Cognizant Technology Solutions (NASDAQ:CTSH) Releases FY22 Earnings Guidance

Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) issued an update on its FY22 earnings guidance on Wednesday morning. The company provided EPS guidance of $4.45-4.55 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.56. The company issued revenue guidance of $19.8-20.2 billionn, compared to the consensus revenue estimate of $20.29 billion.

CTSH opened at $84.36 on Thursday. The business has a 50 day simple moving average of $87.44 and a two-hundred day simple moving average of $85.01. The firm has a market capitalization of $44.25 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 1.47 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.08 and a quick ratio of 2.08. Cognizant Technology Solutions has a one year low of $66.19 and a one year high of $93.47.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The information technology service provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Cognizant Technology Solutions had a return on equity of 19.00% and a net margin of 11.55%. The business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same quarter in the prior year, the company posted $0.97 EPS. Cognizant Technology Solutions’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts expect that Cognizant Technology Solutions will post 4.57 EPS for the current fiscal year.

Several brokerages have recently issued reports on CTSH. Cowen increased their target price on Cognizant Technology Solutions from $93.00 to $98.00 in a research report on Thursday, February 3rd. BMO Capital Markets upped their price target on Cognizant Technology Solutions from $92.00 to $100.00 in a research note on Thursday, February 3rd. Morgan Stanley downgraded Cognizant Technology Solutions from an overweight rating to an equal weight rating and upped their price target for the stock from $91.00 to $95.00 in a research note on Monday, January 10th. Barclays increased their target price on Cognizant Technology Solutions from $78.00 to $85.00 and gave the company an underweight rating in a research note on Monday, February 7th. Finally, StockNews.com upgraded Cognizant Technology Solutions from a buy rating to a strong-buy rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Cognizant Technology Solutions has an average rating of Buy and an average price target of $91.67.

In related news, insider Rajesh Nambiar sold 5,000 shares of Cognizant Technology Solutions stock in a transaction dated Friday, February 11th. The stock was sold at an average price of $90.50, for a total value of $452,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Leo S. Jr. Mackay sold 4,778 shares of the business’s stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $88.52, for a total value of $422,948.56. The disclosure for this sale can be found here. Insiders sold 16,149 shares of company stock worth $1,434,568 over the last ninety days. Insiders own 0.31% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. NEXT Financial Group Inc raised its stake in Cognizant Technology Solutions by 71.7% in the fourth quarter. NEXT Financial Group Inc now owns 764 shares of the information technology service provider’s stock worth $68,000 after buying an additional 319 shares in the last quarter. EverSource Wealth Advisors LLC bought a new position in Cognizant Technology Solutions in the fourth quarter worth approximately $79,000. Belpointe Asset Management LLC raised its stake in Cognizant Technology Solutions by 11.3% in the fourth quarter. Belpointe Asset Management LLC now owns 1,750 shares of the information technology service provider’s stock worth $155,000 after buying an additional 178 shares in the last quarter. Covington Capital Management raised its stake in Cognizant Technology Solutions by 6.9% in the fourth quarter. Covington Capital Management now owns 1,804 shares of the information technology service provider’s stock worth $160,000 after buying an additional 117 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new position in Cognizant Technology Solutions in the fourth quarter worth approximately $202,000. 90.73% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Company Profile (Get Rating)

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; Healthcare; Products and Resources; and Communications, Media and Technology.

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