Cognizant Technology Solutions Co. to Post Q3 2024 Earnings of $1.16 Per Share, William Blair Forecasts (NASDAQ:CTSH)

Cognizant Technology Solutions Co. (NASDAQ:CTSH) – Equities researchers at William Blair cut their Q3 2024 earnings per share (EPS) estimates for shares of Cognizant Technology Solutions in a report issued on Thursday, August 1st. William Blair analyst M. Nolan now anticipates that the information technology service provider will post earnings of $1.16 per share for the quarter, down from their previous forecast of $1.20. The consensus estimate for Cognizant Technology Solutions’ current full-year earnings is $4.65 per share. William Blair also issued estimates for Cognizant Technology Solutions’ Q2 2025 earnings at $1.18 EPS, Q3 2025 earnings at $1.22 EPS and Q4 2025 earnings at $1.26 EPS.

A number of other brokerages have also recently commented on CTSH. Mizuho restated a “neutral” rating and set a $82.00 price target on shares of Cognizant Technology Solutions in a research note on Tuesday, June 11th. BMO Capital Markets cut their price target on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. The Goldman Sachs Group began coverage on shares of Cognizant Technology Solutions in a report on Monday, June 24th. They set a “neutral” rating and a $72.00 price objective for the company. Royal Bank of Canada boosted their target price on Cognizant Technology Solutions from $77.00 to $81.00 and gave the stock a “sector perform” rating in a report on Thursday, August 1st. Finally, StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $76.12.

Cognizant Technology Solutions Trading Up 1.3 %

Cognizant Technology Solutions stock opened at $72.65 on Monday. Cognizant Technology Solutions has a 12 month low of $62.14 and a 12 month high of $80.27. The stock has a market cap of $36.12 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 2.26 and a beta of 1.05. The business has a 50 day moving average price of $69.42 and a two-hundred day moving average price of $71.79. The company has a quick ratio of 2.35, a current ratio of 2.46 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted 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 for the quarter, compared to analyst estimates of $4.80 billion. During the same period last year, the business posted $1.10 EPS. The business’s quarterly revenue was down .7% on a year-over-year basis.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Institutional Investors Weigh In On Cognizant Technology Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at about $26,000. 1620 Investment Advisors Inc. bought a new stake in Cognizant Technology Solutions in the 2nd quarter valued at approximately $25,000. LRI Investments LLC bought a new stake in shares of Cognizant Technology Solutions in the first quarter worth $28,000. Spire Wealth Management lifted its position in shares of Cognizant Technology Solutions by 79.1% in the fourth quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 193 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Cognizant Technology Solutions in the 4th quarter valued at $40,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.