Cognizant Technology Solutions Corp. CEO Sells $1,976,000 in Stock (CTSH)
Cognizant Technology Solutions Corp. (NASDAQ:CTSH) CEO Francisco Dsouza sold 24,700 shares of the stock on the open market in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $80.00, for a total transaction of $1,976,000.00. Following the sale, the chief executive officer now directly owns 109,934 shares in the company. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on CTSH. Analysts at Societe Generale raised their price target on shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) from $74.00 to $85.00 in a research note to investors on Thursday, August 8th. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) in a research note to investors on Thursday, August 8th. They now have a $78.00 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) from $80.00 to $87.00 in a research note to investors on Wednesday, August 7th.
Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $83.60.
Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded up 1.12% on Friday, hitting $79.69. 1,640,199 shares of the company’s stock traded hands. Cognizant Technology Solutions Corp. has a 1-year low of $60.92 and a 1-year high of $81.08. The stock’s 50-day moving average is $73.88 and its 200-day moving average is $70.56. The company has a market cap of $24.016 billion and a price-to-earnings ratio of 21.00.
Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last announced its earnings results on Tuesday, August 6th. The company reported $1.07 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.97 by $0.10. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. The company’s quarterly revenue was up 20.4% on a year-over-year basis.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is a provider of custom information technology, consulting and business process outsourcing services.
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