Wall Street analysts predict that Cognizant Technology Solutions Co. (NASDAQ:CTSH) will announce sales of $4.73 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Cognizant Technology Solutions’ earnings, with the lowest sales estimate coming in at $4.72 billion and the highest estimate coming in at $4.74 billion. Cognizant Technology Solutions posted sales of $4.24 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.6%. The firm is scheduled to report its next earnings results on Wednesday, October 27th.
On average, analysts expect that Cognizant Technology Solutions will report full year sales of $18.41 billion for the current fiscal year, with estimates ranging from $18.09 billion to $18.48 billion. For the next financial year, analysts expect that the firm will report sales of $19.57 billion, with estimates ranging from $19.09 billion to $19.96 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Cognizant Technology Solutions.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Tuesday, July 27th. The information technology service provider reported $0.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.03. Cognizant Technology Solutions had a return on equity of 17.41% and a net margin of 9.65%. The firm had revenue of $4.59 billion during the quarter, compared to the consensus estimate of $4.45 billion.
In related news, EVP Becky Schmitt sold 2,888 shares of the company’s stock in a transaction dated Thursday, July 1st. The stock was sold at an average price of $69.43, for a total transaction of $200,513.84. Following the sale, the executive vice president now owns 18,222 shares in the company, valued at $1,265,153.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Dodge & Cox grew its position in shares of Cognizant Technology Solutions by 39.1% in the second quarter. Dodge & Cox now owns 29,359,124 shares of the information technology service provider’s stock valued at $2,033,413,000 after purchasing an additional 8,252,344 shares during the last quarter. Amundi acquired a new position in shares of Cognizant Technology Solutions in the second quarter valued at approximately $196,034,000. Pzena Investment Management LLC grew its position in shares of Cognizant Technology Solutions by 18.4% in the second quarter. Pzena Investment Management LLC now owns 12,066,171 shares of the information technology service provider’s stock valued at $835,703,000 after purchasing an additional 1,872,844 shares during the last quarter. First Trust Advisors LP grew its position in shares of Cognizant Technology Solutions by 65.6% in the second quarter. First Trust Advisors LP now owns 4,387,302 shares of the information technology service provider’s stock valued at $303,865,000 after purchasing an additional 1,738,078 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of Cognizant Technology Solutions by 147.8% in the first quarter. Clearbridge Investments LLC now owns 2,209,653 shares of the information technology service provider’s stock valued at $172,618,000 after purchasing an additional 1,318,079 shares during the last quarter. Hedge funds and other institutional investors own 89.04% of the company’s stock.
CTSH traded up $0.28 during trading on Friday, hitting $76.76. The company’s stock had a trading volume of 1,900,191 shares, compared to its average volume of 3,312,978. The firm’s 50 day moving average price is $73.70 and its two-hundred day moving average price is $74.34. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions has a 12 month low of $65.58 and a 12 month high of $82.73. The stock has a market capitalization of $40.34 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 1.71 and a beta of 1.15.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 31st. Investors of record on Friday, August 20th were issued a dividend of $0.24 per share. The ex-dividend date was Thursday, August 19th. This represents a $0.96 annualized dividend and a yield of 1.25%. Cognizant Technology Solutions’s payout ratio is presently 28.07%.
About Cognizant Technology Solutions
Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services; Healthcare; Products and Resources; and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.
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