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


Share on StockTwits

Equities research analysts expect Cognizant Technology Solutions Co. (NASDAQ:CTSH) to report sales of $4.36 billion for the current quarter, Zacks reports. Seven analysts have issued estimates for Cognizant Technology Solutions’ earnings, with the highest sales estimate coming in at $4.37 billion and the lowest estimate coming in at $4.34 billion. Cognizant Technology Solutions posted sales of $4.23 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 3.1%. The business is scheduled to issue its next quarterly earnings results 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 financial year, with estimates ranging from $17.66 billion to $18.04 billion. For the next year, analysts anticipate that the business will post sales of $18.82 billion, with estimates ranging from $18.57 billion to $19.04 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Cognizant Technology Solutions.

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

A number of analysts have weighed in on the company. Wolfe Research upgraded Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a report on Wednesday, January 6th. Berenberg Bank upped their target price on Cognizant Technology Solutions from $70.00 to $77.00 and gave the stock a “hold” rating in a report on Tuesday, February 2nd. Deutsche Bank Aktiengesellschaft upped their target price on Cognizant Technology Solutions from $71.00 to $79.00 and gave the stock a “hold” rating in a report on Monday, February 1st. Zacks Investment Research raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Wednesday, February 3rd. Finally, Societe Generale downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, February 4th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average price target of $77.39.

In other Cognizant Technology Solutions news, insider Malcolm Frank sold 471 shares of the 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 sale, the insider now directly owns 44,065 shares of the company’s stock, valued at approximately $3,456,899.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CTSH. Hoover Financial Advisors Inc. acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth about $27,000. Regent Peak Wealth Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth about $27,000. Freedman Financial Associates Inc. purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth about $29,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth about $31,000. Finally, CVA Family Office LLC boosted its stake in shares of Cognizant Technology Solutions by 935.9% during the 1st quarter. CVA Family Office LLC now owns 404 shares of the information technology service provider’s stock worth $32,000 after acquiring an additional 365 shares in the last quarter. 87.66% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions stock traded down $0.79 during mid-day trading on Tuesday, reaching $79.61. 2,914,946 shares of the company were exchanged, compared to its average volume of 2,952,563. The business has a fifty day moving average of $77.80 and a 200 day moving average of $77.18. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.61 and a current ratio of 2.62. The firm has a market cap of $42.24 billion, a P/E ratio of 29.49, a PEG ratio of 1.83 and a beta of 1.12. Cognizant Technology Solutions has a 12-month low of $47.39 and a 12-month high of $82.73.

The business also recently declared a quarterly dividend, which was paid on Friday, February 26th. Shareholders of record on Thursday, February 18th were given a dividend of $0.24 per share. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 1.21%. The ex-dividend date was Wednesday, February 17th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 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.

Further Reading: Most Active Stocks: Dollar Volume vs Share Volume

Get a free copy of the Zacks research report on Cognizant Technology Solutions (CTSH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.