Cognizant Technology Solutions Corporation (NASDAQ:CTSH) issued its quarterly earnings data on Wednesday. The information technology service provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.13, Bloomberg Earnings reports. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the business posted $0.86 earnings per share. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. Cognizant Technology Solutions Corporation updated its Q4 guidance to at least $0.95 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 20th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Friday, November 17th. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is presently 19.17%.
In other news, COO Srinivasan Veeraraghavachary sold 2,500 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $71.00, for a total value of $177,500.00. Following the completion of the sale, the chief operating officer now owns 27,165 shares in the company, valued at $1,928,715. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Rajeev Mehta sold 32,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $71.02, for a total transaction of $2,272,640.00. Following the completion of the sale, the president now owns 187,965 shares of the company’s stock, valued at approximately $13,349,274.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 281,095 shares of company stock worth $20,095,913. Corporate insiders own 1.08% of the company’s stock.
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A number of equities research analysts recently commented on CTSH shares. Royal Bank Of Canada restated a “buy” rating and set a $77.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Sunday, October 8th. Robert W. Baird reiterated a “buy” rating and issued a $80.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Sunday, September 10th. Zacks Investment Research upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Tuesday, October 10th. Vetr upgraded shares of Cognizant Technology Solutions Corporation from a “sell” rating to a “buy” rating and set a $76.85 price target on the stock in a research note on Tuesday, September 19th. Finally, Wedbush reiterated an “outperform” rating on shares of Cognizant Technology Solutions Corporation in a research note on Monday, September 18th. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. Cognizant Technology Solutions Corporation presently has an average rating of “Buy” and an average target price of $78.59.
Cognizant Technology Solutions Corporation 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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