Equities Analysts Issue Forecasts for Cognizant Technology Solutions Corporation’s Q1 2018 Earnings (CTSH)

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) – Stock analysts at Jefferies Group issued their Q1 2018 earnings per share estimates for shares of Cognizant Technology Solutions Corporation in a note issued to investors on Wednesday. Jefferies Group analyst R. El-Assal expects that the information technology service provider will post earnings per share of $0.92 for the quarter. Jefferies Group currently has a “Buy” rating and a $81.00 price target on the stock. Jefferies Group also issued estimates for Cognizant Technology Solutions Corporation’s Q2 2018 earnings at $0.94 EPS, Q3 2018 earnings at $0.99 EPS and Q4 2018 earnings at $1.05 EPS.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions Corporation had a net margin of 13.42% and a return on equity of 18.94%. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year.

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Several other brokerages also recently weighed in on CTSH. Cantor Fitzgerald reiterated a “buy” rating and set a $78.00 target price on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, November 1st. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $80.00 target price on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, November 1st. Needham & Company LLC raised shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating and increased their price target for the stock from $78.00 to $90.00 in a report on Wednesday, November 1st. William Blair raised shares of Cognizant Technology Solutions Corporation from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 1st. Finally, Credit Suisse Group reissued an “outperform” rating and set a $89.00 price target (up from $80.00) on shares of Cognizant Technology Solutions Corporation in a report on Thursday, November 2nd. Five investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $81.19.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at $72.91 on Friday. Cognizant Technology Solutions Corporation has a 12 month low of $51.35 and a 12 month high of $76.51. The firm has a market cap of $42,991.02, a PE ratio of 21.76, a PEG ratio of 1.64 and a beta of 1.10. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 20th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, November 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.82%. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is 18.52%.

In other news, COO Srinivasan Veeraraghavachary sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $73.00, for a total transaction of $182,500.00. Following the completion of the transaction, the chief operating officer now directly owns 24,459 shares of the company’s stock, valued at approximately $1,785,507. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Rajeev Mehta sold 34,437 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $72.54, for a total transaction of $2,498,059.98. Following the transaction, the president now directly owns 170,063 shares of the company’s stock, valued at $12,336,370.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 244,918 shares of company stock valued at $17,643,259. Corporate insiders own 1.08% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in CTSH. Acrospire Investment Management LLC boosted its position in Cognizant Technology Solutions Corporation by 92.6% during the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock worth $110,000 after acquiring an additional 800 shares during the last quarter. Bank of Nova Scotia Trust Co. acquired a new stake in Cognizant Technology Solutions Corporation during the third quarter worth approximately $121,000. WFG Advisors LP boosted its position in Cognizant Technology Solutions Corporation by 46.4% during the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after acquiring an additional 621 shares during the last quarter. Krilogy Financial LLC acquired a new stake in Cognizant Technology Solutions Corporation during the second quarter worth approximately $137,000. Finally, BB&T Investment Services Inc. boosted its position in Cognizant Technology Solutions Corporation by 86.8% during the third quarter. BB&T Investment Services Inc. now owns 2,176 shares of the information technology service provider’s stock worth $141,000 after acquiring an additional 1,011 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

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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