Cognizant Technology Solutions Co. Forecasted to Post FY2022 Earnings of $4.45 Per Share (NASDAQ:CTSH)

Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) – Zacks Research lowered their FY2022 EPS estimates for Cognizant Technology Solutions in a note issued to investors on Wednesday, November 16th. Zacks Research analyst A. Ganguly now anticipates that the information technology service provider will post earnings per share of $4.45 for the year, down from their prior forecast of $4.55. The consensus estimate for Cognizant Technology Solutions’ current full-year earnings is $4.46 per share. Zacks Research also issued estimates for Cognizant Technology Solutions’ Q1 2023 earnings at $1.09 EPS, Q2 2023 earnings at $1.13 EPS, Q4 2023 earnings at $1.19 EPS, FY2023 earnings at $4.58 EPS, Q1 2024 earnings at $1.25 EPS, Q2 2024 earnings at $1.25 EPS and FY2024 earnings at $5.02 EPS.

A number of other analysts also recently weighed in on CTSH. Wedbush decreased their price target on shares of Cognizant Technology Solutions from $95.00 to $72.00 in a research report on Thursday, November 3rd. BMO Capital Markets downgraded shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $73.00 to $65.00 in a report on Thursday, November 3rd. Robert W. Baird decreased their price objective on shares of Cognizant Technology Solutions from $70.00 to $66.00 in a report on Thursday, November 3rd. Cowen downgraded shares of Cognizant Technology Solutions to a “market perform” rating and reduced their price target for the company from $86.00 to $75.00 in a report on Thursday, July 28th. Finally, Royal Bank of Canada downgraded shares of Cognizant Technology Solutions from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $78.00 to $66.00 in a report on Thursday, November 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $73.16.

Cognizant Technology Solutions Trading Up 0.8 %

CTSH opened at $59.97 on Monday. The firm has a market capitalization of $30.82 billion, a P/E ratio of 13.33, a P/E/G ratio of 1.22 and a beta of 1.05. The firm’s 50 day moving average is $59.43 and its 200-day moving average is $65.54. Cognizant Technology Solutions has a 52-week low of $51.33 and a 52-week high of $93.47. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.05.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Dark Forest Capital Management LP bought a new position in Cognizant Technology Solutions in the second quarter valued at approximately $26,000. Prospera Financial Services Inc raised its holdings in Cognizant Technology Solutions by 77.0% in the 2nd quarter. Prospera Financial Services Inc now owns 393 shares of the information technology service provider’s stock valued at $27,000 after acquiring an additional 171 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Cognizant Technology Solutions by 1,433.3% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 460 shares of the information technology service provider’s stock valued at $41,000 after acquiring an additional 430 shares in the last quarter. Valley National Advisers Inc. increased its stake in shares of Cognizant Technology Solutions by 101.3% in the 1st quarter. Valley National Advisers Inc. now owns 481 shares of the information technology service provider’s stock valued at $43,000 after purchasing an additional 242 shares during the last quarter. Finally, Neo Ivy Capital Management increased its stake in shares of Cognizant Technology Solutions by 75.6% in the 3rd quarter. Neo Ivy Capital Management now owns 504 shares of the information technology service provider’s stock valued at $29,000 after purchasing an additional 217 shares during the last quarter. 90.67% of the stock is currently owned by institutional investors.

Insider Transactions at Cognizant Technology Solutions

In related news, Director Zein Abdalla sold 4,368 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $65.44, for a total value of $285,841.92. Following the completion of the transaction, the director now directly owns 13,556 shares in the company, valued at $887,104.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cognizant Technology Solutions news, Director Leo S. Jr. Mackay sold 3,300 shares of the stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $52.79, for a total value of $174,207.00. Following the transaction, the director now owns 28,310 shares of the company’s stock, valued at $1,494,484.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Zein Abdalla sold 4,368 shares of the firm’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $65.44, for a total value of $285,841.92. Following the sale, the director now directly owns 13,556 shares in the company, valued at approximately $887,104.64. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 29th. Stockholders of record on Friday, November 18th will be issued a dividend of $0.27 per share. The ex-dividend date is Thursday, November 17th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.80%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 24.00%.

About Cognizant Technology Solutions

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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; Healthcare; Products and Resources; and Communications, Media and Technology.

See Also

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

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