Cognizant Technology Solutions Corp reports results for the quarter ended June 30 - Earnings Summary

• Cognizant Technology Solutions Corp CTSH.OQ reported quarterly adjusted earnings of $1.31​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of $1.17. The mean expectation of twenty one analysts for the quarter was for earnings of $1.26 per share. Wall Street expected results to range from $1.24 to $1.29 per share.

• Revenue rose 8.1% to $5.25 billion from a year ago; analysts expected $5.19 billion.

• Cognizant Technology Solutions Corp's reported EPS for the quarter was $1.31​.

• The company reported quarterly net income of $645 million.

• Cognizant Technology Solutions Corp shares had fallen by 4.0% this quarter and lost 2.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 2% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 9 "strong buy" or "buy," 17 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the it services & consulting peer group is "buy."

• Wall Street's median 12-month price target for Cognizant Technology Solutions Corp is $85.00, about 11.9% above its last closing price of $74.91

This summary was machine generated from LSEG data July 30 at 09:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)