Cognizant Technology Solutions Co. (NASDAQ:CTSH) Expected to Announce Quarterly Sales of $4.45 Billion

Analysts expect that Cognizant Technology Solutions Co. (NASDAQ:CTSH) will report $4.45 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Cognizant Technology Solutions’ earnings, with the highest sales estimate coming in at $4.48 billion and the lowest estimate coming in at $4.43 billion. Cognizant Technology Solutions reported sales of $4.00 billion in the same quarter last year, which indicates a positive year over year growth rate of 11.3%. The company is scheduled to announce its next earnings report on Wednesday, August 4th.

On average, analysts expect that Cognizant Technology Solutions will report full-year sales of $17.97 billion for the current financial year, with estimates ranging from $17.78 billion to $18.10 billion. For the next year, analysts expect that the firm will post sales of $18.95 billion, with estimates ranging from $18.60 billion to $19.20 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Cognizant Technology Solutions.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Tuesday, May 4th. The information technology service provider reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.03. Cognizant Technology Solutions had a net margin of 9.09% and a return on equity of 16.77%. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same period last year, the company posted $0.96 earnings per share. Cognizant Technology Solutions’s revenue was up 4.1% compared to the same quarter last year.

Several equities analysts have issued reports on CTSH shares. Susquehanna Bancshares lifted their price target on shares of Cognizant Technology Solutions from $89.00 to $99.00 and gave the stock a “positive” rating in a report on Thursday, May 6th. Morgan Stanley cut their price target on shares of Cognizant Technology Solutions from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Thursday, May 6th. Zacks Investment Research raised shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating and set a $79.00 price target on the stock in a report on Monday, May 10th. Finally, Susquehanna lifted their price target on shares of Cognizant Technology Solutions from $89.00 to $99.00 and gave the stock a “positive” rating in a report on Thursday, May 6th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $79.82.

NASDAQ CTSH traded down $0.08 on Friday, hitting $71.17. The stock had a trading volume of 3,182,613 shares, compared to its average volume of 3,475,058. The business has a fifty day moving average of $75.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. Cognizant Technology Solutions has a 52-week low of $52.50 and a 52-week high of $82.73. The company has a market capitalization of $37.54 billion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 28th. Investors of record on Thursday, May 20th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, May 19th. This represents a $0.96 dividend on an annualized basis and a yield of 1.35%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.07%.

In other Cognizant Technology Solutions news, insider Malcolm Frank sold 1,031 shares of the company’s stock in a transaction dated Thursday, June 3rd. The shares were sold at an average price of $70.84, for a total value of $73,036.04. Following the completion of the transaction, the insider now owns 45,178 shares in the company, valued at $3,200,409.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael Patsalos-Fox sold 5,858 shares of the company’s stock in a transaction dated Thursday, May 27th. The stock was sold at an average price of $71.20, for a total transaction of $417,089.60. Following the completion of the transaction, the director now owns 57,830 shares of the company’s stock, valued at approximately $4,117,496. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,560 shares of company stock valued at $541,378. Insiders own 0.31% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Texas Capital Bank Wealth Management Services Inc. increased its stake in shares of Cognizant Technology Solutions by 2.4% during the fourth quarter. Texas Capital Bank Wealth Management Services Inc. now owns 5,620 shares of the information technology service provider’s stock worth $461,000 after purchasing an additional 130 shares in the last quarter. Signaturefd LLC increased its stake in shares of Cognizant Technology Solutions by 3.4% during the first quarter. Signaturefd LLC now owns 4,067 shares of the information technology service provider’s stock worth $318,000 after purchasing an additional 132 shares in the last quarter. Ellevest Inc. increased its stake in shares of Cognizant Technology Solutions by 38.9% during the fourth quarter. Ellevest Inc. now owns 525 shares of the information technology service provider’s stock worth $43,000 after purchasing an additional 147 shares in the last quarter. SP Asset Management increased its stake in shares of Cognizant Technology Solutions by 0.3% during the first quarter. SP Asset Management now owns 46,986 shares of the information technology service provider’s stock worth $3,862,000 after purchasing an additional 147 shares in the last quarter. Finally, Rational Advisors LLC increased its stake in shares of Cognizant Technology Solutions by 1.2% during the first quarter. Rational Advisors LLC now owns 12,742 shares of the information technology service provider’s stock worth $995,000 after purchasing an additional 151 shares in the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.

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

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