Cognizant Technology Solutions Co. (NASDAQ:CTSH) Expected to Post Q1 2024 Earnings of $1.12 Per Share

Cognizant Technology Solutions Co. (NASDAQ:CTSHFree Report) – Equities research analysts at Wedbush issued their Q1 2024 earnings estimates for Cognizant Technology Solutions in a research report issued on Tuesday, February 6th. Wedbush analyst M. Katri forecasts that the information technology service provider will post earnings of $1.12 per share for the quarter. Wedbush currently has a “Outperform” rating and a $85.00 price target on the stock. The consensus estimate for Cognizant Technology Solutions’ current full-year earnings is $4.60 per share. Wedbush also issued estimates for Cognizant Technology Solutions’ Q2 2024 earnings at $1.15 EPS, Q3 2024 earnings at $1.16 EPS, Q4 2024 earnings at $1.17 EPS and FY2025 earnings at $4.93 EPS.

CTSH has been the topic of a number of other reports. JPMorgan Chase & Co. cut their price objective on Cognizant Technology Solutions from $77.00 to $72.00 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. Societe Generale reissued a “sell” rating and set a $67.00 price objective on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Citigroup lifted their price target on shares of Cognizant Technology Solutions from $76.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Redburn Atlantic began coverage on shares of Cognizant Technology Solutions in a report on Thursday, November 16th. They issued a “neutral” rating and a $68.00 price target for the company. Finally, Jefferies Financial Group raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and raised their target price for the company from $70.00 to $85.00 in a research report on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $75.43.

View Our Latest Stock Report on Cognizant Technology Solutions

Cognizant Technology Solutions Price Performance

NASDAQ CTSH opened at $78.00 on Thursday. The company has a 50 day simple moving average of $74.97 and a 200-day simple moving average of $70.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.23 and a quick ratio of 2.23. Cognizant Technology Solutions has a 52-week low of $56.45 and a 52-week high of $78.93. The firm has a market capitalization of $39.11 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 1.94 and a beta of 1.08.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.04 by $0.14. The firm had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.76 billion. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.97%. Cognizant Technology Solutions’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share.

Institutional Investors Weigh In On Cognizant Technology Solutions

Large investors have recently made changes to their positions in the business. Turtle Creek Wealth Advisors LLC bought a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at $26,000. NBC Securities Inc. purchased a new stake in Cognizant Technology Solutions in the 3rd quarter worth $27,000. Spire Wealth Management raised its stake in Cognizant Technology Solutions by 79.1% during the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 193 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Cognizant Technology Solutions by 272.1% in the second quarter. China Universal Asset Management Co. Ltd. now owns 573 shares of the information technology service provider’s stock worth $37,000 after buying an additional 419 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its stake in Cognizant Technology Solutions by 43.2% in the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock worth $44,000 after purchasing an additional 178 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

About Cognizant Technology Solutions

(Get Free Report)

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.

Further Reading

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

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