Cognizant Tech Solutions (CTSH) Stock Lower Despite Earnings Beat
NEW YORK (TheStreet) -- Cognizant Tech Solutions (CTSH) - Get Report stock is sliding by 1.81% to $66.91 in late afternoon trading on Wednesday, after the company reported its 2015 third quarter earnings results.
The information-technology provider reported earnings of 76 cents per share for the most recent quarter, up from 66 cents per share for the year ago period.
Revenue increased by 23.5% to $3.19 billion, up from $2.58 billion for the 2014 third quarter.
Analysts had forecast for earnings of 76 cents per share on revenue of $3.16 billion.
Cognizant expects full-year 2015 earnings of $3.03 per share on revenue of at least $12.41 billion, up from its prior forecast for earnings of $3 per share on revenue of $12.33 billion.
"We experienced another quarter of strong performance, building on our solid momentum in the first half of the year with continued broad-based demand across key industries and geographies we serve," CEO Francisco D'Souza said in a statement.
Separately, TheStreet Ratings team rates COGNIZANT TECH SOLUTIONS as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
We rate COGNIZANT TECH SOLUTIONS (CTSH) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, solid stock price performance and growth in earnings per share. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity.
You can view the full analysis from the report here: CTSH
data by
Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.