The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion.
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GAIL was among the gainers, rising ahead of the company’s December quarter earnings which are expected to be above estimates, traders said.
Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at 54.05 on Tuesday.
Cognizant Technology Solutions (CTSH) reported fourth quarter EPS of $0.69 Monday morning, compared to $0.59 in the prior year period.
Cognizant had forecast its revenues for the fourth quarter to be at least Dollars 3.23 billion and USD 12.41 billion for 2015 (higher by at least 21 per cent year-on-year).
Cognizant Technologies said its first quarter will be light relative to expectations amid growing signs that IT spending is slowing. “In addition, this strong cash flow allowed us to repurchase during the year over $375 million of our shares under our existing stock repurchase program, reflecting our commitment to drive shareholder value”. Following the completion of the transaction, the president now directly owns 110,222 shares of the company’s stock, valued at $6,808,412.94.
A number of equities research analysts have commented on the stock.
The healthcare unit has led Cognizant’s growth in the past year, driven by its $2.7 billion acquisition of U.S. healthcare IT services provider TriZetto Corp and the implementation of the U.S. Affordable Care Act, or Obamacare.
Is Wall Street Bullish or Bearish about Cognizant Technology Solutions Corp? Beacon Trust Co. now owns 5,025 shares of the information technology service provider’s stock valued at $302,000 after buying an additional 685 shares in the last quarter.
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In a conference call with investors and analysts, Chief Executive Francisco D’Souza said the company would see a “slow start” to the year because some banking and financial services customers had put projects “on hold”. Headquartered in Teaneck, New Jersey (U.S.), Cognizant combines a passion for client satisfaction, technology innovation, deep industry and business process expertise, and a global, collaborative workforce that embodies the future of work.
