Cognizant Technology Solutions Co. Forecasted to Post Q4 2024 Earnings of $1.16 Per Share (NASDAQ:CTSH)

Cognizant Technology Solutions Co. (NASDAQ:CTSH) – Investment analysts at William Blair boosted their Q4 2024 EPS estimates for Cognizant Technology Solutions in a report issued on Thursday, May 2nd. William Blair analyst M. Nolan now anticipates that the information technology service provider will earn $1.16 per share for the quarter, up from their previous estimate of $1.14. The consensus estimate for Cognizant Technology Solutions’ current full-year earnings is $4.60 per share.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.11 by $0.01. The business had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.11 earnings per share.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets dropped their target price 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. Royal Bank of Canada lifted their price objective on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 7th. Mizuho started coverage on Cognizant Technology Solutions in a research note on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 target price on the stock. Evercore ISI raised their price target on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. cut their price objective on Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $75.67.

Cognizant Technology Solutions Stock Down 0.0 %

Shares of NASDAQ CTSH opened at $66.25 on Monday. The company has a current ratio of 2.35, a quick ratio of 2.25 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average of $72.31 and a 200-day moving average of $72.55. The firm has a market capitalization of $32.98 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.51 and a beta of 1.08. Cognizant Technology Solutions has a 12 month low of $60.26 and a 12 month high of $80.09.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.20 annualized dividend and a yield of 1.81%. Cognizant Technology Solutions’s payout ratio is currently 28.85%.

Insider Activity

In related news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the transaction, the executive vice president now directly owns 8,312 shares of the company’s stock, valued at $640,522.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.27% of the company’s stock.

Institutional Trading of Cognizant Technology Solutions

Several large investors have recently modified their holdings of the business. IFG Advisory LLC lifted its holdings in Cognizant Technology Solutions by 45.1% in the 4th quarter. IFG Advisory LLC now owns 67,119 shares of the information technology service provider’s stock worth $5,070,000 after buying an additional 20,874 shares during the period. Qube Research & Technologies Ltd lifted its stake in Cognizant Technology Solutions by 36.0% in the third quarter. Qube Research & Technologies Ltd now owns 1,227,411 shares of the information technology service provider’s stock worth $83,145,000 after acquiring an additional 324,638 shares during the period. PGGM Investments boosted its holdings in Cognizant Technology Solutions by 53.8% in the third quarter. PGGM Investments now owns 74,411 shares of the information technology service provider’s stock valued at $5,041,000 after acquiring an additional 26,035 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Cognizant Technology Solutions by 110.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,344,587 shares of the information technology service provider’s stock valued at $91,082,000 after purchasing an additional 704,932 shares during the period. Finally, Perigon Wealth Management LLC raised its holdings in Cognizant Technology Solutions by 4.4% in the 4th quarter. Perigon Wealth Management LLC now owns 4,743 shares of the information technology service provider’s stock worth $358,000 after purchasing an additional 199 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

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.