FY2024 EPS Estimates for Cognizant Technology Solutions Co. Raised by William Blair (NASDAQ:CTSH)

Cognizant Technology Solutions Co. (NASDAQ:CTSH) – Investment analysts at William Blair boosted their FY2024 EPS estimates for Cognizant Technology Solutions in a report issued on Thursday, August 1st. William Blair analyst M. Nolan now expects that the information technology service provider will earn $4.65 per share for the year, up from their prior forecast of $4.55. The consensus estimate for Cognizant Technology Solutions’ current full-year earnings is $4.61 per share. William Blair also issued estimates for Cognizant Technology Solutions’ Q4 2024 earnings at $1.20 EPS, Q1 2025 earnings at $1.15 EPS and FY2025 earnings at $4.81 EPS.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.54%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter last year, the business posted $1.10 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis.

CTSH has been the topic of several other reports. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Mizuho restated a “neutral” rating and issued a $82.00 price target on shares of Cognizant Technology Solutions in a research note on Tuesday, June 11th. Susquehanna lowered their price objective on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Barclays raised their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $85.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus target price of $76.12.

Cognizant Technology Solutions Trading Up 0.8 %

Shares of CTSH opened at $76.31 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. Cognizant Technology Solutions has a 52-week low of $62.14 and a 52-week high of $80.27. The firm has a market cap of $37.94 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 2.26 and a beta of 1.05. The business’s fifty day moving average is $69.24 and its 200-day moving average is $71.90.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Cognizant Technology Solutions by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock valued at $4,254,178,000 after purchasing an additional 6,933,908 shares during the last quarter. Boston Partners lifted its holdings in Cognizant Technology Solutions by 1.3% in the first quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock valued at $569,175,000 after buying an additional 101,078 shares during the period. Dimensional Fund Advisors LP boosted its position in Cognizant Technology Solutions by 4.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,433,474 shares of the information technology service provider’s stock valued at $410,406,000 after acquiring an additional 238,551 shares during the last quarter. Norges Bank acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth about $406,360,000. Finally, National Bank of Canada FI raised its position in shares of Cognizant Technology Solutions by 9.2% in the 4th quarter. National Bank of Canada FI now owns 4,769,110 shares of the information technology service provider’s stock worth $354,822,000 after acquiring an additional 401,076 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

About Cognizant Technology Solutions

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