Cognizant Technology Solutions (CTSH) Announces Quarterly Earnings Results, Beats Estimates By $0.15 EPS

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%.

In other news, VP Malcolm Frank sold 9,462 shares of Cognizant Technology Solutions stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $70.61, for a total value of $668,111.82. Following the completion of the sale, the vice president now owns 15,533 shares in the company, valued at approximately $1,096,785.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chandrasekaran Ramakrishnan sold 25,000 shares of Cognizant Technology Solutions stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $78.00, for a total transaction of $1,950,000.00. Following the completion of the sale, the insider now owns 196,300 shares of the company’s stock, valued at approximately $15,311,400. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 961,064 shares of company stock worth $70,504,403. 1.08% of the stock is owned by corporate insiders.

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.

Earnings History for Cognizant Technology Solutions (NASDAQ:CTSH)

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