Wedbush Research Analysts Boost Earnings Estimates for Cognizant Technology Solutions Corp (NASDAQ:CTSH)

Cognizant Technology Solutions Corp (NASDAQ:CTSH) – Stock analysts at Wedbush raised their Q4 2018 EPS estimates for Cognizant Technology Solutions in a research report issued to clients and investors on Tuesday, Zacks Investment Research reports. Wedbush analyst M. Katri now expects that the information technology service provider will post earnings of $1.04 per share for the quarter, up from their prior forecast of $1.02. Wedbush also issued estimates for Cognizant Technology Solutions’ Q2 2019 earnings at $1.16 EPS.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.13. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the previous year, the company posted $0.86 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year.

CTSH has been the topic of a number of other reports. Zacks Investment Research upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a research note on Tuesday, October 10th. Robert W. Baird boosted their price objective on Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, October 19th. BidaskClub lowered Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. SunTrust Banks reiterated a “buy” rating and set a $85.00 price objective on shares of Cognizant Technology Solutions in a research note on Friday, November 3rd. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $77.00 price objective on shares of Cognizant Technology Solutions in a research note on Sunday, October 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $81.98.

Cognizant Technology Solutions (CTSH) traded up $0.91 during trading hours on Thursday, hitting $76.75. The company had a trading volume of 5,319,233 shares, compared to its average volume of 3,715,442. 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 12 month low of $51.52 and a 12 month high of $77.14. The company has a market cap of $45,260.00, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 1.43 and a beta of 1.08.

In other news, insider Venkat Krishnaswamy sold 4,000 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $75.00, for a total value of $300,000.00. Following the completion of the transaction, the insider now directly owns 3,919 shares in the company, valued at approximately $293,925. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Malcolm Frank sold 9,462 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $70.61, for a total value of $668,111.82. Following the completion of the transaction, the vice president now owns 15,533 shares of the company’s stock, valued at $1,096,785.13. The disclosure for this sale can be found here. Insiders sold a total of 844,786 shares of company stock valued at $61,507,334 over the last quarter. Company insiders own 1.08% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTSH. FMR LLC lifted its stake in shares of Cognizant Technology Solutions by 81.6% in the 2nd quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock valued at $1,664,366,000 after acquiring an additional 11,262,360 shares during the last quarter. Harding Loevner LP lifted its stake in shares of Cognizant Technology Solutions by 2,085,162.4% in the 3rd quarter. Harding Loevner LP now owns 3,544,946 shares of the information technology service provider’s stock valued at $142,254,000 after acquiring an additional 3,544,776 shares during the last quarter. Comgest Global Investors S.A.S. lifted its stake in shares of Cognizant Technology Solutions by 24.5% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 7,416,617 shares of the information technology service provider’s stock valued at $538,001,000 after acquiring an additional 1,461,800 shares during the last quarter. Edgewood Management LLC lifted its stake in shares of Cognizant Technology Solutions by 9.3% in the 3rd quarter. Edgewood Management LLC now owns 16,915,676 shares of the information technology service provider’s stock valued at $1,227,063,000 after acquiring an additional 1,443,368 shares during the last quarter. Finally, BT Investment Management Ltd bought a new stake in shares of Cognizant Technology Solutions in the 2nd quarter valued at about $83,134,000. 86.04% of the stock is owned by institutional investors.

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

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