Cognizant Technology Solutions Corp (CTSH) EVP Sells $69,943.43 in Stock

Cognizant Technology Solutions Corp (NASDAQ:CTSH) EVP James Patrick Lennox sold 977 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $71.59, for a total transaction of $69,943.43. Following the transaction, the executive vice president now owns 3,889 shares in the company, valued at $278,413.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

James Patrick Lennox also recently made the following trade(s):

  • On Monday, March 4th, James Patrick Lennox sold 1,081 shares of Cognizant Technology Solutions stock. The stock was sold at an average price of $71.73, for a total transaction of $77,540.13.
  • On Wednesday, January 2nd, James Patrick Lennox sold 2,878 shares of Cognizant Technology Solutions stock. The stock was sold at an average price of $63.35, for a total transaction of $182,321.30.

Shares of NASDAQ:CTSH traded up $1.20 during mid-day trading on Friday, reaching $72.13. 3,783,827 shares of the company traded hands, compared to its average volume of 3,705,133. The company has a market cap of $41.19 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.59 and a beta of 0.97. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions Corp has a 52 week low of $59.47 and a 52 week high of $85.00.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 6th. The information technology service provider reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.07. Cognizant Technology Solutions had a return on equity of 22.15% and a net margin of 13.03%. The company had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same period in the previous year, the firm earned $1.03 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. Equities research analysts predict that Cognizant Technology Solutions Corp will post 4.46 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Investors of record on Thursday, February 21st were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, February 20th. This represents a $0.80 dividend on an annualized basis and a yield of 1.11%. Cognizant Technology Solutions’s dividend payout ratio is presently 19.90%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Davis R M Inc. raised its holdings in shares of Cognizant Technology Solutions by 7.2% during the 4th quarter. Davis R M Inc. now owns 343,102 shares of the information technology service provider’s stock worth $21,780,000 after acquiring an additional 22,923 shares in the last quarter. Alpha Windward LLC raised its holdings in Cognizant Technology Solutions by 13.9% during the 4th quarter. Alpha Windward LLC now owns 2,099 shares of the information technology service provider’s stock valued at $133,000 after buying an additional 256 shares during the period. Naples Global Advisors LLC raised its holdings in Cognizant Technology Solutions by 14.7% during the 4th quarter. Naples Global Advisors LLC now owns 11,950 shares of the information technology service provider’s stock valued at $774,000 after buying an additional 1,535 shares during the period. LGT Capital Partners LTD. raised its holdings in Cognizant Technology Solutions by 5.3% during the 4th quarter. LGT Capital Partners LTD. now owns 282,791 shares of the information technology service provider’s stock valued at $17,952,000 after buying an additional 14,166 shares during the period. Finally, Edgewood Management LLC raised its holdings in Cognizant Technology Solutions by 1.4% during the 3rd quarter. Edgewood Management LLC now owns 18,390,315 shares of the information technology service provider’s stock valued at $1,418,813,000 after buying an additional 252,411 shares during the period. 87.23% of the stock is currently owned by institutional investors.

A number of brokerages have recently issued reports on CTSH. BMO Capital Markets upgraded shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research report on Wednesday, February 6th. KeyCorp boosted their price target on Cognizant Technology Solutions from $79.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, February 7th. Daiwa Capital Markets assumed coverage on Cognizant Technology Solutions in a research note on Wednesday, February 13th. They set a “buy” rating and a $90.00 price target for the company. Zacks Investment Research downgraded Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research note on Monday, February 11th. Finally, BidaskClub downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, February 23rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus target price of $81.19.

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About Cognizant Technology Solutions

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 analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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