Q3 2024 EPS Estimates for Cognizant Technology Solutions Co. (NASDAQ:CTSH) Lowered by William Blair

Cognizant Technology Solutions Co. (NASDAQ:CTSH) – Investment analysts at William Blair decreased their Q3 2024 earnings estimates for shares of Cognizant Technology Solutions in a research note issued to investors on Wednesday, September 11th. William Blair analyst M. Nolan now anticipates that the information technology service provider will post earnings per share of $1.14 for the quarter, down from their previous forecast of $1.15. The consensus estimate for Cognizant Technology Solutions’ current full-year earnings is $4.62 per share. William Blair also issued estimates for Cognizant Technology Solutions’ Q4 2024 earnings at $1.17 EPS and FY2024 earnings at $4.60 EPS.

Other research analysts have also issued reports about the stock. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. Barclays raised their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. The Goldman Sachs Group reissued a “neutral” rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a report on Thursday. Finally, Robert W. Baird raised their price target on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and a consensus price target of $77.44.

Cognizant Technology Solutions Stock Up 0.0 %

Cognizant Technology Solutions stock opened at $76.31 on Friday. Cognizant Technology Solutions has a 1-year low of $62.14 and a 1-year high of $80.27. The firm has a market capitalization of $37.94 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 2.13 and a beta of 1.05. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. The firm has a 50 day simple moving average of $74.49 and a 200 day simple moving average of $71.54.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter last year, the business posted $1.10 EPS. Cognizant Technology Solutions’s quarterly revenue was down .7% compared to the same quarter last year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Tuesday, August 20th. Cognizant Technology Solutions’s payout ratio is presently 28.85%.

Insider Buying and Selling

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the transaction, the chief executive officer now owns 46,427 shares in the company, valued at approximately $3,419,812.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cognizant Technology Solutions

Hedge funds have recently modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new position in shares of Cognizant Technology Solutions during the second quarter valued at about $25,000. LRI Investments LLC bought a new stake in Cognizant Technology Solutions during the first quarter worth about $28,000. Neo Ivy Capital Management bought a new stake in Cognizant Technology Solutions during the fourth quarter worth about $40,000. Benjamin Edwards Inc. boosted its stake in Cognizant Technology Solutions by 42.1% during the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after acquiring an additional 158 shares in the last quarter. Finally, Unique Wealth Strategies LLC bought a new stake in Cognizant Technology Solutions during the second quarter worth about $40,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

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.