Cognizant Technology Solutions Corp. Sees Unusually High Options Volume (CTSH)
Cognizant Technology Solutions Corp. (NASDAQ:CTSH) was the recipient of unusually large options trading activity on Tuesday. Investors purchased 14,101 put options on the company, StockRatingsNetwork.com reports. This represents an increase of approximately 923% compared to the average volume of 1,378 put options.
In other Cognizant Technology Solutions Corp. news, SVP Steven Schwartz sold 2,350 shares of the stock on the open market in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $84.03, for a total transaction of $197,470.50. Following the sale, the senior vice president now directly owns 12,195 shares in the company, valued at approximately $1,024,746. 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 reiterated a “buy” rating on shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) in a research note to investors on Wednesday, September 18th. They now have a $85.00 price target on the stock. Separately, analysts at Evercore Partners raised their price target on shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) from $94.00 to $110.00 in a research note to investors on Wednesday, September 18th. They now have an “overweight” rating on the stock. Finally, analysts at UBS AG raised their price target on shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) from $80.00 to $97.00 in a research note to investors on Wednesday, September 18th. They now have an “overweight” rating on the stock.
Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $85.76.
Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded up 0.56% on Tuesday, hitting $82.89. The stock had a trading volume of 1,811,519 shares. Cognizant Technology Solutions Corp. has a one year low of $60.92 and a one year high of $84.17. The stock’s 50-day moving average is $75.68 and its 200-day moving average is $70.6. The company has a market cap of $24.980 billion and a P/E ratio of 21.97.
Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last posted its quarterly 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 previous year, the company posted $0.82 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, analysts predict that Cognizant Technology Solutions Corp. will post $3.98 earnings per share for the current fiscal year.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is a provider of custom information technology, consulting and business process outsourcing services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.