Cognizant Technology Solutions (CTSH) Updates FY18 Earnings Guidance

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Cognizant Technology Solutions (NASDAQ:CTSH) updated its FY18 earnings guidance on Tuesday. The company provided earnings per share guidance of at least $4.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.50. The company issued revenue guidance of $16.09 billion to $16.13 billion, compared to the consensus revenue estimate of $16.17 billion.Cognizant Technology Solutions also updated its FY 2018 guidance to $4.50 EPS.

Several analysts have issued reports on the stock. BidaskClub cut shares of Cognizant Technology Solutions from a buy rating to a hold rating in a research note on Friday, July 27th. BMO Capital Markets reiterated a buy rating and issued a $85.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, August 2nd. Wolfe Research initiated coverage on shares of Cognizant Technology Solutions in a report on Tuesday, July 17th. They issued a market perform rating on the stock. HSBC raised shares of Cognizant Technology Solutions from a hold rating to a buy rating in a report on Tuesday, September 18th. Finally, Moffett Nathanson initiated coverage on shares of Cognizant Technology Solutions in a report on Thursday, October 4th. They issued a neutral rating and a $85.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $85.53.

Shares of CTSH stock traded down $2.06 on Tuesday, hitting $67.16. 60,896 shares of the company’s stock traded hands, compared to its average volume of 3,325,117. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.27 and a current ratio of 3.27. Cognizant Technology Solutions has a one year low of $68.36 and a one year high of $85.10. The firm has a market cap of $40.92 billion, a P/E ratio of 19.61, a P/E/G ratio of 1.30 and a beta of 0.90.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.06. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.08 billion. Cognizant Technology Solutions had a net margin of 9.37% and a return on equity of 21.66%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 EPS. As a group, analysts forecast that Cognizant Technology Solutions will post 4.18 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Tuesday, November 20th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 22.66%.

In other Cognizant Technology Solutions news, EVP Allen Shaheen sold 352 shares of the firm’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $74.89, for a total value of $26,361.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Robert Telesmanic sold 834 shares of the firm’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $77.15, for a total transaction of $64,343.10. Following the completion of the sale, the senior vice president now directly owns 18,823 shares in the company, valued at approximately $1,452,194.45. The disclosure for this sale can be found here. In the last three months, insiders sold 48,288 shares of company stock worth $3,694,551. Insiders own 0.60% of the company’s stock.

About Cognizant Technology Solutions

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 business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

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

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