Cognizant: An Excellent Buy

Aug. 5.09 | About: Cognizant Technology (CTSH)

My Buy List continues to roll. Cognizant Technology Solutions (NASDAQ:CTSH) just reported a huge earnings beat, plus it guided higher. For the second quarter, CTSH earned 50 cents a share which is an amazing 13 cents over estimates.(Call Transcript)

The company now sees Q3 coming in at 44 cents per share, five cents above consensus. For all of 2009, Cognizant expects EPS of $1.80 versus Wall Street’s consensus of $1.54.

These numbers are great. Shares of CTSH were up by as much as 10% yesterday, and it’s up over 83% for the year. The stock is an excellent buy.

Disclosure: Long CTSH