Gajakarnan Vibushanan Kandiah Sells 1,526 Shares of Cognizant Technology Solutions Corp (CTSH) Stock

Cognizant Technology Solutions Corp (NASDAQ:CTSH) insider Gajakarnan Vibushanan Kandiah sold 1,526 shares of Cognizant Technology Solutions stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $72.13, for a total value of $110,070.38. Following the transaction, the insider now directly owns 13,963 shares in the company, valued at $1,007,151.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Gajakarnan Vibushanan Kandiah also recently made the following trade(s):

  • On Monday, February 4th, Gajakarnan Vibushanan Kandiah sold 1,208 shares of Cognizant Technology Solutions stock. The shares were sold at an average price of $71.23, for a total value of $86,045.84.
  • On Thursday, January 24th, Gajakarnan Vibushanan Kandiah sold 168 shares of Cognizant Technology Solutions stock. The shares were sold at an average price of $68.03, for a total value of $11,429.04.
  • On Friday, January 18th, Gajakarnan Vibushanan Kandiah sold 500 shares of Cognizant Technology Solutions stock. The shares were sold at an average price of $68.03, for a total value of $34,015.00.
  • On Thursday, December 13th, Gajakarnan Vibushanan Kandiah sold 1,654 shares of Cognizant Technology Solutions stock. The shares were sold at an average price of $69.00, for a total value of $114,126.00.

NASDAQ:CTSH traded up $0.77 during trading hours on Friday, reaching $71.70. The stock had a trading volume of 55,717 shares, compared to its average volume of 3,683,118. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.12 and a quick ratio of 3.12. Cognizant Technology Solutions Corp has a 52 week low of $59.47 and a 52 week high of $85.10. The company has a market cap of $41.19 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 1.59 and a beta of 0.97.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, February 6th. The information technology service provider reported $1.13 earnings per share (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 business had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. As a group, analysts anticipate that Cognizant Technology Solutions Corp will post 4.46 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Thursday, February 21st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Wednesday, February 20th. Cognizant Technology Solutions’s payout ratio is 19.90%.

A number of research analysts have recently weighed in on CTSH shares. Goldman Sachs Group raised Cognizant Technology Solutions from a “neutral” rating to a “buy” rating in a research report on Monday, November 26th. Zacks Investment Research cut Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research report on Friday, February 22nd. KeyCorp lifted their price objective on Cognizant Technology Solutions from $79.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, February 7th. Loop Capital set a $94.00 target price on Cognizant Technology Solutions and gave the company a “buy” rating in a research note on Monday, November 19th. Finally, Sanford C. Bernstein raised Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Friday, January 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus target price of $81.19.

A number of large investors have recently added to or reduced their stakes in CTSH. Norges Bank bought a new stake in Cognizant Technology Solutions in the 4th quarter worth approximately $366,248,000. Oregon Public Employees Retirement Fund increased its stake in Cognizant Technology Solutions by 6,171.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,052,309 shares of the information technology service provider’s stock worth $64,000 after acquiring an additional 3,987,693 shares during the last quarter. FMR LLC increased its stake in Cognizant Technology Solutions by 39.0% in the 4th quarter. FMR LLC now owns 12,939,775 shares of the information technology service provider’s stock worth $821,416,000 after acquiring an additional 3,632,452 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Cognizant Technology Solutions by 4.4% in the 3rd quarter. BlackRock Inc. now owns 44,745,894 shares of the information technology service provider’s stock worth $3,452,146,000 after purchasing an additional 1,900,423 shares during the period. Finally, Commonwealth Bank of Australia boosted its holdings in shares of Cognizant Technology Solutions by 1,273.4% in the 3rd quarter. Commonwealth Bank of Australia now owns 2,009,285 shares of the information technology service provider’s stock worth $154,871,000 after purchasing an additional 1,862,983 shares during the period. 87.23% of the stock is currently owned by institutional investors and hedge funds.

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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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