$4.36 Billion in Sales Expected for Cognizant Technology Solutions Co. (NASDAQ:CTSH) This Quarter


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Equities analysts expect that Cognizant Technology Solutions Co. (NASDAQ:CTSH) will post $4.36 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Cognizant Technology Solutions’ earnings, with estimates ranging from $4.34 billion to $4.37 billion. Cognizant Technology Solutions reported sales of $4.23 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 3.1%. The company is expected to issue its next earnings report after the market closes on Wednesday, May 5th.

According to Zacks, analysts expect that Cognizant Technology Solutions will report full year sales of $17.86 billion for the current year, with estimates ranging from $17.66 billion to $18.04 billion. For the next year, analysts forecast that the firm will report sales of $18.82 billion, with estimates ranging from $18.57 billion to $19.04 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Cognizant Technology Solutions.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Tuesday, February 2nd. The information technology service provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.23). The company had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.25 billion. Cognizant Technology Solutions had a return on equity of 19.04% and a net margin of 8.78%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted $1.07 earnings per share.

CTSH has been the topic of a number of recent research reports. Barclays reiterated a “sell” rating and issued a $54.00 price objective on shares of Cognizant Technology Solutions in a report on Tuesday, December 22nd. Wells Fargo & Company initiated coverage on shares of Cognizant Technology Solutions in a report on Friday, December 18th. They issued an “overweight” rating on the stock. Wolfe Research upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 6th. Berenberg Bank raised their target price on shares of Cognizant Technology Solutions from $70.00 to $77.00 and gave the company a “hold” rating in a research note on Tuesday, February 2nd. Finally, William Blair raised shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 20th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $77.39.

In other Cognizant Technology Solutions news, insider Malcolm Frank sold 471 shares of the business’s stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $78.45, for a total transaction of $36,949.95. Following the completion of the transaction, the insider now owns 44,065 shares of the company’s stock, valued at $3,456,899.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Hoover Financial Advisors Inc. bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth about $27,000. Regent Peak Wealth Advisors LLC bought a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $27,000. Freedman Financial Associates Inc. bought a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $29,000. Catalyst Capital Advisors LLC bought a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $31,000. Finally, Ellevest Inc. boosted its holdings in Cognizant Technology Solutions by 38.9% in the fourth quarter. Ellevest Inc. now owns 525 shares of the information technology service provider’s stock valued at $43,000 after acquiring an additional 147 shares during the last quarter. Institutional investors own 87.66% of the company’s stock.

Shares of CTSH stock opened at $80.23 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.61 and a current ratio of 2.62. Cognizant Technology Solutions has a 52 week low of $47.39 and a 52 week high of $82.73. The company has a market capitalization of $42.57 billion, a P/E ratio of 29.71, a price-to-earnings-growth ratio of 1.83 and a beta of 1.12. The company’s 50 day moving average price is $76.72 and its two-hundred day moving average price is $76.72.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 26th. Shareholders of record on Thursday, February 18th were paid a dividend of $0.24 per share. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 17th. This represents a $0.96 annualized dividend and a yield of 1.20%. Cognizant Technology Solutions’s payout ratio is presently 24.06%.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services; Healthcare; Products and Resources; and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.

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

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