Insider Selling: Malcolm Frank Sells 1,643 Shares of Cognizant Technology Solutions Corp Stock (CTSH)
Cognizant Technology Solutions Corp (NASDAQ:CTSH) VP Malcolm Frank sold 1,643 shares of the stock on the open market in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $49.23, for a total value of $80,884.89. Following the sale, the vice president now directly owns 810 shares in the company, valued at approximately $39,876. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on CTSH. 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 investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $86.50.
Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) traded up 2.68% on Thursday, hitting $48.28. The stock had a trading volume of 2,235,534 shares. 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 $29.326 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 (EPS) for the quarter, beating the 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 in the previous year, the company posted $1.02 earnings per share. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. Analysts expect that Cognizant Technology Solutions Corp will post $2.47 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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