Cognizant Technology Solutions (NASDAQ:CTSH) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Cognizant Technology Solutions (NASDAQ:CTSH) released its quarterly earnings data on Wednesday. The information technology service provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05, Briefing.com reports. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. Cognizant Technology Solutions’s revenue was down .7% compared to the same quarter last year. During the same period last year, the firm posted $1.10 earnings per share.

Cognizant Technology Solutions Trading Up 0.8 %

Shares of CTSH stock traded up $0.63 during mid-day trading on Thursday, hitting $76.31. The company’s stock had a trading volume of 6,667,962 shares, compared to its average volume of 4,153,237. Cognizant Technology Solutions has a 52 week low of $62.14 and a 52 week high of $80.27. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. The company’s fifty day simple moving average is $69.08 and its 200-day simple moving average is $71.87. The company has a market cap of $37.94 billion, a PE ratio of 18.34, a P/E/G ratio of 2.27 and a beta of 1.05.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Citigroup lowered their price target on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada raised their price objective on Cognizant Technology Solutions from $77.00 to $81.00 and gave the company a “sector perform” rating in a report on Thursday. The Goldman Sachs Group started coverage on Cognizant Technology Solutions in a report on Monday, June 24th. They issued a “neutral” rating and a $72.00 target price for the company. Finally, BMO Capital Markets cut their price target on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Cognizant Technology Solutions currently 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.