Cognizant Technology Solutions Corp (NASDAQ:CTSH) President Rajeev Mehta sold 20,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $71.50, for a total value of $1,430,000.00. Following the completion of the sale, the president now owns 39,457 shares of the company’s stock, valued at $2,821,175.50. The sale was disclosed in a filing with the SEC, which is available at this link.
Rajeev Mehta also recently made the following trade(s):
- On Thursday, March 7th, Rajeev Mehta sold 10,000 shares of Cognizant Technology Solutions stock. The shares were sold at an average price of $72.50, for a total value of $725,000.00.
NASDAQ:CTSH traded up $1.20 on Friday, reaching $72.13. The stock had a trading volume of 3,783,827 shares, compared to its average volume of 3,705,133. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.12 and a quick ratio of 3.12. The stock has a market cap of $41.19 billion, a P/E ratio of 17.94, a PEG ratio of 1.59 and a beta of 0.97. Cognizant Technology Solutions Corp has a 12-month low of $59.47 and a 12-month high of $85.00.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Stockholders of record on Thursday, February 21st were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, February 20th. This represents a $0.80 annualized dividend and a dividend yield of 1.11%. Cognizant Technology Solutions’s payout ratio is 19.90%.
Several hedge funds have recently modified their holdings of CTSH. Acima Private Wealth LLC bought a new position in shares of Cognizant Technology Solutions during the fourth quarter worth about $29,000. Sontag Advisory LLC bought a new position in shares of Cognizant Technology Solutions during the fourth quarter worth about $30,000. Citizens Financial Group Inc RI lifted its position in shares of Cognizant Technology Solutions by 176.5% during the fourth quarter. Citizens Financial Group Inc RI now owns 611 shares of the information technology service provider’s stock worth $39,000 after purchasing an additional 390 shares during the last quarter. Kistler Tiffany Companies LLC lifted its position in shares of Cognizant Technology Solutions by 133.5% during the fourth quarter. Kistler Tiffany Companies LLC now owns 642 shares of the information technology service provider’s stock worth $41,000 after purchasing an additional 367 shares during the last quarter. Finally, Capital Investment Advisory Services LLC bought a new position in shares of Cognizant Technology Solutions during the fourth quarter worth about $43,000. 87.23% of the stock is currently owned by institutional investors and hedge funds.
CTSH has been the subject of several recent research reports. BidaskClub upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, January 22nd. Cowen downgraded 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, December 2nd. Zacks Investment Research upgraded Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a report on Thursday, February 28th. KeyCorp increased their price target on Cognizant Technology Solutions from $79.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, February 7th. Finally, Sanford C. Bernstein raised shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Friday, January 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $81.19.
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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