Cognizant Technology Solutions Corp (NASDAQ:CTSH) – Research analysts at SunTrust Banks lowered their Q1 2019 earnings estimates for Cognizant Technology Solutions in a report released on Thursday, December 6th. SunTrust Banks analyst F. Atkins now forecasts that the information technology service provider will earn $1.00 per share for the quarter, down from their prior estimate of $1.09. SunTrust Banks also issued estimates for Cognizant Technology Solutions’ Q2 2019 earnings at $1.07 EPS, Q3 2019 earnings at $1.08 EPS, Q4 2019 earnings at $1.10 EPS, FY2019 earnings at $4.24 EPS, Q1 2020 earnings at $1.10 EPS, Q2 2020 earnings at $1.17 EPS, Q3 2020 earnings at $1.21 EPS and FY2020 earnings at $4.68 EPS.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.06. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Cognizant Technology Solutions had a net margin of 9.07% and a return on equity of 22.54%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 earnings per share.

CTSH has been the subject of a number of other research reports. HSBC upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. Cowen downgraded shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and set a $75.00 price target for the company. in a research note on Monday, November 26th. Bank of America decreased their price target on shares of Cognizant Technology Solutions from $81.00 to $68.00 and set an “underperform” rating for the company in a research note on Friday, November 2nd. BMO Capital Markets downgraded shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and set a $74.00 price target for the company. in a research note on Wednesday, October 31st. Finally, KeyCorp decreased their price target on shares of Cognizant Technology Solutions from $89.00 to $79.00 and set an “overweight” rating for the company in a research note on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $82.34.

Shares of CTSH stock opened at $69.40 on Friday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $40.54 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 1.51 and a beta of 0.95. Cognizant Technology Solutions has a fifty-two week low of $65.14 and a fifty-two week high of $85.10.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Tuesday, November 20th were paid a $0.20 dividend. The ex-dividend date was Monday, November 19th. This represents a $0.80 annualized dividend and a yield of 1.15%. Cognizant Technology Solutions’s dividend payout ratio is currently 22.66%.

In other Cognizant Technology Solutions news, EVP James Patrick Lennox sold 744 shares of the business’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $76.68, for a total value of $57,049.92. Following the transaction, the executive vice president now directly owns 5,920 shares of the company’s stock, valued at approximately $453,945.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Matthew W. Friedrich sold 447 shares of the business’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $76.29, for a total transaction of $34,101.63. The disclosure for this sale can be found here. Insiders sold a total of 15,506 shares of company stock worth $1,101,632 over the last three months. 0.60% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cornerstone Wealth Management LLC acquired a new position in shares of Cognizant Technology Solutions during the 2nd quarter worth $365,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of Cognizant Technology Solutions by 22.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 49,045 shares of the information technology service provider’s stock worth $3,874,000 after purchasing an additional 8,914 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Cognizant Technology Solutions by 20.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 60,770 shares of the information technology service provider’s stock worth $4,800,000 after purchasing an additional 10,497 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Cognizant Technology Solutions by 288.2% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 58,525 shares of the information technology service provider’s stock worth $4,623,000 after purchasing an additional 43,450 shares during the period. Finally, Wasatch Advisors Inc. grew its stake in shares of Cognizant Technology Solutions by 27.9% during the 2nd quarter. Wasatch Advisors Inc. now owns 16,950 shares of the information technology service provider’s stock worth $1,339,000 after purchasing an additional 3,700 shares during the period. 86.37% of the stock is currently owned by institutional investors.

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 business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

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

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