Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) – Research analysts at William Blair issued their Q1 2023 earnings estimates for shares of Cognizant Technology Solutions in a report released on Thursday, May 5th. William Blair analyst M. Nolan forecasts that the information technology service provider will post earnings per share of $1.17 for the quarter. William Blair also issued estimates for Cognizant Technology Solutions’ Q2 2023 earnings at $1.22 EPS, Q3 2023 earnings at $1.30 EPS, Q4 2023 earnings at $1.27 EPS and FY2023 earnings at $4.96 EPS.
Several other research firms have also recently commented on CTSH. BMO Capital Markets increased their target price on Cognizant Technology Solutions from $92.00 to $100.00 in a research note on Thursday, February 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cognizant Technology Solutions from $81.00 to $92.00 and gave the stock a “hold” rating in a report on Monday, January 24th. StockNews.com raised shares of Cognizant Technology Solutions from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 3rd. The Goldman Sachs Group started coverage on Cognizant Technology Solutions in a report on Sunday, January 9th. They issued a “buy” rating and a $104.00 price objective for the company. Finally, Citigroup decreased their target price on Cognizant Technology Solutions from $95.00 to $88.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $91.67.
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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.04. The firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.83 billion. Cognizant Technology Solutions had a net margin of 11.59% and a return on equity of 19.07%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 EPS.
A number of large investors have recently made changes to their positions in CTSH. GeoWealth Management LLC acquired a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at $26,000. MV Capital Management Inc. raised its position in Cognizant Technology Solutions by 94.8% in the fourth quarter. MV Capital Management Inc. now owns 302 shares of the information technology service provider’s stock worth $27,000 after acquiring an additional 147 shares in the last quarter. Cornerstone Advisory LLC acquired a new stake in Cognizant Technology Solutions in the 4th quarter valued at about $27,000. Hardy Reed LLC bought a new position in shares of Cognizant Technology Solutions during the 1st quarter valued at about $27,000. Finally, Fieldpoint Private Securities LLC grew its stake in shares of Cognizant Technology Solutions by 475.4% in the 4th quarter. Fieldpoint Private Securities LLC now owns 397 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 328 shares during the last quarter. 90.73% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Rajesh Nambiar sold 5,000 shares of the stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maureen Breakiron-Evans sold 6,371 shares of Cognizant Technology Solutions stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $87.76, for a total transaction of $559,118.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,149 shares of company stock worth $1,434,568. Corporate insiders own 0.31% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Friday, May 20th will be paid a $0.27 dividend. The ex-dividend date is Thursday, May 19th. This represents a $1.08 annualized dividend and a dividend yield of 1.43%. Cognizant Technology Solutions’s payout ratio is currently 25.90%.
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.
- Get a free copy of the StockNews.com research report on Cognizant Technology Solutions (CTSH)
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