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Cognizant (CTSH) Beats on Q3 Earnings and Revenues

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Headquartered in Teaneck, NJ, Cognizant Technology Solutions Corp (CTSH - Free Report) is a leading provider of information technology, consulting and business process outsourcing services. The company was spun off from Dun & Bradstreet in 1996 and went public in Jun 1998.

Cognizant primarily serves four domains: Financial Services, Healthcare, Manufacturing, Retail and Logistics and Other (includes Communications, Information, Media & Entertainment and High Technology).

Zacks Rank: Currently, Cognizant has a Zacks Rank#4 (Sell) but that could change following its third quarter 2016 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.

We have highlighted some of the key details from the just-released announcement below:

Earnings: Cognizant reported adjusted earnings of 76 cents a share, beating the Zacks Consensus Estimate of 75 cents.

Revenue: Revenues of $3.453 billion were almost in line with the Zacks Consensus Estimate of $3.449 billion. Sales grew 8.4% year over year.

Key Stats: Cognizant’s net headcount addition in the quarter stood was 11,500.

COGNIZANT TECH Price and Consensus


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