Equities research analysts forecast that Cognizant Technology Solutions Corporation (NASDAQ:CTSH) will post sales of $3.76 billion for the current fiscal quarter, according to Zacks. Nine analysts have issued estimates for Cognizant Technology Solutions Corporation’s earnings, with the lowest sales estimate coming in at $3.74 billion and the highest estimate coming in at $3.77 billion. Cognizant Technology Solutions Corporation reported sales of $3.45 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 9%. The business is scheduled to issue its next earnings report on Monday, November 6th.

On average, analysts expect that Cognizant Technology Solutions Corporation will report full year sales of $3.76 billion for the current year, with estimates ranging from $14.76 billion to $14.81 billion. For the next financial year, analysts anticipate that the firm will post sales of $16.14 billion per share, with estimates ranging from $15.99 billion to $16.32 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Cognizant Technology Solutions Corporation.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same period in the previous year, the company earned $0.87 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year.

A number of research firms have weighed in on CTSH. Credit Suisse Group set a $70.00 price target on Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research note on Saturday, May 6th. Needham & Company LLC restated a “buy” rating and issued a $78.00 price target (up from $72.00) on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday. Zacks Investment Research upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research note on Tuesday. Berenberg Bank upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and raised their price target for the company from $65.00 to $85.00 in a research note on Tuesday. Finally, Cowen and Company restated a “buy” rating and issued a $75.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Cognizant Technology Solutions Corporation has an average rating of “Buy” and a consensus target price of $70.02.

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Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 71.01 on Thursday. The stock’s 50 day moving average price is $68.52 and its 200-day moving average price is $62.51. The firm has a market capitalization of $41.82 billion, a price-to-earnings ratio of 25.83 and a beta of 1.17. Cognizant Technology Solutions Corporation has a one year low of $45.44 and a one year high of $71.57.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd will be issued a $0.15 dividend. The ex-dividend date is Friday, August 18th. This represents a $0.60 annualized dividend and a yield of 0.84%. Cognizant Technology Solutions Corporation’s dividend payout ratio is presently 19.17%.

In other news, COO Srinivasan Veeraraghavachary sold 3,069 shares of Cognizant Technology Solutions Corporation stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $65.00, for a total value of $199,485.00. Following the transaction, the chief operating officer now owns 24,737 shares in the company, valued at approximately $1,607,905. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Maureen Breakiron-Evans sold 12,368 shares of Cognizant Technology Solutions Corporation stock in a transaction on Monday, August 7th. The shares were sold at an average price of $69.70, for a total value of $862,049.60. Following the completion of the transaction, the director now owns 1,075 shares in the company, valued at approximately $74,927.50. The disclosure for this sale can be found here. Insiders sold a total of 77,528 shares of company stock valued at $5,306,449 over the last ninety days. Insiders own 1.08% of the company’s stock.

Several institutional investors have recently modified their holdings of CTSH. BlackRock Inc. raised its stake in shares of Cognizant Technology Solutions Corporation by 3,470.1% in the first quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock worth $2,425,316,000 after buying an additional 39,606,526 shares in the last quarter. Comgest Global Investors S.A.S. purchased a new stake in shares of Cognizant Technology Solutions Corporation during the first quarter worth $224,748,000. Thrivent Financial For Lutherans raised its stake in shares of Cognizant Technology Solutions Corporation by 11,666.2% in the first quarter. Thrivent Financial For Lutherans now owns 2,468,550 shares of the information technology service provider’s stock worth $146,928,000 after buying an additional 2,447,570 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Cognizant Technology Solutions Corporation by 112.5% in the first quarter. Alliancebernstein L.P. now owns 4,487,749 shares of the information technology service provider’s stock worth $267,111,000 after buying an additional 2,375,626 shares in the last quarter. Finally, SRS Investment Management LLC purchased a new stake in shares of Cognizant Technology Solutions Corporation during the first quarter worth $134,797,000. Institutional investors own 89.21% of the company’s stock.

About Cognizant Technology Solutions Corporation

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 Corporation (NASDAQ:CTSH)

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