Cognizant Technology Solutions (CTSH) Releases FY18 Earnings Guidance
Cognizant Technology Solutions (NASDAQ:CTSH) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of at least $4.53 for the period, compared to the Thomson Reuters consensus estimate of $4.35. The company issued revenue guidance of $16-16.3 billion, compared to the consensus revenue estimate of $16.19 billion.Cognizant Technology Solutions also updated its Q1 guidance to at least $1.04 EPS.
Shares of Cognizant Technology Solutions (CTSH) opened at $75.16 on Friday. The company has a market capitalization of $45,119.64, a price-to-earnings ratio of 29.71, a PEG ratio of 1.54 and a beta of 1.11. Cognizant Technology Solutions has a 52 week low of $56.29 and a 52 week high of $79.28. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.21.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.15. The company had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Cognizant Technology Solutions had a return on equity of 19.94% and a net margin of 10.15%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.87 EPS. research analysts predict that Cognizant Technology Solutions will post 3.94 earnings per share for the current fiscal year.
CTSH has been the topic of a number of recent analyst reports. Jefferies Group reiterated a buy rating and set a $81.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, October 12th. Cowen reiterated a buy rating and set a $80.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, October 12th. KeyCorp reiterated a buy rating and set a $79.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, October 12th. Robert W. Baird lifted their target price on Cognizant Technology Solutions from $80.00 to $90.00 and gave the stock an outperform rating in a research note on Thursday, October 19th. Finally, Barclays lifted their target price on Cognizant Technology Solutions from $80.00 to $90.00 and gave the stock an overweight rating in a research note on Monday, October 30th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. Cognizant Technology Solutions presently has an average rating of Buy and an average price target of $83.80.
In other Cognizant Technology Solutions news, insider Chandrasekaran Ramakrishnan sold 25,000 shares of Cognizant Technology Solutions stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $78.00, for a total transaction of $1,950,000.00. Following the completion of the transaction, the insider now owns 196,300 shares of the company’s stock, valued at approximately $15,311,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Malcolm Frank sold 9,462 shares of Cognizant Technology Solutions stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $70.61, for a total value of $668,111.82. Following the transaction, the vice president now directly owns 15,533 shares of the company’s stock, valued at approximately $1,096,785.13. The disclosure for this sale can be found here. Insiders have sold a total of 961,064 shares of company stock valued at $70,504,403 in the last ninety days. Insiders own 1.08% of the company’s stock.
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About Cognizant Technology Solutions
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.
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