Cognizant Technology Solutions Corp (NASDAQ:CTSH) – Investment analysts at Oppenheimer cut their Q1 2019 earnings per share estimates for shares of Cognizant Technology Solutions in a research note issued on Thursday, December 6th. Oppenheimer analyst G. Greene now expects that the information technology service provider will post earnings of $1.09 per share for the quarter, down from their previous forecast of $1.10. Oppenheimer also issued estimates for Cognizant Technology Solutions’ Q2 2019 earnings at $1.14 EPS, Q3 2019 earnings at $1.16 EPS, Q4 2019 earnings at $1.22 EPS and FY2020 earnings at $5.05 EPS.
Other research analysts have also recently issued reports about the company. Loop Capital set a $94.00 price objective on Cognizant Technology Solutions and gave the company a “buy” rating in a research note on Monday, November 19th. Nomura raised Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and set a $79.00 price objective on the stock in a research note on Wednesday, October 31st. Citigroup cut their target price on Cognizant Technology Solutions from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, October 31st. BMO Capital Markets reissued a “buy” rating and issued a $82.00 target price on shares of Cognizant Technology Solutions in a research note on Tuesday, October 30th. Finally, HSBC raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $82.34.
Shares of NASDAQ:CTSH opened at $69.40 on Friday. Cognizant Technology Solutions has a 12-month low of $65.14 and a 12-month high of $85.10. The stock has a market cap of $40.54 billion, a PE ratio of 19.66, a P/E/G ratio of 1.51 and a beta of 0.95. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.06.
Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.06. Cognizant Technology Solutions had a return on equity of 22.54% and a net margin of 9.07%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the firm earned $0.98 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Tuesday, November 20th were issued a $0.20 dividend. The ex-dividend date was Monday, November 19th. This represents a $0.80 annualized dividend and a yield of 1.15%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 22.66%.
In other Cognizant Technology Solutions news, insider Sean Middleton sold 439 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $76.28, for a total value of $33,486.92. Following the completion of the sale, the insider now directly owns 5,135 shares in the company, valued at $391,697.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert Telesmanic sold 5,062 shares of the firm’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $68.00, for a total transaction of $344,216.00. The disclosure for this sale can be found here. Insiders sold 15,506 shares of company stock valued at $1,101,632 over the last 90 days. 0.60% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Green Square Capital LLC raised its holdings in Cognizant Technology Solutions by 5.3% in the 2nd quarter. Green Square Capital LLC now owns 13,430 shares of the information technology service provider’s stock worth $1,061,000 after acquiring an additional 674 shares during the last quarter. GW Henssler & Associates Ltd. raised its holdings in Cognizant Technology Solutions by 0.4% in the 2nd quarter. GW Henssler & Associates Ltd. now owns 185,120 shares of the information technology service provider’s stock worth $14,623,000 after acquiring an additional 679 shares during the last quarter. Whittier Trust Co. raised its holdings in Cognizant Technology Solutions by 20.8% in the 3rd quarter. Whittier Trust Co. now owns 4,066 shares of the information technology service provider’s stock worth $313,000 after acquiring an additional 700 shares during the last quarter. Twin Capital Management Inc. raised its holdings in Cognizant Technology Solutions by 0.7% in the 2nd quarter. Twin Capital Management Inc. now owns 104,050 shares of the information technology service provider’s stock worth $8,219,000 after acquiring an additional 710 shares during the last quarter. Finally, IFG Advisory LLC raised its holdings in Cognizant Technology Solutions by 4.7% in the 3rd quarter. IFG Advisory LLC now owns 16,235 shares of the information technology service provider’s stock worth $1,252,000 after acquiring an additional 730 shares during the last quarter. Institutional investors own 86.37% of the company’s stock.
Cognizant Technology Solutions Company Profile
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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