Jefferies Group Comments on Cognizant Technology Solutions Corporation’s Q1 2017 Earnings (CTSH)

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) – Analysts at Jefferies Group lowered their Q1 2017 earnings per share estimates for Cognizant Technology Solutions Corporation in a research report issued to clients and investors on Wednesday. Jefferies Group analyst J. Kupferberg now expects that the firm will post earnings per share of $0.74 for the quarter, down from their previous estimate of $0.77. Jefferies Group currently has a “Buy” rating and a $70.00 price objective on the stock. Jefferies Group also issued estimates for Cognizant Technology Solutions Corporation’s Q2 2017 earnings at $0.79 EPS and Q3 2017 earnings at $0.87 EPS.

Other equities research analysts have also issued reports about the company. Cantor Fitzgerald set a $67.00 price objective on Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research note on Tuesday, November 29th. Vetr lowered Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating and set a $61.22 price target for the company. in a research note on Monday, November 28th. Deutsche Bank AG reissued a “buy” rating on shares of Cognizant Technology Solutions Corporation in a research note on Tuesday, November 8th. Finally, Needham & Company LLC decreased their price target on Cognizant Technology Solutions Corporation from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, November 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company’s stock. Cognizant Technology Solutions Corporation presently has a consensus rating of “Buy” and an average target price of $62.43.

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

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Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 57.64 on Monday. The stock’s 50 day moving average price is $55.96 and its 200-day moving average price is $54.98. Cognizant Technology Solutions Corporation has a 12 month low of $45.44 and a 12 month high of $63.23. The company has a market cap of $34.99 billion, a P/E ratio of 22.60 and a beta of 1.28.

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

In related news, VP Malcolm Frank sold 666 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $247,108.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Karen Mcloughlin sold 1,873 shares of the company’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $58.16, for a total value of $108,933.68. Following the completion of the transaction, the chief financial officer now owns 40,741 shares in the company, valued at $2,369,496.56. The disclosure for this sale can be found here. Insiders sold 57,466 shares of company stock valued at $3,201,816 over the last 90 days. Company insiders own 0.81% of the company’s stock.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTSH. Massachusetts Financial Services Co. MA boosted its position in 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 worth $1,480,458,000 after buying an additional 8,041,798 shares in the last quarter. State Street Corp boosted its position in 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 worth $1,335,314,000 after buying an additional 842,705 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in 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 worth $745,504,000 after buying an additional 222,710 shares in the last quarter. Edgewood Management LLC boosted its position in 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 worth $792,802,000 after buying an additional 2,860,888 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in 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 worth $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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