Cognizant Technology Solutions (NASDAQ:CTSH) Releases Earnings Results, Beats Expectations By $0.09 EPS

Cognizant Technology Solutions (NASDAQ:CTSH) issued its earnings results on Wednesday. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09, Zacks reports. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH traded up $0.06 during trading hours on Wednesday, hitting $83.60. The company had a trading volume of 4,777,613 shares, compared to its average volume of 2,806,028. Cognizant Technology Solutions has a fifty-two week low of $63.79 and a fifty-two week high of $83.97. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $79.25 and a 200-day simple moving average of $77.41. The firm has a market cap of $41.45 billion, a P/E ratio of 18.50, a price-to-earnings-growth ratio of 2.21 and a beta of 1.07.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. TD Cowen upped their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. UBS Group upped their price target on Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Mizuho upped their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Seventeen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $81.39.

Insiders Place Their Bets

In other news, CAO John Sunshin Kim sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the transaction, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by corporate insiders.

About Cognizant Technology Solutions

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.