Actionable news
All posts from Actionable news
Actionable news in CTSH: Cognizant Technology Solutions Corporation,

Cognizant Off 5%: Bulls Delighted with Margins; Big Banks Still a Drag

Shares of Cognizant Technology Solutions (CTSH) are down $4.09, or 5.4%, at $71.58, after the company this morning reported Q3 revenue in line with analysts’ expectations, and beat by a couple pennies on the bottom line, and forecast the current quarter’s results in line with consensus, but saw growth held back by a continued decline in spending by big banks on older stuff, something that’s been an issue in prior quarters.

The early response from the Street is delight with the company’s reported 20% operating profit margin....