NEW YORK (TheStreet) -- Cognizant Technology Solutions (CTSH - Get Report)  shares are down 0.16% to $57.45 on Thursday afternoon ahead of the company's 2016 first quarter earnings set to be released on Friday before the market open. 

Year-over-year, profit and revenue are expected to increase.  

For the recent period, Wall Street is looking for earnings of 79 cents a share on revenue of $3.23 billion.

A year ago, the company earned 71 cents a share on revenue of $2.9 billion. 

The company will likely benefit from robust demand for high quality, lower cost technology services particularly in the outsourcing market, Zacks analysts said. 

However, shifts in industries like financial services may dampen results. 

As of 3:45 p.m., more than 5.1 million shares had changed hands, above the company's average trading volume of about 4.2 million shares. 

Based in Teaneck, NJ, Cognizant Technology Solutions provides information technology (IT), consulting, and business process services worldwide.

Separately, TheStreet Ratings currently has a "Buy" rating on the stock with a letter grade of B+.

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, growth in earnings per share and increase in net income. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.

You can view the full analysis from the report here: CTSH