$4.21 Billion in Sales Expected for Cognizant Technology Solutions Corp (NASDAQ:CTSH) This Quarter

Wall Street brokerages forecast that Cognizant Technology Solutions Corp (NASDAQ:CTSH) will post sales of $4.21 billion for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Cognizant Technology Solutions’ earnings. The lowest sales estimate is $4.17 billion and the highest is $4.22 billion. Cognizant Technology Solutions reported sales of $4.08 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 3.2%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, October 30th.

On average, analysts expect that Cognizant Technology Solutions will report full year sales of $16.67 billion for the current financial year, with estimates ranging from $16.61 billion to $16.73 billion. For the next financial year, analysts expect that the company will post sales of $17.39 billion, with estimates ranging from $16.70 billion to $17.56 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Cognizant Technology Solutions.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. Cognizant Technology Solutions had a net margin of 12.61% and a return on equity of 20.52%. The company had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same period in the previous year, the firm earned $1.05 EPS. Cognizant Technology Solutions’s revenue was up 3.4% on a year-over-year basis.

A number of research firms recently commented on CTSH. TheStreet upgraded shares of Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a report on Tuesday, July 23rd. HSBC downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and dropped their target price for the stock from $72.00 to $70.00 in a report on Tuesday, July 23rd. UBS Group downgraded shares of Cognizant Technology Solutions from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $62.00 to $60.00 in a report on Friday, August 2nd. Zacks Investment Research downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and set a $66.00 target price on the stock. in a report on Thursday, September 5th. Finally, ValuEngine upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $73.32.

Shares of CTSH stock traded down $0.14 during midday trading on Friday, reaching $60.37. 830,346 shares of the company were exchanged, compared to its average volume of 3,367,463. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.55 and a current ratio of 2.55. The company’s 50 day moving average price is $61.68 and its two-hundred day moving average price is $64.81. Cognizant Technology Solutions has a 12 month low of $56.73 and a 12 month high of $76.29. The company has a market cap of $33.42 billion, a P/E ratio of 15.02, a PEG ratio of 1.38 and a beta of 1.07.

In related news, General Counsel Matthew W. Friedrich sold 452 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $64.29, for a total transaction of $29,059.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Robert Telesmanic sold 2,484 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $65.00, for a total transaction of $161,460.00. Following the transaction, the senior vice president now directly owns 7,337 shares in the company, valued at $476,905. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,212 shares of company stock worth $1,838,930. 0.56% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. North Star Investment Management Corp. purchased a new position in Cognizant Technology Solutions during the third quarter valued at approximately $25,000. Field & Main Bank grew its position in Cognizant Technology Solutions by 350.0% in the second quarter. Field & Main Bank now owns 450 shares of the information technology service provider’s stock worth $29,000 after acquiring an additional 350 shares in the last quarter. Resources Investment Advisors Inc. grew its position in Cognizant Technology Solutions by 125.6% in the first quarter. Resources Investment Advisors Inc. now owns 503 shares of the information technology service provider’s stock worth $36,000 after acquiring an additional 280 shares in the last quarter. Berman Capital Advisors LLC grew its position in Cognizant Technology Solutions by 137.7% in the second quarter. Berman Capital Advisors LLC now owns 637 shares of the information technology service provider’s stock worth $40,000 after acquiring an additional 369 shares in the last quarter. Finally, Citizens Financial Group Inc RI grew its position in Cognizant Technology Solutions by 35.3% in the second quarter. Citizens Financial Group Inc RI now owns 716 shares of the information technology service provider’s stock worth $46,000 after acquiring an additional 187 shares in the last quarter. 91.45% of the stock is currently owned by hedge funds and other institutional investors.

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 analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

See Also: Earnings Per Share (EPS) Explained

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

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