from $3.74 billion to $3.77 billion. Cognizant Technology Solutions Corporation reported sales of $3.45 billion in the same quarter last year, which would suggest a positive year over year growth rate of 9%. The company is expected to report its next earnings report on Monday, November 6th.

On average, analysts expect that Cognizant Technology Solutions Corporation will report full-year sales of $3.76 billion for the current financial year, with estimates ranging from $14.76 billion to $14.81 billion. For the next financial year, analysts anticipate that the business will post sales of $16.14 billion per share, with estimates ranging from $15.99 billion to $16.32 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Cognizant Technology Solutions Corporation.

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

CTSH has been the topic of a number of recent research reports. Needham & Company LLC raised their target price on Cognizant Technology Solutions Corporation from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Vetr cut Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating and set a $67.50 target price on the stock. in a research note on Monday, May 1st. Deutsche Bank AG reiterated a “buy” rating and issued a $79.00 target price on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, May 31st. Cantor Fitzgerald reiterated a “buy” rating and issued a $67.00 target price on shares of Cognizant Technology Solutions Corporation in a research note on Monday, May 15th. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $80.00 target price (up from $66.00) on shares of Cognizant Technology Solutions Corporation in a research note on Thursday, June 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $70.02.

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Cognizant Technology Solutions Corporation (CTSH) opened at 71.01 on Thursday. The firm’s 50-day moving average is $68.52 and its 200-day moving average is $62.51. Cognizant Technology Solutions Corporation has a 12 month low of $45.44 and a 12 month high of $71.57. The stock has a market cap of $41.82 billion, a P/E ratio of 25.83 and a beta of 1.17.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.84%. The ex-dividend date is Friday, August 18th. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is presently 19.17%.

In other Cognizant Technology Solutions Corporation news, EVP Allen Shaheen sold 4,186 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $67.56, for a total value of $282,806.16. Following the sale, the executive vice president now directly owns 442 shares in the company, valued at $29,861.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Srinivasan Veeraraghavachary sold 3,069 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $65.00, for a total transaction of $199,485.00. Following the completion of the sale, the chief operating officer now owns 24,737 shares in the company, valued at $1,607,905. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,528 shares of company stock worth $5,306,449. 1.08% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the company. IFM Investors Pty Ltd bought a new position in shares of Cognizant Technology Solutions Corporation during the second quarter worth $1,096,000. Provident Investment Management Inc. boosted its position in shares of Cognizant Technology Solutions Corporation by 0.3% in the second quarter. Provident Investment Management Inc. now owns 445,805 shares of the information technology service provider’s stock worth $29,601,000 after buying an additional 1,417 shares in the last quarter. Fiduciary Trust Co. boosted its position in shares of Cognizant Technology Solutions Corporation by 5.0% in the second quarter. Fiduciary Trust Co. now owns 52,779 shares of the information technology service provider’s stock worth $3,504,000 after buying an additional 2,532 shares in the last quarter. Manchester Capital Management LLC boosted its position in shares of Cognizant Technology Solutions Corporation by 15.7% in the second quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock worth $181,000 after buying an additional 370 shares in the last quarter. Finally, Veritas Investment Management LLP boosted its position in shares of Cognizant Technology Solutions Corporation by 9.4% in the second quarter. Veritas Investment Management LLP now owns 713,392 shares of the information technology service provider’s stock worth $47,373,000 after buying an additional 61,105 shares in the last quarter. 89.21% of the stock is currently owned by hedge funds and other 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.

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

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