2/9/2010-Shares of Cognizant Technology Solutions (NASDAQ:CTSH) are trading 2.4% higher to $44.80 premarket Tuesday after the company reported Q4 EPS of $0.47, edging out consensus estimates of $0.46.

Revenues for the quarter rose 20% year-over-year to $902.7 million, topping consensus estimates of $888.4 million.

The company expects Q1 EPS of $0.52, ex-items, on revenues of at least $935 million, versus consensus estimates of $0.47 on revenues of $912.6 million. For fiscal 2010, the company expects EPS of $2.19, ex-items, on revenues of at least $3.94 billion, versus consensus estimates of $2.01 on revenuses of $3.92 billion.

Francisco D'Souza, President and CEO of Cognizant, commented, "Despite a very difficult economy, Cognizant delivered strong results with 16% annual revenue growth. The investments we made in our business leave us in an even stronger position than when we entered 2009. During the year, we grew our workforce by more than 16,700 people, improved our employee utilization, strengthened our client partnerships, and brought new services and capabilities to market. We believe Cognizant is set to deliver robust performance in 2010 and will continue to set new standards for our industry."

Contact Chip Brian

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.TradeTheTrend.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 www.TradeTheTrend.com/signup.html