Insider Selling: Cognizant Technology Solutions Corp (NASDAQ:CTSH) General Counsel Sells 457 Shares of Stock

Cognizant Technology Solutions Corp (NASDAQ:CTSH) General Counsel Matthew W. Friedrich sold 457 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $69.15, for a total transaction of $31,601.55. Following the transaction, the general counsel now owns 2,518 shares in the company, valued at $174,119.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of CTSH 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. The company has a market cap of $38.35 billion, a PE ratio of 24.18, a P/E/G ratio of 1.77 and a beta of 1.20. Cognizant Technology Solutions Corp has a 52 week low of $40.01 and a 52 week high of $71.81. The company has a 50-day simple moving average of $67.06 and a 200 day simple moving average of $57.42. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.66 and a quick ratio of 2.66.

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

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

Large investors have recently added to or reduced their stakes in the stock. Kore Private Wealth LLC grew its stake in shares of Cognizant Technology Solutions by 144.8% in the second quarter. Kore Private Wealth LLC now owns 475 shares of the information technology service provider’s stock valued at $26,000 after buying an additional 281 shares in the last quarter. Ovata Capital Management Ltd bought a new position in shares of Cognizant Technology Solutions in the second quarter valued at $36,000. tru Independence LLC grew its stake in shares of Cognizant Technology Solutions by 266.7% in the second quarter. tru Independence LLC now owns 825 shares of the information technology service provider’s stock valued at $47,000 after buying an additional 600 shares in the last quarter. Smithfield Trust Co. grew its stake in shares of Cognizant Technology Solutions by 96.3% in the second quarter. Smithfield Trust Co. now owns 1,162 shares of the information technology service provider’s stock valued at $66,000 after buying an additional 570 shares in the last quarter. Finally, Pathstone Family Office LLC grew its stake in shares of Cognizant Technology Solutions by 246.9% in the first quarter. Pathstone Family Office LLC now owns 1,561 shares of the information technology service provider’s stock valued at $73,000 after buying an additional 1,111 shares in the last quarter. 89.68% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have issued reports on CTSH shares. Needham & Company LLC upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “hold” rating in a research report on Thursday, July 30th. HSBC upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and increased their price target for the company from $56.00 to $68.00 in a research report on Monday, July 13th. Royal Bank of Canada increased their price target on shares of Cognizant Technology Solutions from $68.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Bank of America upgraded shares of Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and increased their price target for the company from $67.00 to $76.00 in a research report on Friday, September 11th. Finally, Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating and set a $67.00 price target on the stock in a research report on Wednesday, July 29th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the stock. Cognizant Technology Solutions 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.

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

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