Cognizant Technology Solutions Co. Expected to Post FY2024 Earnings of $4.60 Per Share (NASDAQ:CTSH)

Cognizant Technology Solutions Co. (NASDAQ:CTSHFree Report) – Research analysts at Wedbush decreased their FY2024 EPS estimates for shares of Cognizant Technology Solutions in a research note issued on Tuesday, February 6th. Wedbush analyst M. Katri now expects that the information technology service provider will post earnings per share of $4.60 for the year, down from their previous forecast of $4.79. Wedbush currently has a “Outperform” rating and a $85.00 target price on the stock. The consensus estimate for Cognizant Technology Solutions’ current full-year earnings is $4.60 per share.

A number of other equities research analysts have also recently commented on the company. Societe Generale reissued a “sell” rating and issued a $67.00 price objective on shares of Cognizant Technology Solutions in a research note on Friday, January 5th. Mizuho started coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, January 30th. They set a “neutral” rating and a $82.00 price target for the company. BMO Capital Markets dropped their price objective on shares of Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of Cognizant Technology Solutions from $77.00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, November 2nd. Finally, UBS Group started coverage on shares of Cognizant Technology Solutions in a report on Tuesday, November 7th. They issued a “neutral” rating and a $70.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $75.43.

Read Our Latest Stock Analysis on Cognizant Technology Solutions

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $77.10 on Friday. The stock has a 50-day moving average of $75.25 and a 200-day moving average of $70.85. Cognizant Technology Solutions has a one year low of $56.45 and a one year high of $78.93. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.25 and a quick ratio of 2.23. The company has a market cap of $38.66 billion, a PE ratio of 18.36, a P/E/G ratio of 1.94 and a beta of 1.08.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.14. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The business had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same period last year, the company posted $1.01 earnings per share. The business’s quarterly revenue was down 1.7% on a year-over-year basis.

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.20 annualized dividend and a yield of 1.56%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. Cognizant Technology Solutions’s payout ratio is currently 27.62%.

Institutional Investors Weigh In On Cognizant Technology Solutions

Several large investors have recently made changes to their positions in the business. D.A. Davidson & CO. bought a new stake in Cognizant Technology Solutions in the first quarter worth about $256,000. Canada Pension Plan Investment Board lifted its stake in Cognizant Technology Solutions by 84.4% in the first quarter. Canada Pension Plan Investment Board now owns 269,207 shares of the information technology service provider’s stock valued at $24,140,000 after purchasing an additional 123,220 shares during the last quarter. Cetera Investment Advisers grew its holdings in Cognizant Technology Solutions by 9.4% during the first quarter. Cetera Investment Advisers now owns 17,774 shares of the information technology service provider’s stock valued at $1,594,000 after purchasing an additional 1,523 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of Cognizant Technology Solutions in the first quarter valued at $239,000. Finally, Brighton Jones LLC lifted its position in shares of Cognizant Technology Solutions by 18.7% during the 1st quarter. Brighton Jones LLC now owns 3,484 shares of the information technology service provider’s stock valued at $312,000 after buying an additional 550 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Company Profile

(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.

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

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