Cognizant Technology Solutions Corp. CEO Sells $4,462,316 in Stock (CTSH)
Cognizant Technology Solutions Corp. (NASDAQ:CTSH) CEO Rajeev Mehta sold 42,673 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.57, for a total transaction of $4,462,315.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
CTSH has been the subject of a number of recent research reports. Analysts at UBS AG raised their price target on shares of Cognizant Technology Solutions Corp. from $94.00 to $100.00 in a research note on Thursday, February 6th. They now have a “neutral” rating on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Cognizant Technology Solutions Corp. from $96.00 to $103.00 in a research note on Thursday, February 6th. Finally, analysts at Jefferies Group raised their price target on shares of Cognizant Technology Solutions Corp. from $102.00 to $112.00 in a research note on Thursday, January 30th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Cognizant Technology Solutions Corp. has a consensus rating of “Buy” and a consensus target price of $95.68.
Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded up 1.00% during mid-day trading on Wednesday, hitting $104.30. The stock had a trading volume of 996,435 shares. Cognizant Technology Solutions Corp. has a 52 week low of $60.92 and a 52 week high of $105.30. The stock’s 50-day moving average is $98.7 and its 200-day moving average is $89.54. The company has a market cap of $31.590 billion and a price-to-earnings ratio of 25.63.
Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.15 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.06 by $0.09. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. The company’s quarterly revenue was up 20.9% on a year-over-year basis. Analysts expect that Cognizant Technology Solutions Corp. will post $4.88 EPS for the current fiscal year.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is a provider of custom information technology, consulting and business process outsourcing services.
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