Excluding items, the company’s earnings surged to $0.76 per share from $0.66 per share.
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Cognizant Technology Solutions Corp. reported a better-than-expected 24% jump in revenue on another strong quarter in the company’s health-care segment.
Its revenue surged to $3.19 billion from $2.58 billion. Revenue from the company’s financial services business, its biggest, rose 18.6% to $1.28 billion. Cognizant Technology Solutions Corporation (CTSH) has a weekly performance of – 0.180% and EPS growth this year of 16.30%. The stock has a market capitalization of $41.53 billion and a P/E ratio of 27.48. Finally, Barclays upped their price objective on shares of Cognizant Technology Solutions Corp from $75.00 to $82.00 and gave the company an overweight rating in a research note on Wednesday, October 14th. During the year, the lowest price at which share is traded was $52.17 and hit the highest price at $78.53. The ratio increased, as 51 funds sold all Cognizant Technology Solutions Corp shares owned while 307 reduced positions.
Over the past 5 years, Cognizant along with larger Indian rival TCS has set the benchmark for the sector, grabbing market share away from former bellwether firms Infosys and Wipro, who during the same period faced a decline in their fortunes that eventually prompted massive organizational overhauls at both Bangalore-based firms.
Out of 22 analysts covering Cognizant Technology Solutions Corp. The shares were sold at an average price of $61.76, for a total transaction of $398,104.96. This represents a 1.977% difference between analyst expectations and the Cognizant Tech Solutions Class A achieved in its quarterly earnings. Zacks raised shares of Cognizant Technology Solutions Corp from a sell rating to a hold rating in a research report on Monday, August 10th. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Mcloughlin Karen sold 1,393 shares worth $88,804.
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The company provides information technology (IT), consulting, and business process services worldwide. The Company is engaged in Business, Process, Operations and Information Technology Consulting, Application Development and Systems Integration, Enterprise Information Management (EIM), Application Testing, Application Maintenance, Information Technology Infrastructure Services, and Business and Knowledge Process Outsourcing, or BPO and KPO. The Firm operates in four divisions: Financial Services segment, which include banking and insurance; Healthcare segment, which includes healthcare and life sciences, and Manufacturing/Retail/Logistics segment, which includes manufacturing and logistics; retail, travel and hospitality, and consumer goods and Other segment, which includes Communications, Manufacturing/Retail/Logistics, and High Technology.
