Cognizant probes graft charges as senior executive quits

Revenue guidance will see revision Rajeev Mehta

Analysts had expected Cognizant Technology Solutions Corp (NASDAQ:CTSH) to report earnings of about $0.82 per share on $3,373.29M in revenue. Cantor Fitzgerald reaffirmed a "buy" rating and set a $68.00 price objective on shares of Cognizant Technology Solutions Corp.in a report on Wednesday, September 7th. In terms of price action, Cognizant Technology Solutions Corporation (CTSH) traded down $0.1 during the session at $54.3. The one-year price target of $66.81 is higher than the opening price of $55.16, that has caused a fair amount of other analysts to report on the company in recent days. Combining all the ratings on Cognizant Technology Solutions Corporation (NASDAQ:CTSH), the current mean is sitting at 1.63. HSBC assumed coverage on Cognizant Technology Solutions Corp.in a report on Friday. The 52 week high Cognizant Technology Solutions Corp.'s shares have peaked at is 69.8 whilst the 52 week low for the company's shares is 45.44. The stock has earnings growth of -39.40% yoy and showed a high EPS growth of 17.40% over the past five years. The stock is now trading down its SMA 50 of $56.23.

08/08/2016 - Cognizant Technology Solutions Corporation had its "buy" rating reiterated by analysts at Needham & Company. For the prior quarter revenue for the stock hit $3.2B, with EPS at $0.8.

These professional investors retain teams of analysts researching thousands of stocks, so it is good validation to see them buying a stock you are considering. Higher EPS estimate that can be reached in this quarter is determined at $0.39 and lower forecasted EPS is placed at $0.05. In comparison, peer companies Accenture (ACN), Infosys (INFY), and Computer Sciences (CSC) have market caps of $77 billion, $36 billion, and $7 billion, respectively. According to the SEC, on Aug 9, 2016, Karen Mcloughlin (Chief Financial Officer) sold 20,000 shares at $60.00 per share price.

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The company has voluntarily informed the US Department of Justice and US Securities and Exchange Commission about the suspected payments. The stock has relative volume of 1.17. The stock was sold at an average price of $58.50, for a total value of $73,008.00.

As Chief Executive Officer, IT Services at Cognizant, Raj was responsible for market-facing activities across the company in addition to for delivery across Cognizant's IT Services business. The disclosure for this sale can be found here.

Shares of Cognizant Technology Solutions Corp. The stock was sold at an average price of $58.57, for a total value of $5,857,000.00. The last trading range of the stock ranges between $41.76 and $42.79. Wedbush Securities Inc. increased its stake in shares of Cognizant Technology Solutions Corp.by 0.4% in the second quarter. Exane Derivatives now owns 2,278 shares of the information technology service provider's stock valued at $130,000 after buying an additional 416 shares in the last quarter. Institutional investors own 87.00% of the company's stock. Cognizant Technology Solutions Corporation is in the Business Software & Services industry and Technology sector.