Q4 2024 EPS Estimates for Cognizant Technology Solutions Co. (NASDAQ:CTSH) Lifted by William Blair

Cognizant Technology Solutions Co. (NASDAQ:CTSH) – William Blair upped their Q4 2024 earnings estimates for Cognizant Technology Solutions in a research report issued to clients and investors on Thursday, May 2nd. William Blair analyst M. Nolan now expects that the information technology service provider will post earnings of $1.16 per share for the quarter, up from their prior estimate of $1.14. The consensus estimate for Cognizant Technology Solutions’ current full-year earnings is $4.60 per share.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.01. The firm had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.11 EPS.

CTSH has been the topic of several other reports. Guggenheim assumed coverage on shares of Cognizant Technology Solutions in a report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 target price on the stock. Citigroup cut their target price on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Evercore ISI lifted their price target on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. Susquehanna dropped their price objective on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $85.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $75.67.

Cognizant Technology Solutions Stock Down 0.0 %

CTSH stock opened at $66.25 on Monday. Cognizant Technology Solutions has a 52 week low of $60.26 and a 52 week high of $80.09. The business has a 50-day simple moving average of $72.31 and a 200 day simple moving average of $72.55. The company has a quick ratio of 2.25, a current ratio of 2.35 and a debt-to-equity ratio of 0.04. The company has a market cap of $32.98 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.51 and a beta of 1.08.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Monday, May 20th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio is currently 28.85%.

Insiders Place Their Bets

In other news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the sale, the executive vice president now owns 8,312 shares of the company’s stock, valued at $640,522.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Cognizant Technology Solutions

Large investors have recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at $26,000. NBC Securities Inc. acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at about $27,000. Spire Wealth Management boosted its position in shares of 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 in the last quarter. Neo Ivy Capital Management acquired a new stake in Cognizant Technology Solutions during the fourth quarter worth approximately $40,000. Finally, Quarry LP bought a new stake in Cognizant Technology Solutions in the fourth quarter worth approximately $43,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Company Profile

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.