Cognizant Technology Solutions Corporation (NASDAQ:CTSH) – Investment analysts at Wedbush increased their Q3 2017 EPS estimates for shares of Cognizant Technology Solutions Corporation in a research report issued to clients and investors on Monday. Wedbush analyst M. Katri now anticipates that the information technology service provider will post earnings per share of $0.85 for the quarter, up from their previous estimate of $0.84. Wedbush currently has a “Outperform” rating on the stock. Wedbush also issued estimates for Cognizant Technology Solutions Corporation’s Q4 2017 earnings at $0.89 EPS and Q1 2018 earnings at $0.90 EPS.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the previous year, the company posted $0.87 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. ILLEGAL ACTIVITY WARNING: This news story was first reported by Daily Political and is owned by of Daily Political. If you are reading this news story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://www.dailypolitical.com/2017/09/20/q3-2017-eps-estimates-for-cognizant-technology-solutions-corporation-raised-by-wedbush-ctsh.html.

Several other brokerages have also commented on CTSH. Vetr upgraded Cognizant Technology Solutions Corporation from a “sell” rating to a “buy” rating and set a $76.85 target price for the company in a research report on Tuesday. Bank of America Corporation reissued a “buy” rating and issued a $86.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Tuesday, September 12th. KeyCorp reissued a “buy” rating and issued a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Friday, September 8th. Robert W. Baird reaffirmed a “buy” rating and set a $80.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Sunday, September 10th. Finally, Zacks Investment Research lowered Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Cognizant Technology Solutions Corporation currently has an average rating of “Buy” and an average target price of $72.51.

Cognizant Technology Solutions Corporation (CTSH) opened at 72.50 on Wednesday. The firm has a market capitalization of $42.82 billion, a P/E ratio of 23.26 and a beta of 1.14. The company has a 50-day moving average price of $70.75 and a 200-day moving average price of $65.41. Cognizant Technology Solutions Corporation has a one year low of $45.44 and a one year high of $73.00.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in Cognizant Technology Solutions Corporation by 3,470.1% during the first quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock worth $2,425,316,000 after purchasing an additional 39,606,526 shares during the period. Vanguard Group Inc. grew its holdings in Cognizant Technology Solutions Corporation by 3.5% during the first quarter. Vanguard Group Inc. now owns 40,545,109 shares of the information technology service provider’s stock worth $2,413,246,000 after purchasing an additional 1,379,271 shares during the period. FMR LLC grew its holdings in Cognizant Technology Solutions Corporation by 81.6% during the second quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock worth $1,664,366,000 after purchasing an additional 11,262,360 shares during the period. State Street Corp grew its holdings in Cognizant Technology Solutions Corporation by 1.8% during the first quarter. State Street Corp now owns 24,267,262 shares of the information technology service provider’s stock worth $1,444,391,000 after purchasing an additional 435,142 shares during the period. Finally, Edgewood Management LLC grew its holdings in Cognizant Technology Solutions Corporation by 3.9% during the first quarter. Edgewood Management LLC now owns 14,706,635 shares of the information technology service provider’s stock worth $875,339,000 after purchasing an additional 557,035 shares during the period. Institutional investors own 87.59% of the company’s stock.

In other news, President Rajeev Mehta sold 34,437 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $72.54, for a total value of $2,498,059.98. Following the completion of the transaction, the president now owns 170,063 shares in the company, valued at approximately $12,336,370.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $73.00, for a total value of $1,825,000.00. Following the completion of the transaction, the insider now owns 286,923 shares of the company’s stock, valued at approximately $20,945,379. The disclosure for this sale can be found here. In the last quarter, insiders have sold 275,756 shares of company stock valued at $19,685,771. Corporate insiders own 1.08% of the company’s stock.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend was Friday, August 18th. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is presently 19.17%.

About Cognizant Technology Solutions Corporation

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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

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