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.
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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