Cognizant Technology Solutions (NASDAQ:CTSH) Announces Earnings Results

Cognizant Technology Solutions (NASDAQ:CTSH) announced its earnings results on Wednesday. The information technology service provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05, Briefing.com reports. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the company posted $1.10 earnings per share.

Cognizant Technology Solutions Stock Down 0.0 %

Shares of Cognizant Technology Solutions stock traded down $0.01 during trading on Thursday, reaching $75.67. The stock had a trading volume of 3,789,965 shares, compared to its average volume of 4,133,667. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $37.62 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 2.27 and a beta of 1.05. The stock has a fifty day moving average price of $69.08 and a two-hundred day moving average price of $71.87. Cognizant Technology Solutions has a 52 week low of $62.14 and a 52 week high of $80.24.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CTSH shares. Royal Bank of Canada increased their price target on shares of Cognizant Technology Solutions from $77.00 to $81.00 and gave the company a “sector perform” rating in a research note on Thursday. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Susquehanna cut their target price on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Wedbush reiterated an “outperform” rating and set a $85.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $76.12.

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. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.