RTTNews | Oct 29, 2020 09:47AM EDT

09:47 Thursday, October 29, 2020 (RTTNews.com) - Shares of Cognizant (CTSH) reached a 52-week high of $76.45 today, and are currently trading at $75.40, up $4.30 or 6.05% in the Thursday's regular trading session, with trading volume rising over 1.18 million versus an average volume of 3.08 million shares.

The company reported third-quarter net income of $348 million or $0.64 per share, down from $497 million or $0.90 per share last year.

Adjusted earnings for the quarter were $0.97 per share, down from $1.08 per share last year. Analysts polled by Thomson Reuters expected earnings of $0.90 per share for the quarter. Analysts' estimate typically exclude certain special items.

Revenues for the quarter dropped slightly to $4.24 billion from $4.25 billion last year.

Looking forward, Cognizant expects full-year 2020 revenues to be at the high end of the previously guided range at about $16.7 billion. Adjusted earnings are now expected to between $3.63 and $3.67 per share, an increase from prior guidance of $3.48 - $3.58 per share. Wall Street analysts estimate earnings of $3.54 per share and revenue of $16.55 billion for the quarter.

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