Cognizant Technology Solutions (NASDAQ:CTSH) Announces Earnings Results

Cognizant Technology Solutions (NASDAQ:CTSH) announced its quarterly earnings results on Wednesday. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05, Briefing.com reports. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 EPS.

Cognizant Technology Solutions Trading Up 0.8 %

CTSH traded up $0.63 during mid-day trading on Thursday, reaching $76.31. The stock had a trading volume of 6,667,962 shares, compared to its average volume of 4,153,237. The stock has a market capitalization of $37.94 billion, a P/E ratio of 18.34, a P/E/G ratio of 2.27 and a beta of 1.05. Cognizant Technology Solutions has a 52 week low of $62.14 and a 52 week high of $80.27. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. The firm’s fifty day simple moving average is $69.08 and its two-hundred day simple moving average is $71.87.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CTSH. BMO Capital Markets dropped their price target on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a research report on Tuesday, April 30th. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Monday, June 10th. 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 report on Monday, April 22nd. StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, Mizuho reissued a “neutral” rating and set a $82.00 price objective on shares of Cognizant Technology Solutions in a report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average target price of $76.12.

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.