Cognizant Technology Solutions (NASDAQ:CTSH) updated its FY18 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of at least $4.53 for the period, compared to the Thomson Reuters consensus estimate of $4.35. The company issued revenue guidance of $16-16.3 billion, compared to the consensus revenue estimate of $16.19 billion.Cognizant Technology Solutions also updated its Q1 guidance to at least $1.04 EPS.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Cognizant Technology Solutions from a hold rating to a buy rating and set a $82.00 price target for the company in a research report on Wednesday, January 10th. Needham & Company LLC raised their price target on shares of Cognizant Technology Solutions from $90.00 to $100.00 and gave the company a strong-buy rating in a research report on Thursday. BMO Capital Markets raised their price target on shares of Cognizant Technology Solutions from $78.00 to $86.00 and gave the company an outperform rating in a research report on Thursday. Cowen reissued a buy rating and set a $90.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday. Finally, Barclays reissued a buy rating and set a $88.00 price target (up previously from $86.00) on shares of Cognizant Technology Solutions in a research report on Thursday. Six analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $83.54.
Cognizant Technology Solutions (CTSH) traded up $0.46 on Thursday, hitting $76.98. 1,630,199 shares of the company were exchanged, compared to its average volume of 3,654,972. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29. Cognizant Technology Solutions has a 52 week low of $56.29 and a 52 week high of $79.28. The stock has a market cap of $43,574.77, a PE ratio of 24.03, a price-to-earnings-growth ratio of 1.49 and a beta of 1.11.
Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.88 by $0.15. The business had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.87 EPS. equities research analysts anticipate that Cognizant Technology Solutions will post 3.35 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Thursday, February 22nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.04%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. Cognizant Technology Solutions’s payout ratio is presently 18.52%.
In other news, Vice Chairman Chandrasekaran Ramakrishnan sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $75.44, for a total transaction of $1,886,000.00. Following the sale, the insider now directly owns 271,300 shares in the company, valued at approximately $20,466,872. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Malcolm Frank sold 9,462 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $70.61, for a total transaction of $668,111.82. Following the sale, the vice president now owns 15,533 shares in the company, valued at $1,096,785.13. The disclosure for this sale can be found here. In the last quarter, insiders sold 961,064 shares of company stock worth $70,504,403. Corporate insiders own 1.08% of the company’s stock.
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About Cognizant Technology Solutions
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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