Cognizant Technology Solutions Corp (CTSH) reported quarterly earnings results on Friday, Aug-5-2016. The company said it had a profit of $0.87 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.82. The company posted revenue of $3369.90 million in the period, compared to analysts expectations of $3372.35 million. The company’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS.
Many Wall Street Analysts have commented on Cognizant Technology Solutions Corp. Pacific Crest Initiated Cognizant Technology Solutions Corp on Jul 12, 2016 to “Overweight”, Price Target of the shares are set at $69.Cognizant Technology Solutions Corp was Downgraded by SunTrust to ” Neutral” on Jul 12, 2016.
Cognizant Technology Solutions Corp opened for trading at $58.22 and hit $58.965 on the upside on Thursday, eventually ending the session at $58.77, with a gain of 1.07% or 0.62 points. The heightened volatility saw the trading volume jump to 50,96,850 shares. Company has a market cap of $35,607 M.
In a different news, on Jul 29, 2016, Francisco Dsouza (Chief Executive Officer) sold 200,000 shares at $57.69 per share price. According to the SEC, on Jun 22, 2016, Karen Mcloughlin (Chief Financial Officer) sold 8,018 shares at $61.13 per share price. On Jun 9, 2016, Malcolm Frank (Exec. VP, Strategy & Marketing) sold 583 shares at $60.60 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.