Cognizant Technology Solutions Corp (NASDAQ:CTSH) Director John Nelson Fox, Jr. sold 19,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $72.00, for a total value of $1,404,000.00. Following the transaction, the director now owns 55,090 shares of the company’s stock, valued at approximately $3,966,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Cognizant Technology Solutions Corp (CTSH) traded up $0.62 during trading hours on Thursday, reaching $71.81. 4,694,147 shares of the company were exchanged, compared to its average volume of 3,976,656. The company has a market capitalization of $42,130.14, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 1.61 and a beta of 1.07. Cognizant Technology Solutions Corp has a 52 week low of $51.52 and a 52 week high of $76.51. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, November 1st. The information technology service provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.13. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.77 billion. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. Cognizant Technology Solutions’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 earnings per share. equities analysts anticipate that Cognizant Technology Solutions Corp will post 3.35 earnings per share for the current fiscal year.
Several brokerages have issued reports on CTSH. Vetr upgraded Cognizant Technology Solutions from a “sell” rating to a “buy” rating and set a $76.85 target price for the company in a research report on Tuesday, September 19th. Barclays boosted their target price on Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. Wedbush restated an “outperform” rating on shares of Cognizant Technology Solutions in a research report on Monday, September 18th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $78.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, November 1st. Finally, William Blair raised shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research note on Wednesday, November 1st. Six research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $81.91.
Large investors have recently modified their holdings of the stock. Pathstone Family Office LLC raised its stake in Cognizant Technology Solutions by 1,208.8% in the second quarter. Pathstone Family Office LLC now owns 1,479 shares of the information technology service provider’s stock worth $2,485,000 after buying an additional 1,366 shares in the last quarter. Acrospire Investment Management LLC raised its stake in Cognizant Technology Solutions by 92.6% in the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock worth $110,000 after buying an additional 800 shares in the last quarter. Bank of Nova Scotia Trust Co. bought a new position in Cognizant Technology Solutions in the third quarter worth approximately $121,000. WFG Advisors LP raised its stake in Cognizant Technology Solutions by 46.4% in the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after buying an additional 621 shares in the last quarter. Finally, Krilogy Financial LLC acquired a new position in shares of Cognizant Technology Solutions during the second quarter worth $137,000. 87.06% of the stock is owned by institutional investors.
About Cognizant Technology Solutions
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.
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