Cognizant Technology Solutions Corp Sees Unusually Large Options Volume (CTSH)
Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) were the recipient of unusually large options trading on Thursday. Stock traders bought 3,547 call options on the company, Analyst Ratings.Net reports. This is an increase of approximately 118% compared to the typical volume of 1,630 call options.
In other Cognizant Technology Solutions Corp news, VP Malcolm Frank unloaded 1,254 shares of the stock on the open market in a transaction dated Monday, August 4th. The shares were sold at an average price of $49.87, for a total value of $62,536.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on CTSH shares. Analysts at Berenberg Bank cut their price target on shares of Cognizant Technology Solutions Corp from $51.00 to $44.40 in a research note on Thursday. They now have a “hold” rating on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Cognizant Technology Solutions Corp in a research note on Thursday. They now have a $51.00 price target on the stock, down previously from $56.00. Finally, analysts at BMO Capital Markets cut their price target on shares of Cognizant Technology Solutions Corp from $52.00 to $49.00 in a research note on Thursday. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $52.22.
Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) traded up 1.63% during mid-day trading on Thursday, hitting $44.38. 11,626,289 shares of the company’s stock traded hands. Cognizant Technology Solutions Corp has a 52-week low of $35.00 and a 52-week high of $54.00. The stock has a 50-day moving average of $49.48 and a 200-day moving average of $49.3. The company has a market cap of $27.003 billion and a P/E ratio of 20.65.
Cognizant Technology Solutions Corp (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.08. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the company posted $1.07 earnings per share. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, analysts predict that Cognizant Technology Solutions Corp will post $2.40 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.
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