Cognizant Technology Solutions Corp (NASDAQ:CTSH) – Equities researchers at KeyCorp upped their FY2019 earnings estimates for Cognizant Technology Solutions in a report issued on Tuesday, March 19th. KeyCorp analyst A. Ramnani now forecasts that the information technology service provider will post earnings per share of $4.48 for the year, up from their prior forecast of $4.47. KeyCorp currently has a “Overweight” rating and a $84.00 price target on the stock. KeyCorp also issued estimates for Cognizant Technology Solutions’ FY2020 earnings at $4.94 EPS.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, February 6th. The information technology service provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.07. The company had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.11 billion. Cognizant Technology Solutions had a net margin of 13.03% and a return on equity of 22.15%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS.
Cognizant Technology Solutions stock opened at $72.20 on Thursday. The firm has a market cap of $41.24 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 1.60 and a beta of 0.97. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions has a 1-year low of $59.47 and a 1-year high of $83.35.
A number of institutional investors and hedge funds have recently made changes to their positions in CTSH. Acima Private Wealth LLC bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $29,000. Sontag Advisory LLC acquired a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $30,000. Citizens Financial Group Inc RI boosted its holdings in shares of Cognizant Technology Solutions by 176.5% in the fourth quarter. Citizens Financial Group Inc RI now owns 611 shares of the information technology service provider’s stock valued at $39,000 after buying an additional 390 shares during the period. Kistler Tiffany Companies LLC boosted its holdings in shares of Cognizant Technology Solutions by 133.5% in the fourth quarter. Kistler Tiffany Companies LLC now owns 642 shares of the information technology service provider’s stock valued at $41,000 after buying an additional 367 shares during the period. Finally, Pinnacle Bank acquired a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.
In related news, EVP James Patrick Lennox sold 2,878 shares of Cognizant Technology Solutions stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $63.35, for a total value of $182,321.30. Following the transaction, the executive vice president now owns 3,744 shares in the company, valued at approximately $237,182.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Malcolm Frank sold 7,251 shares of Cognizant Technology Solutions stock in a transaction on Thursday, January 3rd. The stock was sold at an average price of $61.88, for a total transaction of $448,691.88. Following the completion of the transaction, the vice president now owns 26,289 shares in the company, valued at approximately $1,626,763.32. The disclosure for this sale can be found here. Insiders sold a total of 57,533 shares of company stock worth $4,032,493 in the last quarter. Insiders own 0.60% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Investors of record on Thursday, February 21st were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, February 20th. This represents a $0.80 annualized dividend and a yield of 1.11%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 19.90%.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.
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