Cognizant Technology Solutions Corporation (NASDAQ:CTSH) COO Srinivasan Veeraraghavachary sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $71.00, for a total transaction of $177,500.00. Following the completion of the transaction, the chief operating officer now directly owns 27,165 shares in the company, valued at approximately $1,928,715. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Srinivasan Veeraraghavachary also recently made the following trade(s):

  • On Tuesday, May 16th, Srinivasan Veeraraghavachary sold 3,069 shares of Cognizant Technology Solutions Corporation stock. The stock was sold at an average price of $65.00, for a total transaction of $199,485.00.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up 0.99% during midday trading on Tuesday, reaching $70.28. The company’s stock had a trading volume of 3,709,161 shares. Cognizant Technology Solutions Corporation has a 52 week low of $45.44 and a 52 week high of $70.75. The firm has a market capitalization of $41.39 billion, a PE ratio of 25.57 and a beta of 1.17. The stock has a 50 day moving average of $67.94 and a 200 day moving average of $62.02.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.82 by $0.11. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.65 billion. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.87 EPS. On average, equities research analysts predict that Cognizant Technology Solutions Corporation will post $3.69 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 22nd will be issued a $0.15 dividend. The ex-dividend date is Friday, August 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.86%. Cognizant Technology Solutions Corporation’s payout ratio is presently 19.17%.

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Several research firms recently commented on CTSH. Zacks Investment Research raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Tuesday. Berenberg Bank upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and increased their target price for the stock from $65.00 to $85.00 in a report on Tuesday. BMO Capital Markets reiterated a “buy” rating on shares of Cognizant Technology Solutions Corporation in a report on Friday. Credit Suisse Group set a $80.00 target price on shares of Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a report on Friday. They noted that the move was a valuation call. Finally, Loop Capital upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Cognizant Technology Solutions Corporation has a consensus rating of “Buy” and an average target price of $67.90.

Several institutional investors have recently modified their holdings of CTSH. BlackRock Inc. raised its stake in Cognizant Technology Solutions Corporation by 3,470.1% in the first quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock worth $2,425,316,000 after buying an additional 39,606,526 shares during the period. Vanguard Group Inc. raised its stake in Cognizant Technology Solutions Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 40,545,109 shares of the information technology service provider’s stock worth $2,413,246,000 after buying an additional 1,379,271 shares during the period. State Street Corp raised its stake in Cognizant Technology Solutions Corporation by 1.8% in the first quarter. State Street Corp now owns 24,267,262 shares of the information technology service provider’s stock worth $1,444,391,000 after buying an additional 435,142 shares during the period. Edgewood Management LLC raised its stake in Cognizant Technology Solutions Corporation by 3.9% in the first quarter. Edgewood Management LLC now owns 14,706,635 shares of the information technology service provider’s stock worth $875,339,000 after buying an additional 557,035 shares during the period. Finally, FMR LLC raised its stake in Cognizant Technology Solutions Corporation by 2.3% in the first quarter. FMR LLC now owns 13,803,392 shares of the information technology service provider’s stock worth $821,576,000 after buying an additional 314,137 shares during the period. 89.21% of the stock is owned by institutional investors and hedge funds.

About Cognizant Technology Solutions Corporation

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

Insider Buying and Selling by Quarter for Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

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