Cognizant (CTSH) Executive Compensation Points to 16% Revenue Growth

December 4, 2012 5:55 PM EST
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Price: $56.65 -1.24%

Rating Summary:
    21 Buy, 11 Hold, 2 Sell

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    Up: 23 | Down: 34 | New: 34
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Shares of Cognizant Technology Solutions (NASDAQ: CTSH) are on the move after-hours on Tuesday after a research note from analysts at Wells Fargo pointed toward 16 percent revenue growth. The analysis is based on executive compensation data released in an 8-k filing.

"CTSH released (after the close on December 4th) its much anticipated 8-k filing detailing an executive compensation plan that is based on revenue growth in the coming year. Historically, this release has been a good indication of the initial 2013 guidance management will provide on the CQ4 call in February," said analyst Edward S. Caso.

"While below current Street/Our (17%/18%) expectations, most we have spoken to recently expected CTSH to start the guidance process conservatively given the current slow pace of discretionary spending, in part driven by the weakness in Europe and 'fiscal cliff' uncertainty," continued Caso.

Wells Fargo has an Outperform rating on Cognizant Technology Solutions (NASDAQ: CTSH) with a price target of $75 to $78.

For an analyst ratings summary and ratings history on Cognizant Technology Solutions click here. For more ratings news on Cognizant Technology Solutions click here.

Shares of Cognizant Technology Solutions closed at $66.98 yesterday.

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