Cognizant Technology Solutions Corp (NASDAQ:CTSH) was the recipient of some unusual options trading on Monday. Traders bought 12,008 call options on the stock. This is an increase of 1,480% compared to the typical volume of 760 call options.
Several research firms recently commented on CTSH. Vetr raised Cognizant Technology Solutions from a “hold” rating to a “strong-buy” rating and set a $95.56 price objective for the company in a research note on Wednesday, November 29th. KeyCorp restated a “buy” rating and issued a $79.00 target price on shares of Cognizant Technology Solutions in a report on Friday, September 8th. Bank of America restated a “buy” rating and issued a $86.00 target price on shares of Cognizant Technology Solutions in a report on Tuesday, September 12th. BidaskClub cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Finally, BMO Capital Markets upped their target price on Cognizant Technology Solutions from $76.00 to $78.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. Six analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. Cognizant Technology Solutions currently has a consensus rating of “Buy” and an average target price of $81.91.
In related news, General Counsel Matthew W. Friedrich sold 2,717 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $70.75, for a total value of $192,227.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Malcolm Frank sold 9,462 shares of the stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $70.61, for a total value of $668,111.82. Following the completion of the transaction, the vice president now directly owns 15,533 shares of the company’s stock, valued at $1,096,785.13. The disclosure for this sale can be found here. Over the last three months, insiders sold 569,476 shares of company stock valued at $41,071,682. 1.08% of the stock is owned by corporate insiders.
Cognizant Technology Solutions (CTSH) opened at $71.20 on Thursday. The firm has a market capitalization of $41,980.00, a price-to-earnings ratio of 22.04, a PEG ratio of 1.62 and a beta of 1.07. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions has a twelve month low of $51.52 and a twelve month high of $76.51.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.13. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 EPS. research analysts predict that Cognizant Technology Solutions will post 3.35 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Monday, November 20th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, November 17th. Cognizant Technology Solutions’s dividend payout ratio is presently 18.58%.
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Cognizant Technology Solutions Company Profile
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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