Cognizant Technology Solutions (NASDAQ:CTSH) issued its earnings results on Wednesday. The information technology service provider reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.15, Briefing.com reports. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the firm earned $0.87 earnings per share. The business’s quarterly revenue was up 10.6% on a year-over-year basis. Cognizant Technology Solutions updated its Q1 guidance to at least $1.04 EPS and its FY18 guidance to at least $4.53 EPS.
Shares of Cognizant Technology Solutions (NASDAQ CTSH) opened at $77.12 on Thursday. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions has a 1 year low of $56.29 and a 1 year high of $79.28. The company has a market cap of $43,574.77, a P/E ratio of 23.76, a P/E/G ratio of 1.49 and a beta of 1.11.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Thursday, February 22nd will be given a dividend of $0.20 per share. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 1.04%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 18.52%.
Hedge funds have recently made changes to their positions in the business. Shine Investment Advisory Services Inc. increased its stake in Cognizant Technology Solutions by 108.8% during the 4th quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock valued at $107,000 after purchasing an additional 788 shares in the last quarter. Bank of Nova Scotia Trust Co. bought a new stake in Cognizant Technology Solutions during the 3rd quarter valued at $121,000. Cerebellum GP LLC bought a new stake in Cognizant Technology Solutions during the 4th quarter valued at $128,000. WFG Advisors LP increased its stake in Cognizant Technology Solutions by 46.4% during the 2nd quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock valued at $130,000 after purchasing an additional 621 shares in the last quarter. Finally, Krilogy Financial LLC bought a new stake in Cognizant Technology Solutions during the 2nd quarter valued at $137,000. Institutional investors and hedge funds own 86.95% of the company’s stock.
Several brokerages have commented on CTSH. Barclays reaffirmed a “buy” rating and issued a $88.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday. BMO Capital Markets increased their price objective on shares of Cognizant Technology Solutions to $86.00 and gave the stock an “outperform” rating in a research report on Thursday. Cowen reissued a “buy” rating and set a $90.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday. Needham & Company LLC increased their target price on shares of Cognizant Technology Solutions from $90.00 to $100.00 and gave the stock a “strong-buy” rating in a report on Thursday. Finally, SunTrust Banks restated a “buy” rating and set a $90.00 target price on shares of Cognizant Technology Solutions in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $83.60.
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Cognizant Technology Solutions 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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