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

Cognizant Technology Solutions (NASDAQ:CTSH) announced 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. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the company posted $1.10 earnings per share. The business’s revenue was down .7% on a year-over-year basis.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH traded up $0.63 during mid-day trading on Thursday, reaching $76.31. 6,667,962 shares of the company traded hands, compared to its average volume of 4,153,237. Cognizant Technology Solutions has a fifty-two week low of $62.14 and a fifty-two week high of $80.27. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35. The firm has a market cap of $37.94 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05. The stock has a fifty day simple moving average of $69.08 and a 200-day simple moving average of $71.87.

Analysts Set New Price Targets

CTSH has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price target on Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Barclays increased their target price on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. BMO Capital Markets decreased their price objective 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. The Goldman Sachs Group assumed coverage on Cognizant Technology Solutions in a report on Monday, June 24th. They set a “neutral” rating and a $72.00 price target for the company. Finally, Mizuho reiterated a “neutral” rating and issued a $82.00 target price on shares of Cognizant Technology Solutions in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company 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.