Insider Selling: Cognizant Technology Solutions Corp (NASDAQ:CTSH) General Counsel Sells $29,059.08 in Stock

Cognizant Technology Solutions Corp (NASDAQ:CTSH) General Counsel Matthew W. Friedrich sold 452 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $64.29, for a total value of $29,059.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

  • On Wednesday, September 4th, Matthew W. Friedrich sold 3,104 shares of Cognizant Technology Solutions stock. The shares were sold at an average price of $62.23, for a total value of $193,161.92.
  • On Wednesday, July 3rd, Matthew W. Friedrich sold 4,965 shares of Cognizant Technology Solutions stock. The shares were sold at an average price of $64.02, for a total value of $317,859.30.

Shares of CTSH opened at $63.47 on Friday. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $35.35 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.47 and a beta of 1.07. The stock’s fifty day simple moving average is $62.47 and its 200 day simple moving average is $65.66. Cognizant Technology Solutions Corp has a twelve month low of $56.73 and a twelve month high of $77.87.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.93 by $0.01. Cognizant Technology Solutions had a return on equity of 20.52% and a net margin of 12.61%. The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same period last year, the company posted $1.05 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. Sell-side analysts predict that Cognizant Technology Solutions Corp will post 3.96 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 22nd were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Wednesday, August 21st. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 19.90%.

Several analysts have commented on CTSH shares. UBS Group downgraded Cognizant Technology Solutions from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $62.00 to $60.00 in a research note on Friday, August 2nd. ValuEngine downgraded Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research note on Monday. Barclays assumed coverage on Cognizant Technology Solutions in a research note on Friday. They set an “underweight” rating and a $64.00 price objective for the company. TheStreet raised Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a research note on Tuesday, July 23rd. Finally, Zacks Investment Research downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating and set a $66.00 target price for the company. in a research note on Thursday, September 5th. Six research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus target price of $74.00.

A number of large investors have recently added to or reduced their stakes in the business. National Asset Management Inc. grew its stake in shares of Cognizant Technology Solutions by 2.7% during the first quarter. National Asset Management Inc. now owns 6,787 shares of the information technology service provider’s stock valued at $492,000 after acquiring an additional 181 shares in the last quarter. Citizens Financial Group Inc RI grew its stake in shares of Cognizant Technology Solutions by 35.3% during the second quarter. Citizens Financial Group Inc RI now owns 716 shares of the information technology service provider’s stock valued at $46,000 after acquiring an additional 187 shares in the last quarter. NEXT Financial Group Inc grew its stake in shares of Cognizant Technology Solutions by 18.9% during the second quarter. NEXT Financial Group Inc now owns 1,184 shares of the information technology service provider’s stock valued at $75,000 after acquiring an additional 188 shares in the last quarter. Anchor Capital Advisors LLC grew its stake in shares of Cognizant Technology Solutions by 1.6% during the second quarter. Anchor Capital Advisors LLC now owns 12,215 shares of the information technology service provider’s stock valued at $774,000 after acquiring an additional 190 shares in the last quarter. Finally, Bank Hapoalim BM grew its stake in shares of Cognizant Technology Solutions by 5.4% during the second quarter. Bank Hapoalim BM now owns 3,715 shares of the information technology service provider’s stock valued at $235,000 after acquiring an additional 190 shares in the last quarter. 91.45% of the stock is currently owned by institutional investors.

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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