Cognizant Technology Solutions (CTSH) Scheduled to Post Quarterly Earnings on Wednesday

Cognizant Technology Solutions (NASDAQ:CTSH) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $1.15 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.10 earnings per share. On average, analysts expect Cognizant Technology Solutions to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $74.82 on Monday. Cognizant Technology Solutions has a 52-week low of $62.14 and a 52-week high of $80.27. The stock’s 50-day moving average price is $76.50 and its 200 day moving average price is $71.83. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $37.20 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CTSH. Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Royal Bank of Canada lifted their price objective on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. The Goldman Sachs Group reissued a “neutral” rating and set a $76.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Finally, Jefferies Financial Group started coverage on Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $77.58.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the transaction, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at $3,419,812.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by insiders.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.