Zacks: Brokerages Expect Cognizant Technology Solutions Corp (CTSH) Will Post Quarterly Sales of $3.90 Billion

Analysts expect Cognizant Technology Solutions Corp (NASDAQ:CTSH) to announce $3.90 billion in sales for the current quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Cognizant Technology Solutions’ earnings, with the highest sales estimate coming in at $3.92 billion and the lowest estimate coming in at $3.88 billion. Cognizant Technology Solutions posted sales of $3.55 billion during the same quarter last year, which suggests a positive year over year growth rate of 9.9%. The business is expected to issue its next quarterly earnings report before the market opens on Monday, May 7th.

On average, analysts expect that Cognizant Technology Solutions will report full-year sales of $16.20 billion for the current financial year, with estimates ranging from $16.15 billion to $16.30 billion. For the next year, analysts anticipate that the business will report sales of $17.59 billion per share, with estimates ranging from $17.26 billion to $17.90 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Cognizant Technology Solutions.

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Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.15. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.82 billion. Cognizant Technology Solutions had a return on equity of 19.94% and a net margin of 10.15%. Cognizant Technology Solutions’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 earnings per share.

CTSH has been the subject of a number of analyst reports. BidaskClub lowered Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Zacks Investment Research upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a report on Tuesday, January 2nd. Barclays restated a “buy” rating and set a $86.00 target price on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Citigroup upgraded Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and upped their target price for the stock from $75.84 to $79.00 in a report on Thursday, January 18th. Finally, Morgan Stanley upped their target price on Cognizant Technology Solutions from $77.00 to $84.00 and gave the stock an “equal weight” rating in a report on Monday, February 5th. Six investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $84.22.

In other Cognizant Technology Solutions news, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $78.00, for a total transaction of $1,950,000.00. Following the sale, the insider now directly owns 196,300 shares of the company’s stock, valued at approximately $15,311,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gajakarnan Vibushanan Kandiah sold 1,519 shares of the stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $84.62, for a total value of $128,537.78. Following the sale, the insider now directly owns 10,584 shares in the company, valued at $895,618.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 288,508 shares of company stock worth $22,727,230. 1.08% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Cognizant Technology Solutions by 23.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 18,469 shares of the information technology service provider’s stock worth $1,312,000 after acquiring an additional 3,456 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in shares of Cognizant Technology Solutions by 6.3% during the 4th quarter. Xact Kapitalforvaltning AB now owns 107,429 shares of the information technology service provider’s stock worth $7,630,000 after acquiring an additional 6,386 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Cognizant Technology Solutions by 4.2% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 674,554 shares of the information technology service provider’s stock worth $47,907,000 after acquiring an additional 27,235 shares in the last quarter. GUARDCAP ASSET MANAGEMENT Ltd purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth about $17,942,000. Finally, J. Goldman & Co LP purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth about $13,833,000. 88.54% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions stock traded down $0.60 during mid-day trading on Monday, reaching $81.77. 3,053,681 shares of the company were exchanged, compared to its average volume of 3,144,649. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.07. The firm has a market cap of $48,437.77, a P/E ratio of 23.16, a P/E/G ratio of 1.55 and a beta of 1.04. Cognizant Technology Solutions has a 12-month low of $57.64 and a 12-month high of $85.10.

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Cognizant Technology Solutions Company Profile

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 (NASDAQ:CTSH)

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