Headquartered in Teaneck, NJ, Cognizant Technology Solutions Corp (NASDAQ:CTSH) is a leading provider of information technology, consulting and business process outsourcing services. The company was spun off from Dun & Bradstreet (NYSE:DNB) 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#3 (Hold) but that could change following its second quarter 2016 earnings report which has just released.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Cognizant reported adjusted earnings of 80 cents a share, beating the Zacks Consensus Estimate of 73 cents.
Revenue: Revenues of $3.370 billion were almost in line with the Zacks Consensus Estimate of $3.371 billion. Sales grew 9.2% year over year.
Key Stats: Cognizant reaffirmed its non-GAAP earnings guidance for 2016 at $3.32 to $3.44 but lowered its revenue outlook to a range of $13.47 billion to $13.60 billion compared with the earlier projection of $13.65 billion to $14.0 billion.
Stock Movement: Shares prices did not show any movement in the pre-market trading session.
Check back later for our full write up on this CTSH earnings report later!
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COGNIZANT TECH (CTSH): Free Stock Analysis Report
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