William Blair Analysts Reduce Earnings Estimates for Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Cognizant Technology Solutions Co. (NASDAQ:CTSH) – Investment analysts at William Blair reduced their Q3 2024 EPS estimates for shares of Cognizant Technology Solutions in a note issued to investors on Thursday, November 2nd. William Blair analyst M. Nolan now expects that the information technology service provider will post earnings of $1.09 per share for the quarter, down from their previous estimate of $1.21. The consensus estimate for Cognizant Technology Solutions’ current full-year earnings is $4.41 per share. William Blair also issued estimates for Cognizant Technology Solutions’ FY2024 earnings at $4.45 EPS and FY2025 earnings at $4.72 EPS.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, November 1st. The information technology service provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.08. Cognizant Technology Solutions had a net margin of 10.75% and a return on equity of 17.63%. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.91 billion. During the same period in the previous year, the company posted $1.17 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year.

Several other equities analysts have also recently commented on CTSH. BMO Capital Markets lowered their price target on shares of Cognizant Technology Solutions from $78.00 to $73.00 and set a “market perform” rating on the stock in a report on Friday. Barclays boosted their price target on shares of Cognizant Technology Solutions from $53.00 to $61.00 and gave the company an “underweight” rating in a report on Tuesday, July 25th. StockNews.com initiated coverage on shares of Cognizant Technology Solutions in a report on Thursday, October 5th. They set a “buy” rating on the stock. Royal Bank of Canada upped their price objective on shares of Cognizant Technology Solutions from $66.00 to $74.00 and gave the stock a “sector perform” rating in a report on Thursday, August 3rd. Finally, Citigroup raised shares of Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and increased their target price for the stock from $72.00 to $80.00 in a research report on Friday, October 20th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $68.87.

Cognizant Technology Solutions Trading Up 4.1 %

Cognizant Technology Solutions stock opened at $66.27 on Monday. The company’s fifty day simple moving average is $68.14 and its 200-day simple moving average is $65.97. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions has a 12 month low of $51.44 and a 12 month high of $72.71. The stock has a market cap of $33.47 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.65 and a beta of 1.08.

Institutional Investors Weigh In On Cognizant Technology Solutions

Hedge funds have recently made changes to their positions in the stock. MV Capital Management Inc. lifted its stake in shares of Cognizant Technology Solutions by 98.1% in the first quarter. MV Capital Management Inc. now owns 410 shares of the information technology service provider’s stock valued at $25,000 after buying an additional 203 shares during the period. NBC Securities Inc. bought a new stake in shares of Cognizant Technology Solutions in the third quarter valued at about $27,000. Northwest Bank & Trust Co bought a new stake in shares of Cognizant Technology Solutions in the second quarter valued at about $33,000. Vigilant Capital Management LLC bought a new stake in shares of Cognizant Technology Solutions in the first quarter valued at about $37,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Cognizant Technology Solutions by 272.1% in the second quarter. China Universal Asset Management Co. Ltd. now owns 573 shares of the information technology service provider’s stock valued at $37,000 after buying an additional 419 shares during the period. Institutional investors own 90.77% of the company’s stock.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Tuesday, November 21st will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Monday, November 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.22%.

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.