John Nelson Fox, Jr. Sells 4,400 Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) Stock

Cognizant Technology Solutions Corp (NASDAQ:CTSH) Director John Nelson Fox, Jr. sold 4,400 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $69.32, for a total value of $305,008.00. Following the transaction, the director now directly owns 36,287 shares of the company’s stock, valued at $2,515,414.84. The sale was disclosed in a filing with the SEC, which is available at this link.

Shares of CTSH stock traded up $0.59 during mid-day trading on Wednesday, hitting $70.72. 3,158,009 shares of the company’s stock were exchanged, compared to its average volume of 3,753,741. Cognizant Technology Solutions Corp has a fifty-two week low of $40.01 and a fifty-two week high of $71.81. The stock has a 50-day simple moving average of $67.06 and a two-hundred day simple moving average of $57.42. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.22. The stock has a market cap of $38.35 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 1.77 and a beta of 1.20.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, July 29th. The information technology service provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.14. Cognizant Technology Solutions had a return on equity of 19.87% and a net margin of 9.67%. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The business’s revenue was down 3.4% on a year-over-year basis. As a group, analysts anticipate that Cognizant Technology Solutions Corp will post 3.55 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Thursday, August 20th. Cognizant Technology Solutions’s payout ratio is currently 22.06%.

Institutional investors have recently modified their holdings of the stock. TCF National Bank boosted its holdings in Cognizant Technology Solutions by 217.1% in the second quarter. TCF National Bank now owns 15,014 shares of the information technology service provider’s stock valued at $951,000 after acquiring an additional 10,279 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Cognizant Technology Solutions by 13.8% in the first quarter. JPMorgan Chase & Co. now owns 911,279 shares of the information technology service provider’s stock valued at $42,347,000 after acquiring an additional 110,717 shares during the last quarter. Chartwell Investment Partners LLC raised its position in Cognizant Technology Solutions by 14.4% in the second quarter. Chartwell Investment Partners LLC now owns 46,134 shares of the information technology service provider’s stock valued at $2,621,000 after purchasing an additional 5,798 shares during the period. APG Asset Management N.V. raised its position in Cognizant Technology Solutions by 81.6% in the first quarter. APG Asset Management N.V. now owns 690,869 shares of the information technology service provider’s stock valued at $32,105,000 after purchasing an additional 310,406 shares during the period. Finally, Cigna Investments Inc. New raised its position in Cognizant Technology Solutions by 51.6% in the first quarter. Cigna Investments Inc. New now owns 22,036 shares of the information technology service provider’s stock valued at $1,024,000 after purchasing an additional 7,496 shares during the period. Hedge funds and other institutional investors own 89.68% of the company’s stock.

CTSH has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on Cognizant Technology Solutions from $69.00 to $79.00 and gave the stock a “neutral” rating in a research note on Monday, August 17th. BMO Capital Markets raised Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $64.00 to $70.00 in a research note on Wednesday, July 15th. BofA Securities raised Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and raised their price objective for the company from $67.00 to $76.00 in a research note on Friday, September 11th. Morgan Stanley raised their price objective on Cognizant Technology Solutions from $51.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 28th. Finally, Bank of America raised Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and raised their price objective for the company from $67.00 to $76.00 in a research note on Friday, September 11th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $68.27.

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.

See Also: Strangles

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

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.