Q4 2018 EPS Estimates for Cognizant Technology Solutions Corp Decreased by SunTrust Banks (CTSH)

Cognizant Technology Solutions Corp (NASDAQ:CTSH) – Stock analysts at SunTrust Banks dropped their Q4 2018 earnings per share (EPS) estimates for Cognizant Technology Solutions in a research note issued on Tuesday, October 30th. SunTrust Banks analyst F. Atkins now anticipates that the information technology service provider will earn $0.98 per share for the quarter, down from their previous forecast of $1.06. SunTrust Banks also issued estimates for Cognizant Technology Solutions’ Q1 2020 earnings at $1.19 EPS, Q2 2020 earnings at $1.27 EPS, Q3 2020 earnings at $1.32 EPS and FY2020 earnings at $5.12 EPS.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.06. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.08 billion. Cognizant Technology Solutions had a net margin of 9.07% and a return on equity of 22.54%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share.

Other equities research analysts have also recently issued reports about the stock. HSBC raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. Citigroup decreased their target price on shares of Cognizant Technology Solutions from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday. BMO Capital Markets reaffirmed a “buy” rating and set a $82.00 price target on shares of Cognizant Technology Solutions in a research note on Tuesday. BidaskClub raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Friday, July 13th. Finally, Cowen reaffirmed a “buy” rating and set a $87.00 price target on shares of Cognizant Technology Solutions in a research note on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Cognizant Technology Solutions has a consensus rating of “Buy” and a consensus target price of $84.42.

Shares of CTSH stock traded up $0.47 on Friday, reaching $69.25. 63,775 shares of the stock were exchanged, compared to its average volume of 3,882,738. The company has a current ratio of 3.24, a quick ratio of 3.27 and a debt-to-equity ratio of 0.06. The company has a market cap of $38.60 billion, a P/E ratio of 19.63, a PEG ratio of 1.22 and a beta of 0.90. Cognizant Technology Solutions has a twelve month low of $65.14 and a twelve month high of $85.10.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Tuesday, November 20th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Monday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is presently 22.66%.

In other news, SVP Robert Telesmanic sold 834 shares of the firm’s stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $77.15, for a total value of $64,343.10. Following the transaction, the senior vice president now owns 18,823 shares of the company’s stock, valued at approximately $1,452,194.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Allen Shaheen sold 352 shares of the firm’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $74.89, for a total transaction of $26,361.28. The disclosure for this sale can be found here. In the last three months, insiders sold 48,288 shares of company stock worth $3,694,551. Insiders own 0.60% of the company’s stock.

Several hedge funds have recently modified their holdings of CTSH. BlackRock Inc. grew its holdings in Cognizant Technology Solutions by 6.9% during the 2nd quarter. BlackRock Inc. now owns 42,845,471 shares of the information technology service provider’s stock valued at $3,384,363,000 after purchasing an additional 2,775,975 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Cognizant Technology Solutions by 4.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 18,273,087 shares of the information technology service provider’s stock valued at $1,443,390,000 after purchasing an additional 836,521 shares in the last quarter. Edgewood Management LLC grew its holdings in Cognizant Technology Solutions by 2.3% during the 2nd quarter. Edgewood Management LLC now owns 18,137,904 shares of the information technology service provider’s stock valued at $1,432,713,000 after purchasing an additional 414,390 shares in the last quarter. Northern Trust Corp grew its holdings in Cognizant Technology Solutions by 3.8% during the 2nd quarter. Northern Trust Corp now owns 7,277,524 shares of the information technology service provider’s stock valued at $574,852,000 after purchasing an additional 269,366 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Cognizant Technology Solutions by 9.3% during the 2nd quarter. Wells Fargo & Company MN now owns 5,358,928 shares of the information technology service provider’s stock valued at $423,302,000 after purchasing an additional 454,193 shares in the last quarter. 88.04% of the stock is currently 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 business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

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

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