Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) issued its earnings results on Thursday. The information technology service provider reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.01, Briefing.com reports. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.78 billion. Cognizant Technology Solutions had a return on equity of 19.55% and a net margin of 12.11%. Cognizant Technology Solutions's quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.10 earnings per share. Cognizant Technology Solutions updated its Q1 2023 guidance to EPS.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH traded up $1.82 during trading on Thursday, hitting $70.66. The company's stock had a trading volume of 5,871,030 shares, compared to its average volume of 5,322,224. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average price of $60.23 and a 200 day moving average price of $61.81. The firm has a market cap of $36.31 billion, a P/E ratio of 15.62, a price-to-earnings-growth ratio of 1.30 and a beta of 1.07. Cognizant Technology Solutions has a 52 week low of $51.33 and a 52 week high of $93.47.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, Director Leo S. Jr. Mackay sold 3,300 shares of Cognizant Technology Solutions stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $52.79, for a total value of $174,207.00. Following the transaction, the director now directly owns 28,310 shares of the company's stock, valued at approximately $1,494,484.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.34% of the company's stock.

Institutional Trading of Cognizant Technology Solutions

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CTSH. TheStreet raised Cognizant Technology Solutions from a "c+" rating to a "b-" rating in a report on Tuesday. Bank of America cut Cognizant Technology Solutions from a "neutral" rating to an "underperform" rating and set a $57.00 price target on the stock. in a report on Monday, January 9th. Morgan Stanley upped their price target on Cognizant Technology Solutions from $60.00 to $65.00 and gave the company an "equal weight" rating in a report on Friday, January 27th. StockNews.com began coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, October 12th. They set a "buy" rating on the stock. Finally, Robert W. Baird cut their target price on shares of Cognizant Technology Solutions from $70.00 to $66.00 in a research note on Thursday, November 3rd. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of "Hold" and an average target price of $69.20.

About Cognizant Technology Solutions

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Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services, Healthcare, Products and Resources, and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.

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