Insider Selling: Cognizant Technology Solutions Corp CFO Sells 7,990 Shares of Stock (CTSH)
Cognizant Technology Solutions Corp (NASDAQ:CTSH) CFO Karen Mcloughlin unloaded 7,990 shares of the company’s stock on the open market in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $48.50, for a total value of $387,515.00. Following the sale, the chief financial officer now directly owns 22,173 shares of the company’s stock, valued at approximately $1,075,391. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
CTSH has been the subject of a number of recent research reports. Analysts at Susquehanna downgraded shares of Cognizant Technology Solutions Corp from a “positive” rating to a “neutral” rating in a research note on Tuesday, June 10th. They now have a $55.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Deutsche Bank cut their price target on shares of Cognizant Technology Solutions Corp in a research note on Friday, May 9th. Finally, analysts at Societe Generale cut their price target on shares of Cognizant Technology Solutions Corp from $60.00 to $58.00 in a research note on Friday, May 9th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $45.57.
Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) traded down 0.57% during mid-day trading on Thursday, hitting $48.72. The stock had a trading volume of 1,056,956 shares. Cognizant Technology Solutions Corp has a 52 week low of $30.46 and a 52 week high of $54.00. The stock’s 50-day moving average is $48.2 and its 200-day moving average is $49.15. The company has a market cap of $29.644 billion and a price-to-earnings ratio of 23.17.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is a provider of custom information technology, consulting and business process outsourcing services.
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