Cognizant Technology Solutions Co. (NASDAQ:CTSH) Expected to Post Quarterly Sales of $4.45 Billion

Wall Street brokerages expect Cognizant Technology Solutions Co. (NASDAQ:CTSH) to post $4.45 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Cognizant Technology Solutions’ earnings, with the highest sales estimate coming in at $4.48 billion and the lowest estimate coming in at $4.43 billion. Cognizant Technology Solutions reported sales of $4.00 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 11.3%. The firm is expected to issue its next quarterly earnings report on Wednesday, August 4th.

On average, analysts expect that Cognizant Technology Solutions will report full-year sales of $17.97 billion for the current fiscal year, with estimates ranging from $17.78 billion to $18.10 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $18.95 billion, with estimates ranging from $18.60 billion to $19.20 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Cognizant Technology Solutions.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Tuesday, May 4th. The information technology service provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 9.09%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 EPS.

Several research firms recently issued reports on CTSH. Susquehanna upped their price objective on Cognizant Technology Solutions from $89.00 to $99.00 and gave the company a “positive” rating in a research report on Thursday, May 6th. Zacks Investment Research raised Cognizant Technology Solutions from a “sell” rating to a “hold” rating and set a $79.00 price target on the stock in a report on Monday, May 10th. Morgan Stanley lowered their price target on Cognizant Technology Solutions from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Thursday, May 6th. Finally, Susquehanna Bancshares increased their price target on Cognizant Technology Solutions from $89.00 to $99.00 and gave the company a “positive” rating in a report on Thursday, May 6th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $79.82.

In other Cognizant Technology Solutions news, insider Malcolm Frank sold 471 shares of the stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $78.45, for a total value of $36,949.95. Following the completion of the sale, the insider now owns 44,065 shares in the company, valued at approximately $3,456,899.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Patsalos-Fox sold 5,858 shares of the firm’s stock in a transaction dated Thursday, May 27th. The shares were sold at an average price of $71.20, for a total value of $417,089.60. Following the transaction, the director now owns 57,830 shares of the company’s stock, valued at approximately $4,117,496. The disclosure for this sale can be found here. Insiders sold a total of 7,560 shares of company stock valued at $541,378 in the last quarter. 0.31% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Texas Capital Bank Wealth Management Services Inc. grew its position in shares of Cognizant Technology Solutions by 2.4% during the fourth quarter. Texas Capital Bank Wealth Management Services Inc. now owns 5,620 shares of the information technology service provider’s stock valued at $461,000 after purchasing an additional 130 shares in the last quarter. Signaturefd LLC grew its position in shares of Cognizant Technology Solutions by 3.4% during the first quarter. Signaturefd LLC now owns 4,067 shares of the information technology service provider’s stock valued at $318,000 after purchasing an additional 132 shares in the last quarter. Ellevest Inc. grew its position in shares of Cognizant Technology Solutions by 38.9% during the fourth quarter. Ellevest Inc. now owns 525 shares of the information technology service provider’s stock valued at $43,000 after purchasing an additional 147 shares in the last quarter. SP Asset Management lifted its holdings in shares of Cognizant Technology Solutions by 0.3% in the 1st quarter. SP Asset Management now owns 46,986 shares of the information technology service provider’s stock valued at $3,862,000 after acquiring an additional 147 shares during the last quarter. Finally, Rational Advisors LLC lifted its holdings in shares of Cognizant Technology Solutions by 1.2% in the 1st quarter. Rational Advisors LLC now owns 12,742 shares of the information technology service provider’s stock valued at $995,000 after acquiring an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

CTSH stock traded down $0.08 during midday trading on Friday, hitting $71.17. The company’s stock had a trading volume of 3,182,613 shares, compared to its average volume of 3,475,058. The stock has a market capitalization of $37.54 billion, a P/E ratio of 25.00, a PEG ratio of 1.63 and a beta of 1.15. Cognizant Technology Solutions has a 12 month low of $52.50 and a 12 month high of $82.73. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. The business has a 50-day simple moving average of $75.85.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 28th. Shareholders of record on Thursday, May 20th were paid a $0.24 dividend. The ex-dividend date was Wednesday, May 19th. This represents a $0.96 dividend on an annualized basis and a yield of 1.35%. Cognizant Technology Solutions’s payout ratio is presently 28.07%.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.

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

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