Cognizant Technology Solutions Corp (NASDAQ:CTSH) VP Malcolm Frank sold 3,190 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $70.48, for a total transaction of $224,831.20. Following the completion of the transaction, the vice president now owns 22,881 shares of the company’s stock, valued at approximately $1,612,652.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of CTSH stock traded down $0.67 during trading on Thursday, reaching $69.35. The company’s stock had a trading volume of 404,633 shares, compared to its average volume of 3,548,485. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.06. The firm has a market cap of $40.54 billion, a PE ratio of 19.65, a P/E/G ratio of 1.51 and a beta of 0.95. Cognizant Technology Solutions Corp has a one year low of $65.14 and a one year high of $85.10.
Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Tuesday, October 30th. The information technology service provider reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.06. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.08 billion. Cognizant Technology Solutions had a net margin of 9.07% and a return on equity of 22.54%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, equities analysts predict that Cognizant Technology Solutions Corp will post 4.18 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Willingdon Wealth Management bought a new stake in Cognizant Technology Solutions during the third quarter worth $120,000. Fort L.P. bought a new stake in Cognizant Technology Solutions during the second quarter worth $123,000. Johnson Financial Group Inc. raised its position in Cognizant Technology Solutions by 2,434.4% during the third quarter. Johnson Financial Group Inc. now owns 1,622 shares of the information technology service provider’s stock worth $125,000 after acquiring an additional 1,558 shares in the last quarter. Honkamp Krueger Financial Services Inc. bought a new stake in Cognizant Technology Solutions during the third quarter worth $134,000. Finally, Stratos Wealth Partners LTD. bought a new stake in Cognizant Technology Solutions during the third quarter worth $146,000. 86.37% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on CTSH. Bank of America cut shares of Cognizant Technology Solutions from a “buy” rating to an “underperform” rating and reduced their price target for the company from $91.00 to $81.00 in a report on Tuesday, September 4th. HSBC upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. Moffett Nathanson began coverage on shares of Cognizant Technology Solutions in a report on Thursday, October 4th. They issued a “neutral” rating and a $85.00 price target for the company. JPMorgan Chase & Co. cut shares of Cognizant Technology Solutions from an “overweight” rating to a “neutral” rating and set a $66.00 price target for the company. in a report on Tuesday, August 14th. Finally, Cowen cut shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and set a $67.98 price target for the company. in a report on Sunday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $82.34.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.
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