Cognizant Technology Solutions Corp (CTSH) Releases Earnings Results, Beats Expectations By $0.01 EPS

Cognizant Technology Solutions Corp (CTSH) reported quarterly earnings results on Friday, May-6-2016. The company said it had a profit of $0.80 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.79. The company posted revenue of $3202.00 million in the period, compared to analysts expectations of $3225.11 million. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS.

Many Wall Street Analysts have commented on Cognizant Technology Solutions Corp. Shares were Reiterated by RBC Capital Mkts on Feb 9, 2016 to “Outperform” and Lowered the Price Target to $ 68 from a previous price target of $75 .Shares were Reiterated by Needham on Feb 9, 2016 to “Buy” and Lowered the Price Target to $ 70 from a previous price target of $78 .Shares were Reiterated by Barclays on Feb 9, 2016 to “Overweight” and Lowered the Price Target to $ 70 from a previous price target of $75 .

Cognizant Technology Solutions Corp closed down -0.11 points or -0.19% at $57.54 with 50,61,443 shares getting traded on Wednesday. Post opening the session at $57.2, the shares hit an intraday low of $57 and an intraday high of $57.83 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Apr 11, 2016, Karen Mcloughlin (Chief Financial Officer) sold 880 shares at $61.01 per share price. According to the SEC, on Apr 6, 2016, Chandrasekaran Ramakrishnan (Ex. Vice Chairman, Cog. India) sold 17,036 shares at $62.50 per share price. On Mar 28, 2016, Steven Schwartz (EVP, Chief Legal & CAO.) sold 12,296 shares at $60.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Cognizant Technology Solutions Corporation is a provider of information technology (IT) consulting and business process services. The Company operates in four segments: 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. The Companies competencies include business process operations and IT consulting application development and systems integration enterprise information management (EIM) application testing application maintenance IT infrastructure services (IT IS) and business process services (BPS). It provides a range of consulting information technology and outsourcing services including consulting and technology services and outsourcing services.

Cognizant Technology Solutions Corp

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