Cognizant Technology Solutions Corporation (NASDAQ:CTSH) – Investment analysts at Wedbush boosted their Q3 2017 EPS estimates for Cognizant Technology Solutions Corporation in a report issued on Monday. Wedbush analyst M. Katri now anticipates that the information technology service provider will earn $0.85 per share for the quarter, up from their previous estimate of $0.84. Wedbush currently has a “Outperform” rating on the stock. Wedbush also issued estimates for Cognizant Technology Solutions Corporation’s Q4 2017 earnings at $0.89 EPS and Q1 2018 earnings at $0.90 EPS.

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

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A number of other equities analysts have also recently weighed in on CTSH. Deutsche Bank AG reissued a “buy” rating and issued a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, May 31st. Pacific Crest reissued an “overweight” rating and issued a $75.00 price target (up previously from $73.00) on shares of Cognizant Technology Solutions Corporation in a research note on Thursday, June 1st. Societe Generale cut Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and lifted their price target for the stock from $68.00 to $74.00 in a research note on Monday, June 5th. HSBC Holdings plc cut Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and lifted their price target for the stock from $65.00 to $68.00 in a research note on Thursday, June 8th. Finally, BidaskClub cut Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Cognizant Technology Solutions Corporation has an average rating of “Buy” and a consensus target price of $72.51.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 71.86 on Wednesday. The firm has a 50-day moving average of $70.75 and a 200-day moving average of $65.41. Cognizant Technology Solutions Corporation has a 12-month low of $45.44 and a 12-month high of $73.00. The stock has a market capitalization of $42.44 billion, a price-to-earnings ratio of 23.05 and a beta of 1.14.

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Cognizant Technology Solutions Corporation by 3,470.1% in the 1st quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock valued at $2,425,316,000 after acquiring an additional 39,606,526 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Cognizant Technology Solutions Corporation by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 40,545,109 shares of the information technology service provider’s stock valued at $2,413,246,000 after acquiring an additional 1,379,271 shares in the last quarter. FMR LLC raised its stake in shares of Cognizant Technology Solutions Corporation by 81.6% in the 2nd quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock valued at $1,664,366,000 after acquiring an additional 11,262,360 shares in the last quarter. State Street Corp raised its stake in shares of Cognizant Technology Solutions Corporation by 1.8% in the 1st quarter. State Street Corp now owns 24,267,262 shares of the information technology service provider’s stock valued at $1,444,391,000 after acquiring an additional 435,142 shares in the last quarter. Finally, Edgewood Management LLC raised its stake in shares of Cognizant Technology Solutions Corporation by 3.9% in the 1st quarter. Edgewood Management LLC now owns 14,706,635 shares of the information technology service provider’s stock valued at $875,339,000 after acquiring an additional 557,035 shares in the last quarter. 87.59% of the stock is currently owned by institutional investors and hedge funds.

In related news, COO Srinivasan Veeraraghavachary sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $71.00, for a total value of $177,500.00. Following the transaction, the chief operating officer now directly owns 27,165 shares of the company’s stock, valued at approximately $1,928,715. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Rajeev Mehta sold 34,437 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $72.54, for a total value of $2,498,059.98. Following the completion of the transaction, the president now directly owns 170,063 shares in the company, valued at $12,336,370.02. The disclosure for this sale can be found here. Insiders sold a total of 275,756 shares of company stock worth $19,685,771 over the last three months. 1.08% of the stock is owned by company insiders.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Friday, August 18th. Cognizant Technology Solutions Corporation’s payout ratio is 19.17%.

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.

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

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