Cognizant Technology Solutions CorporationNASDAQ
Mon, Nov. 28, 3:13 PM
Mon, Nov. 28, 1:17 PM
- Earlier: Cognizant Technology Solutions +8.7% pre-market, Elliot Management outlines enhancement plan in letter to board
- Analyst Anil Doradla notes Elliot Management's points are consistent with investor demands of Cognizant (NASDAQ:CTSH) and his firm's downgrade on shares of the company last week.
- Nonetheless, despite the resulting 7%+ gains on today's session and value-enhancing intentions, Doradla suggests substantial work is required to achieve stated goals and consequently remains unmoved on rating due to expected volatility on awaited clarity of longer-term strategy.
Mon, Nov. 28, 8:52 AM
- Elliot Management retains more than 4% (approximately $1.4B market value) ownership of Cognizant Technology Solutions (NASDAQ:CTSH).
- Notes underperformance across various segments in spite of lead positioning and suggests potential for $80-$90 per share price level (current $57.90) by year-end 2017.
- Full letter
Wed, Nov. 23, 9:58 AM
- Analyst Anil Doradla moves from Outperform, citing projected industry headwinds and disappointment over lack of capital returns.
- Cognizant Technology Solutions (NASDAQ:CTSH) is off 1.5% early, bringing losses to 5% on the week term.
- Yesterday: Cognizant Technology Solutions downgraded to Underperform at Bank of America Merrill Lynch
Tue, Nov. 22, 1:38 PM
- Price target adjusted accordingly from $66 to $48.
- Analyst David Ridley-Lane attributes risk involving potential H-1B visa program modifications, a slowing growth profile and restricted prospects for revenue acceleration in 2017.
- Cognizant Technology Solutions (NASDAQ:CTSH) shares are lower by 3.41% on the day to $53.22.
Fri, Nov. 18, 8:28 AM
- Bernstein calls Mastercard (NYSE:MA) its top pick in the payments sector on an expectation for "clean" earnings in 2017.
- Visa (NYSE:V) is a called a close second, although the investment firm warns on some muddied reporting waters due to the integration of Visa Europe..
- Automatic Data Processing (NASDAQ:ADP) and Coginzant Technology Solutions Corporation (NASDAQ:CTSH) rank third and fourth in the Bernstein payments sector ranking. Paychex (NASDAQ:PAYX) is at the bottom of the list.
- Source: Bloomberg
Mon, Nov. 7, 9:00 AM
- Results – revenue $3.45B (+8.4% Y/Y, +2.5% Q/Q, in-line), EPS $0.86 ($0.02 above estimates), operating margin 19.3%, headcount addition 11.5K
- Q4 projections – revenue $3.45B-$3.51B (consensus $3.52B), EPS $0.85-$0.88 (consensus $0.86)
- FY 2016 projections – revenue $13.47B-$13.53B (consensus $13.55B), EPS $3.38-$3.41 (consensus $3.37)
- Cognizant Technology Solutions (NASDAQ:CTSH) CEO Francisco D'Souza: "We see ongoing client demand for our services across industries and geographies. As the physical and digital worlds converge, we have made it easier for clients to work with us by aligning our organizational structure and capabilities around the broader focus of assisting clients drive digital transformations. Our new President, Raj Mehta, who has been a key member of our senior leadership team for two decades, and the broader team of executives are leading our strategic initiatives. They have a proven track record of innovation, execution and an unwavering focus on client service and satisfaction."
- Share price summary – 1-month, +7%; 3-month, -8%; 1-year, -21%
- Prior quarters overview
- Conference call
- Press release
- 10-Q (updates on improper payments investigation; "material weakness" exists though no adjustments, restatements or revisions to already issued financial statements required)
Mon, Nov. 7, 6:03 AM
Sun, Nov. 6, 5:30 PM| Sun, Nov. 6, 5:30 PM | 5 Comments
Thu, Oct. 13, 2:59 PM
- Cognizant Technology Solutions (NASDAQ:CTSH) is up 2.3% while Infosys (NASDAQ:INFY) is higher by 4.2% subsequent Tata Consultancy Services posting better-than-projected Q3 profit despite "caution among customers", "holdbacks in discretionary spending" and other industry headwinds. Lower revenue, however, is considered indicative of increasing competition and rigorous market conditions.
- Infosys to report Q2 results early tomorrow, Cognizant expected to report on November 2.
Mon, Oct. 3, 3:16 PM
- Deutsche Bank doesn't expect Friday's payments and management change developments to majorly alter Cognizant's (CTSH +5.3%) fundamental position.
- Analyst Bryan Keane anticipates the company to maintain guidance in its upcoming Q3 report.
- Firm "would be aggressively buying shares at these levels" as it keeps Cognizant with a $69 target (current price $50.23).
Fri, Sep. 30, 3:00 PM
Fri, Sep. 30, 2:28 PM
- Cognizant Technology Solutions (CTSH -11.7%) shares have been hit hard throughout the day on the developments.
- Needham & Company note: "Given the early stage and scarcity of detail on the payments investigation, it does not currently alter our forward-looking view of the stock, but we will continue to monitor the situation. We attribute the fall in the stock today more to the investigation than the resignation itself, though investors may be concerned that the two events are related."
- Price target of $68 (current price $48.56) retained.
Fri, Sep. 30, 12:50 PM
Fri, Sep. 30, 9:37 AM
- Cognizant Technology Solutions (CTSH -10.3%) additionally announces resignation of Gordon Coburn from the company's President role and his replacement, Rajeev Mehta.
- Regarding internal inquiry, Cognizant declares it's "...conducting an internal investigation into whether certain payments relating to facilities in India were made improperly and in possible violation of the U.S. Foreign Corrupt Practices Act and other applicable laws."
- Low number of company facilities stated to be involved.
- United States Department of Justice and SEC notified.
- Predictions regarding outcome of investigation and possible impact on company health not offered.
Fri, Sep. 30, 9:15 AM