Cognizant Technology Solutions (NASDAQ:CTSH) Announces Quarterly Earnings Results

Cognizant Technology Solutions (NASDAQ:CTSH) posted its quarterly earnings data on Wednesday. The information technology service provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05, Briefing.com reports. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period in the previous year, the business earned $1.10 EPS. Cognizant Technology Solutions’s quarterly revenue was down .7% on a year-over-year basis.

Cognizant Technology Solutions Stock Down 3.0 %

Shares of Cognizant Technology Solutions stock traded down $2.31 during trading hours on Friday, reaching $74.00. 4,043,723 shares of the company were exchanged, compared to its average volume of 4,397,573. Cognizant Technology Solutions has a 1 year low of $62.14 and a 1 year high of $80.27. The stock’s fifty day moving average is $69.35 and its 200 day moving average is $71.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.46. The firm has a market cap of $36.79 billion, a PE ratio of 17.79, a PEG ratio of 2.26 and a beta of 1.05.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio is currently 28.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Barclays boosted their target price on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Monday, June 10th. Susquehanna lowered their target price on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Finally, BMO Capital Markets lowered their target price on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating on the stock in a report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $76.12.

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.