What is William Blair’s Forecast for CTSH FY2024 Earnings?

Cognizant Technology Solutions Co. (NASDAQ:CTSH) – William Blair lifted their FY2024 earnings per share (EPS) estimates for shares of Cognizant Technology Solutions in a report released on Wednesday, October 30th. William Blair analyst M. Nolan now anticipates that the information technology service provider will post earnings of $4.64 per share for the year, up from their prior forecast of $4.60. The consensus estimate for Cognizant Technology Solutions’ current full-year earnings is $4.66 per share.

Several other analysts also recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $73.00 to $75.00 in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $78.37.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $75.39 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. The stock has a market cap of $37.37 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 2.06 and a beta of 1.05. The firm has a 50-day moving average of $76.28 and a two-hundred day moving average of $72.16. Cognizant Technology Solutions has a 1 year low of $63.79 and a 1 year high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 earnings per share.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is 26.55%.

Institutional Trading of Cognizant Technology Solutions

Several large investors have recently made changes to their positions in CTSH. 1620 Investment Advisors Inc. acquired a new position in Cognizant Technology Solutions in the second quarter valued at approximately $25,000. Addison Advisors LLC lifted its stake in shares of Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after purchasing an additional 189 shares during the period. LRI Investments LLC purchased a new stake in Cognizant Technology Solutions during the first quarter worth $28,000. Ashton Thomas Securities LLC acquired a new stake in Cognizant Technology Solutions during the third quarter valued at $30,000. Finally, Pinnacle Bancorp Inc. increased its holdings in Cognizant Technology Solutions by 47.4% in the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after buying an additional 146 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

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.