Cognizant Technology Solutions, Inc. (NASDAQ:CTSH – Free Report) – William Blair investment analysts increased their Q4 2024 EPS estimates for Cognizant Technology Solutions in a report on Thursday, May 2nd. William Blair analyst M. Nolan now expects the information technology services provider to report earnings per share of $1.16 for the current quarter, up from their previous estimate of $1.14. Cognizant Technology Solutions' current consensus estimate for full-year earnings is $4.60 per share.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last posted its earnings results on Wednesday, May 1st. The information technology services provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.11 by $0.01. The business had revenue of $4.76 billion in the quarter, compared to analyst expectations of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net profit margin of 10.84%. The company's revenue decreased by 1.1% compared to the same period last year. In the same period last year, the business' earnings per share were $1.11.
Other equity research analysts have also published reports on this stock. BMO Capital Markets lowered their target price on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a research report on Tuesday, April 30th. Royal Bank of Canada increased their target price on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 7th. Mizuho began coverage on Cognizant Technology Solutions in a research note on Tuesday, January 30th. The company gave the stock a “neutral” rating and a price target of $82.00. Evercore ISI upped their target price on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “inline” rating in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. lowered their target price on Cognizant Technology Solutions from $81.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, 14 have rated it with a hold rating and three have assigned a buy rating to the company's stock. The stock has an average rating of “Hold” and an average price target of $75.67, according to MarketBeat data.
Get our latest analysis for Cognizant Technology Solutions.
Cognizant Technology Solutions stock fell 0.0%
NASDAQ CTSH stock opened Monday at $66.25. The company has a current ratio of 2.35, a quick ratio of 2.25, and a debt-to-equity ratio of 0.04. His 50 day moving average for this company is $72.31 and his 200 day moving average is $72.55. The company has a market capitalization of $32.98 billion, a price-to-earnings ratio of 15.93x, a PEG ratio of 1.51x, and a beta of 1.08x. Cognizant Technology Solutions has a 12-month low of $60.26 and a 12-month high of $80.09.
Cognizant Technology Solutions Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will receive his $0.30 dividend. The ex-dividend date of this dividend is May 17th (Friday). This equates to an annualized dividend of $1.20 and a yield of 1.81%. Cognizant Technology Solutions' dividend payout ratio is currently 28.85%.
Insider activity
In related news, EVP Katherine Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the transaction, the executive vice president now directly owns 8,312 shares of the company's stock, valued at $640,522.72. The sale was disclosed in her legal filing with the SEC, which can be accessed through this link. Insiders own 0.27% of the company's shares.
Cognizant Technology Solutions Institutional Trading
Several large investors have recently made changes to their holdings in the business. IFG Advisory LLC increased its holdings in shares of Cognizant Technology Solutions by 45.1% in the 4th quarter. IFG Advisory LLC now owns 67,119 shares of the information technology services provider's stock valued at $5,070,000 after purchasing an additional 20,874 shares during the period. Qube Research & Technologies Ltd raised its stake in Cognizant Technology Solutions by 36.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,227,411 shares of the information technology services provider's stock valued at $83,145,000 after acquiring an additional 324,638 shares during the period. PGGM Investments increased its holdings in shares of Cognizant Technology Solutions by 53.8% in the 3rd quarter. PGGM Investments now owns 74,411 shares of the information technology services provider's stock valued at $5,041,000 after acquiring an additional 26,035 shares in the last quarter. Assenagon Asset Management SA grew its position in Cognizant Technology Solutions by 110.2% in the 3rd quarter. Assenagon Asset Management SA now owns 1,344,587 shares of the information technology services provider's stock valued at $91,082,000 after purchasing an additional 704,932 shares during the period. Finally, Perigon Wealth Management LLC grew its holdings in shares of Cognizant Technology Solutions by 4.4% in the 4th quarter. Perigon Wealth Management LLC now owns 4,743 shares of the information technology services provider's stock valued at $358,000 after purchasing an additional 199 shares in the last quarter. 92.44% of the stock is held by institutional investors.
About Cognizant Technology Solutions
(Get Free Report)
Cognizant Technology Solutions Corporation is a professional services company providing consulting and technology and outsourcing services in North America, Europe, and internationally. The company operates through four segments: Financial Services, Health Sciences, Products & Resources, Communications, and Media & Technology.
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