Cognizant Technology Solutions Corp (NASDAQ:CTSH) General Counsel Sells $317,859.30 in Stock

Cognizant Technology Solutions Corp (NASDAQ:CTSH) General Counsel Matthew W. Friedrich sold 4,965 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $64.02, for a total transaction of $317,859.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Matthew W. Friedrich also recently made the following trade(s):

  • On Friday, June 14th, Matthew W. Friedrich sold 452 shares of Cognizant Technology Solutions stock. The stock was sold at an average price of $61.55, for a total transaction of $27,820.60.
  • On Tuesday, June 4th, Matthew W. Friedrich sold 3,092 shares of Cognizant Technology Solutions stock. The stock was sold at an average price of $60.61, for a total transaction of $187,406.12.

Shares of Cognizant Technology Solutions stock opened at $64.38 on Wednesday. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.12. The business has a 50-day simple moving average of $62.88. Cognizant Technology Solutions Corp has a 52 week low of $56.73 and a 52 week high of $83.35. The company has a market capitalization of $36.36 billion, a PE ratio of 16.01, a PEG ratio of 1.64 and a beta of 1.01.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Thursday, May 2nd. The information technology service provider reported $0.91 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.12). Cognizant Technology Solutions had a return on equity of 21.50% and a net margin of 12.39%. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter last year, the firm posted $0.94 earnings per share. Cognizant Technology Solutions’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that Cognizant Technology Solutions Corp will post 3.91 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of CTSH. Norges Bank bought a new stake in Cognizant Technology Solutions in the fourth quarter worth about $366,248,000. FMR LLC raised its position in Cognizant Technology Solutions by 39.0% in the fourth 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 in the last quarter. BlackRock Inc. raised its position in Cognizant Technology Solutions by 4.7% in the first quarter. BlackRock Inc. now owns 47,153,467 shares of the information technology service provider’s stock worth $3,416,269,000 after acquiring an additional 2,129,464 shares in the last quarter. Two Sigma Advisers LP raised its position in Cognizant Technology Solutions by 2,915.5% in the fourth quarter. Two Sigma Advisers LP now owns 1,627,367 shares of the information technology service provider’s stock worth $103,305,000 after acquiring an additional 1,573,400 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in Cognizant Technology Solutions by 14.9% in the fourth quarter. Nordea Investment Management AB now owns 10,187,078 shares of the information technology service provider’s stock worth $646,676,000 after acquiring an additional 1,324,213 shares in the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Several equities research analysts recently weighed in on CTSH shares. Zacks Investment Research downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Bank of America reaffirmed an “underperform” rating and issued a $57.00 price objective (down previously from $71.00) on shares of Cognizant Technology Solutions in a report on Monday, May 6th. Wells Fargo & Co downgraded shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $82.00 to $75.00 in a report on Tuesday, April 16th. Needham & Company LLC downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Finally, UBS Group reduced their price objective on shares of Cognizant Technology Solutions from $76.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the company’s stock. Cognizant Technology Solutions currently has an average rating of “Hold” and an average price target of $74.80.

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 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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Insider Buying and Selling by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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