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Cognizant Technology Solutions Topped Q1 EPS Estimates, Top Line Surged 43% (CTSH)May 03, 2011 (SmarTrend(R) News Watch via COMTEX) -- Cognizant Technology Solutions (NASDAQ:CTSH) reported Q1 EPS of $0.71, ex-items, ahead of consensus estimates of $0.63 per share. Revenues for the quarter rose 42.9% year-over-year to $1.37 billion, in line with consensus estimates of $1.37 billion. The company sees Q2 EPS of $0.70, vs. consensus estimates of $0.66 per share, on revenues of at least $1.45 billion, vs. consensus estimates of $1.43 billion. For 2011, it sees EPS of $2.91, up from $2.68 per share, vs. consensus estimates of $2.74 per share, on revenues of at least $5.925 billion, up from $5.79 billion, vs. consensus estimates of $5.9 billion. "We are pleased with yet another quarter of solid growth as we continue to benefit from a strong demand environment," said Francisco D'Souza, President and Chief Executive Officer of Cognizant. "During this time of significant secular change impacting our clients, we continue to enhance our competitive differentiation, namely our trusted client relationships, our deep domain expertise, and our 'born global' delivery network. Cognizant is uniquely positioned to help clients both operate and improve existing processes and infrastructure as well as transform their businesses to adapt to new virtualized business models, new mobile and social technologies and a new generation of 'born digital' workers and consumers." Cognizant Technology Solutions has a potential upside of 3.8% based on a current price of $82.21 and an average consensus analyst price target of $85.35. Cognizant Technology Solutions is currently above its 50-day moving average (MA) of $78.59 and above its 200-day of $69.36. In the last five trading sessions, the 50-day MA has climbed 0.42% while the 200-day MA has risen 0.62%. Cognizant Technology Solutions Corporation provides custom Information Technology (IT) consulting and technology services as well as outsourcing services. The Company's core competencies include technology strategy consulting, complex systems development, enterprise software package implementation and maintenance, data warehousing and business intelligence. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |