Cognizant quarterly revenue rises 22.6 percent

Analysts expect earnings of $0.75 per share on revenues of $3.13 billion. The Insider info was disclosed with the Securities and Exchange Commission in a Form four submitting. Also, CFO Karen Mcloughlin sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $64.40, for a total value of $389,684.40. The disclosure for this sale can be found here. For the week, the shares have seen a change of 2.44% in the share price. The company has a market capitalization of $41.51 billion and a P/E ratio of 28.33. Brokerage firm CLSA upgrades its rating on Cognizant Technology Solutions Corporation (CTSH:NASDAQ). The 50-day moving average is $61.7 and the 200 day moving average is recorded at $61.32. Excluding certain items, earnings rose to 79 cents a share from 66 cents a share. The company earned $3.09 billion during the quarter, compared to analyst estimates of $3.03 billion.

Revenue was up over 6 per cent from Dollars 2.91 in the January-March quarter.

Last month, the company projected full-year adjusted earnings per share to be at least $2.93, and revenue of at least $12.24 billion. Coming into its second-quarter financial report Wednesday morning, investors wanted to see signs that Cognizant’s impressive past growth would continue, and they were curious as to which parts of the company would produce the best results and contribute the most toward Cognizant’s overall success.

A number of analysts recently weighed in on the stock.

Cognizant Technology Solutions Corp (CTSH) current short interest stands at 5.6 million shares. Shares of Cognizant Technology Solutions Corporation (CTSH:NASDAQ) ended Monday session in red amid volatile trading. Cognizant Technology Solutions Corp (CTSH) reported last quarter earnings on May 04. On a consensus basis this yields to a Buy rating. Finally, Jefferies Group restated a “buy” rating and set a $73.00 price objective (up from $63.00) on shares of Cognizant Technology Solutions Corp in a research note on Saturday, May 9th.

Cognizant Technology Solutions Corporation (Cognizant) is a provider of custom information technology, consulting and business process outsourcing services. Revenue from the health-care segment rose 29.1%. The Company is engaged in Business, Process, Operations and Information Technology Consulting, Application Development and Systems Integration, Enterprise Information Management (EIM), Application Testing, Application Maintenance, Information Technology Infrastructure Services, and Business and Knowledge Process Outsourcing, or BPO and KPO.