On Friday, Shares of Cognizant Technology Solutions Corporation (NASDAQ: CTSH) showed the bullish trend with a higher momentum of 0.84% and ended its trading session at $80.56. The company traded total volume of 1.65M shares as contrast to its average volume of 3.49M shares. The company has a market value of $47.29B and about 587.00M shares outstanding. During the 52-week trading session, the minimum price at which share price traded was registered at $66.05 and reached the max level of $85.10.
Cognizant Technology Solutions Corp. (CTSH) stated first-quarter earnings of $520.0M. The Teaneck, New Jersey-based company said it had net income of 88 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were $1.06 per share. The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.
The information technology consulting and outsourcing firm posted revenue of $3.91B in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $3.90B. For the current quarter ending in July, Cognizant anticipates its per-share earnings to be $1.09. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.12.
The company said it anticipates revenue in the range of $4.0B to $4.04B for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $4.02B.
Cognizant anticipates full-year earnings to be $4.47 per share, with revenue ranging from $16.05B to $16.30B.
The Company offered net profit margin of 9.70% while its gross profit margin was 39.70%. ROE was recorded as 13.60% while beta factor was 1.03. The stock, as of recent close, has shown the weekly upbeat performance of 1.95% which was maintained at 13.43% in this year.