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TEANECK, N.J. -- Information technology and outsourcing company Cognizant Technology Solutions Corp. said Tuesday its second-quarter profit and sales grew as companies turned to its services to save money.

The company earned $141.3 million, or 47 cents per share, up 36 percent from $103.9 million, or 35 cents per share, in the same period a year earlier.

Revenue rose 13 percent to $776.6 million from $685.4 million.

Analysts, on average, were expecting a profit of 37 cents per share on sales of $762 million, according to a poll by Thomson Reuters.

"Large corporations are seeking us out to streamline global delivery, rationalize costs and create new business capabilities," said Francisco D'Souza, president and CEO, in a statement.

The company expects third-quarter earnings of 40 cents per share on sales of at least $800 million.

Analysts are predicting a profit of 39 cents per share on sales of $780.7 million.

For the full year, the company expects earnings of at least $1.66 per share on sales of at least $3.14 billion.

Analysts expect a profit of $1.54 per share on sales of $3.1 billion.

Earlier Tuesday the stock hit a 52-week high of $33.51. It recently changed hands at $33.02, up 8.4 percent, or $2.56.

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