Cognizant Technology Solutions Corporation (CTSH) to Post Q1 2017 Earnings of $0.77 Per Share, William Blair Forecasts

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) – Equities researchers at William Blair issued their Q1 2017 EPS estimates for Cognizant Technology Solutions Corporation in a research note issued to investors on Wednesday. William Blair analyst A. Doradla forecasts that the firm will post earnings per share of $0.77 for the quarter. William Blair currently has a “Market Perform” rating on the stock. William Blair also issued estimates for Cognizant Technology Solutions Corporation’s Q2 2017 earnings at $0.80 EPS, Q3 2017 earnings at $0.93 EPS and Q4 2017 earnings at $0.90 EPS.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, February 8th. The information technology service provider reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.01. Cognizant Technology Solutions Corporation had a return on equity of 18.83% and a net margin of 11.52%. The company earned $3.46 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis.

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

Other equities analysts have also recently issued reports about the company. Deutsche Bank AG reiterated a “buy” rating on shares of Cognizant Technology Solutions Corporation in a research report on Tuesday, November 29th. Cantor Fitzgerald set a $67.00 price target on Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research report on Tuesday, November 29th. Vetr cut Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating and set a $61.22 price target on the stock. in a research report on Monday, November 28th. Needham & Company LLC lowered their price target on Cognizant Technology Solutions Corporation from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, November 7th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $63.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, November 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. Cognizant Technology Solutions Corporation has a consensus rating of “Buy” and an average price target of $62.43.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 57.64 on Monday. Cognizant Technology Solutions Corporation has a 1-year low of $45.44 and a 1-year high of $63.23. The stock’s 50 day moving average price is $55.96 and its 200 day moving average price is $54.98. The stock has a market cap of $34.99 billion, a PE ratio of 22.60 and a beta of 1.28.

In related news, EVP James Patrick Lennox sold 690 shares of the business’s stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $54.67, for a total transaction of $37,722.30. Following the completion of the transaction, the executive vice president now owns 13,339 shares of the company’s stock, valued at approximately $729,243.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Malcolm Frank sold 666 shares of the business’s stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $54.67, for a total value of $36,410.22. Following the transaction, the vice president now directly owns 4,520 shares of the company’s stock, valued at approximately $247,108.40. The disclosure for this sale can be found here. Insiders have sold a total of 57,466 shares of company stock valued at $3,201,816 in the last three months. 0.81% of the stock is owned by insiders.

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Institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its position in shares of Cognizant Technology Solutions Corporation by 45.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 25,864,040 shares of the information technology service provider’s stock valued at $1,480,458,000 after buying an additional 8,041,798 shares in the last quarter. State Street Corp raised its position in shares of Cognizant Technology Solutions Corporation by 3.7% in the fourth quarter. State Street Corp now owns 23,832,120 shares of the information technology service provider’s stock valued at $1,335,314,000 after buying an additional 842,705 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Cognizant Technology Solutions Corporation by 1.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 15,625,736 shares of the information technology service provider’s stock valued at $745,504,000 after buying an additional 222,710 shares in the last quarter. Edgewood Management LLC raised its position in shares of Cognizant Technology Solutions Corporation by 25.3% in the fourth quarter. Edgewood Management LLC now owns 14,149,600 shares of the information technology service provider’s stock valued at $792,802,000 after buying an additional 2,860,888 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Cognizant Technology Solutions Corporation by 28.7% in the third quarter. Nordea Investment Management AB now owns 11,193,191 shares of the information technology service provider’s stock valued at $534,027,000 after buying an additional 2,499,068 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company’s stock.

About Cognizant Technology Solutions Corporation

Cognizant Technology Solutions Corporation is a provider of information technology (IT), consulting and business process services. The Company operates through four segments: Financial Services, which includes customers providing banking/transaction processing, capital markets and insurance services; Healthcare, which includes healthcare providers and payers, as well as life sciences customers, including pharmaceutical, biotech and medical device companies; Manufacturing, Retail and Logistics, which includes manufacturers, retailers, travel and other hospitality customers, as well as customers providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology.

5 Day Chart for NASDAQ:CTSH

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