Insider Selling: Karen Mcloughlin Sells 1,003 Shares of Cognizant Technology Solutions Corp Stock (CTSH)
Cognizant Technology Solutions Corp (NASDAQ:CTSH) CFO Karen Mcloughlin sold 1,003 shares of Cognizant Technology Solutions Corp stock on the open market in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $49.09, for a total value of $49,237.27. Following the completion of the sale, the chief financial officer now directly owns 21,583 shares of the company’s stock, valued at approximately $1,059,509. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) traded up 2.70% during mid-day trading on Thursday, hitting $48.29. 2,234,416 shares of the company’s stock traded hands. Cognizant Technology Solutions Corp has a 52-week low of $30.46 and a 52-week high of $54.00. The stock has a 50-day moving average of $49.1 and a 200-day moving average of $48.51. The company has a market cap of $29.332 billion and a price-to-earnings ratio of 23.33.
Cognizant Technology Solutions Corp (NASDAQ:CTSH) last released its earnings data on Wednesday, May 7th. The company reported $0.62 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.55 by $0.07. The company had revenue of $2.42 million for the quarter, compared to the consensus estimate of $2.43 million. During the same quarter last year, the company posted $1.02 earnings per share. Cognizant Technology Solutions Corp’s revenue was up 19.9% compared to the same quarter last year. Analysts expect that Cognizant Technology Solutions Corp will post $2.47 EPS for the current fiscal year.
CTSH has been the subject of a number of recent research reports. Analysts at Cowen and Company cut their price target on shares of Cognizant Technology Solutions Corp from $60.00 to $55.00 in a research note on Thursday. Separately, analysts at Societe Generale raised their price target on shares of Cognizant Technology Solutions Corp from $55.00 to $60.00 in a research note on Thursday, April 10th. Finally, analysts at UBS AG upgraded shares of Cognizant Technology Solutions Corp from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 2nd. They now have a $58.00 price target on the stock, up previously from $50.00. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $86.50.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is a provider of custom information technology, consulting and business process outsourcing services.
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