Cognizant Technology Solutions Corp (NASDAQ:CTSH) President Rajeev Mehta sold 34,437 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $72.54, for a total transaction of $2,498,059.98. Following the completion of the sale, the president now directly owns 170,063 shares of the company’s stock, valued at approximately $12,336,370.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Rajeev Mehta also recently made the following trade(s):

  • On Monday, September 11th, Rajeev Mehta sold 32,000 shares of Cognizant Technology Solutions Corp stock. The shares were sold at an average price of $72.02, for a total transaction of $2,304,640.00.
  • On Friday, September 1st, Rajeev Mehta sold 32,000 shares of Cognizant Technology Solutions Corp stock. The shares were sold at an average price of $71.02, for a total transaction of $2,272,640.00.

Cognizant Technology Solutions Corp (NASDAQ CTSH) traded down 0.73% on Thursday, hitting $71.74. 2,049,914 shares of the stock were exchanged. The stock has a market cap of $42.37 billion, a PE ratio of 23.02 and a beta of 1.14. Cognizant Technology Solutions Corp has a 1-year low of $45.44 and a 1-year high of $73.00. The company’s 50 day moving average is $70.41 and its 200 day moving average is $64.97.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) last announced its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.11. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. Cognizant Technology Solutions Corp had a net margin of 12.81% and a return on equity of 18.42%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 EPS. On average, equities research analysts expect that Cognizant Technology Solutions Corp will post $3.70 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.84%. The ex-dividend date was Friday, August 18th. Cognizant Technology Solutions Corp’s dividend payout ratio (DPR) is presently 19.17%.

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A number of equities research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $78.00 price target (up from $72.00) on shares of Cognizant Technology Solutions Corp in a report on Wednesday, August 9th. Berenberg Bank raised shares of Cognizant Technology Solutions Corp from a “hold” rating to a “buy” rating and raised their price target for the company from $65.00 to $85.00 in a report on Tuesday, August 8th. KeyCorp reaffirmed a “buy” rating and set a $79.00 price target on shares of Cognizant Technology Solutions Corp in a report on Friday, September 8th. Zacks Investment Research raised shares of Cognizant Technology Solutions Corp from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Tuesday, August 8th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $76.00 price target (up from $69.00) on shares of Cognizant Technology Solutions Corp in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $71.43.

A number of institutional investors have recently made changes to their positions in CTSH. Acadian Asset Management LLC increased its holdings in Cognizant Technology Solutions Corp by 253.9% in the 1st quarter. Acadian Asset Management LLC now owns 3,231 shares of the information technology service provider’s stock valued at $192,000 after buying an additional 2,318 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in Cognizant Technology Solutions Corp by 23.3% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,220,005 shares of the information technology service provider’s stock valued at $72,615,000 after buying an additional 230,699 shares during the period. Investment Management of Virginia LLC increased its holdings in Cognizant Technology Solutions Corp by 2.2% in the 1st quarter. Investment Management of Virginia LLC now owns 16,441 shares of the information technology service provider’s stock valued at $979,000 after buying an additional 355 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in Cognizant Technology Solutions Corp by 22.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 278,156 shares of the information technology service provider’s stock valued at $16,670,000 after buying an additional 51,226 shares during the period. Finally, Moody Lynn & Lieberson LLC bought a new stake in Cognizant Technology Solutions Corp in the 1st quarter valued at $226,000. 87.64% of the stock is currently owned by hedge funds and other institutional investors.

About Cognizant Technology Solutions Corp

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 Corp (NASDAQ:CTSH)

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