Wedbush Equities Analysts Boost Earnings Estimates for Cognizant Technology Solutions Corp (NASDAQ:CTSH)

Cognizant Technology Solutions Corp (NASDAQ:CTSH) – Research analysts at Wedbush lifted their Q4 2018 earnings per share (EPS) estimates for Cognizant Technology Solutions in a report released on Tuesday, Zacks Investment Research reports. Wedbush analyst M. Katri now forecasts that the information technology service provider will earn $1.04 per share for the quarter, up from their previous estimate of $1.02. Wedbush also issued estimates for Cognizant Technology Solutions’ Q2 2019 earnings at $1.16 EPS.

A number of other brokerages have also commented on CTSH. BidaskClub raised Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a report on Friday, January 19th. Citigroup raised Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and raised their price target for the company from $75.84 to $79.00 in a report on Thursday, January 18th. Zacks Investment Research lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Credit Suisse Group reissued an “outperform” rating and set a $89.00 price target (up from $80.00) on shares of Cognizant Technology Solutions in a report on Thursday, November 2nd. Finally, William Blair raised Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 1st. Five research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $81.98.

Shares of Cognizant Technology Solutions (NASDAQ CTSH) opened at $75.72 on Thursday. The firm has a market capitalization of $44,650.00, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 1.52 and a beta of 1.11. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions has a 52-week low of $51.66 and a 52-week high of $78.95.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the company earned $0.86 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis.

Several large investors have recently added to or reduced their stakes in the stock. Commonwealth Bank of Australia boosted its position in Cognizant Technology Solutions by 4.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 29,290 shares of the information technology service provider’s stock worth $1,943,000 after acquiring an additional 1,279 shares during the period. Seven Eight Capital LP boosted its position in Cognizant Technology Solutions by 463.6% during the 2nd quarter. Seven Eight Capital LP now owns 37,808 shares of the information technology service provider’s stock worth $2,510,000 after acquiring an additional 31,100 shares during the period. CWA Asset Management Group LLC boosted its position in Cognizant Technology Solutions by 1.0% during the 2nd quarter. CWA Asset Management Group LLC now owns 5,717 shares of the information technology service provider’s stock worth $380,000 after acquiring an additional 57 shares during the period. Teachers Advisors LLC boosted its position in Cognizant Technology Solutions by 2.2% during the 2nd quarter. Teachers Advisors LLC now owns 976,850 shares of the information technology service provider’s stock worth $64,863,000 after acquiring an additional 20,982 shares during the period. Finally, Icon Advisers Inc. Co. boosted its position in Cognizant Technology Solutions by 7.2% during the 2nd quarter. Icon Advisers Inc. Co. now owns 68,300 shares of the information technology service provider’s stock worth $4,535,000 after acquiring an additional 4,600 shares during the period. Institutional investors and hedge funds own 86.17% of the company’s stock.

In related news, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $78.00, for a total value of $1,950,000.00. Following the completion of the transaction, the insider now owns 196,300 shares in the company, valued at approximately $15,311,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Rajeev Mehta sold 42,563 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $77.50, for a total value of $3,298,632.50. Following the completion of the transaction, the president now owns 35,020 shares of the company’s stock, valued at approximately $2,714,050. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 975,311 shares of company stock worth $71,570,078. 1.08% of the stock is owned by corporate insiders.

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About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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

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