Equities research analysts expect Cognizant Technology Solutions Corp (NASDAQ:CTSH) to announce sales of $4.23 billion for the current quarter, Zacks reports. Eight analysts have provided estimates for Cognizant Technology Solutions’ earnings, with the lowest sales estimate coming in at $4.22 billion and the highest estimate coming in at $4.24 billion. Cognizant Technology Solutions reported sales of $4.11 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.9%. The firm is scheduled to announce its next earnings results on Thursday, May 7th.

According to Zacks, analysts expect that Cognizant Technology Solutions will report full year sales of $17.31 billion for the current fiscal year, with estimates ranging from $17.24 billion to $17.50 billion. For the next financial year, analysts anticipate that the business will report sales of $18.20 billion, with estimates ranging from $18.03 billion to $18.51 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Cognizant Technology Solutions.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.03. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 20.60%. The firm had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same period in the previous year, the business posted $1.13 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year.

A number of equities analysts have commented on the stock. Atlantic Securities assumed coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, February 19th. They set an “underweight” rating and a $65.00 price objective for the company. Wolfe Research cut shares of Cognizant Technology Solutions from a “peer perform” rating to an “underperform” rating and set a $65.00 price objective for the company. in a research report on Monday, January 6th. Berenberg Bank assumed coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, January 21st. They set a “hold” rating and a $63.00 price objective for the company. BidaskClub cut shares of Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Wells Fargo & Co lifted their price objective on shares of Cognizant Technology Solutions from $73.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Nine research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $68.06.

CTSH stock traded down $2.67 during midday trading on Monday, reaching $67.42. 4,555,643 shares of the company were exchanged, compared to its average volume of 3,486,712. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 2.55. The business has a 50-day moving average price of $64.65 and a two-hundred day moving average price of $62.57. Cognizant Technology Solutions has a one year low of $56.73 and a one year high of $74.85. The firm has a market capitalization of $38.45 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 1.56 and a beta of 1.06.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.20. Cognizant Technology Solutions’s payout ratio is presently 22.06%.

Cognizant Technology Solutions announced that its Board of Directors has initiated a share buyback plan on Wednesday, February 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the information technology service provider to reacquire up to 5.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

In other news, Director Francisco Dsouza sold 62,178 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $63.62, for a total value of $3,955,764.36. Following the completion of the sale, the director now owns 526,227 shares of the company’s stock, valued at $33,478,561.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Matthew W. Friedrich sold 9,890 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $61.19, for a total transaction of $605,169.10. The disclosure for this sale can be found here. In the last three months, insiders sold 313,189 shares of company stock valued at $19,422,499. 0.56% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. California Public Employees Retirement System raised its stake in Cognizant Technology Solutions by 7.8% in the third quarter. California Public Employees Retirement System now owns 3,972,744 shares of the information technology service provider’s stock valued at $239,417,000 after purchasing an additional 285,994 shares in the last quarter. MV Capital Management Inc. acquired a new position in Cognizant Technology Solutions in the third quarter valued at about $90,000. Dupont Capital Management Corp acquired a new position in Cognizant Technology Solutions in the third quarter valued at about $476,000. Pensionfund Sabic acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at about $1,861,000. Finally, National Pension Service raised its stake in Cognizant Technology Solutions by 5.0% in the third quarter. National Pension Service now owns 704,488 shares of the information technology service provider’s stock valued at $42,456,000 after purchasing an additional 33,523 shares in the last quarter. 90.23% of the stock is owned by institutional investors and hedge funds.

About Cognizant Technology Solutions

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.

See Also: Compound Annual Growth Rate (CAGR)

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

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