Cognizant Technology Solutions Target of Unusually High Options Trading (CTSH)

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.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC boosted its holdings in Cognizant Technology Solutions by 92.6% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock valued at $110,000 after acquiring an additional 800 shares during the period. Bank of Nova Scotia Trust Co. purchased a new position in Cognizant Technology Solutions during the 3rd quarter valued at about $121,000. WFG Advisors LP boosted its holdings in Cognizant Technology Solutions by 46.4% during the 2nd quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock valued at $130,000 after acquiring an additional 621 shares during the period. Krilogy Financial LLC purchased a new position in Cognizant Technology Solutions during the 2nd quarter valued at about $137,000. Finally, BB&T Investment Services Inc. boosted its holdings in Cognizant Technology Solutions by 86.8% during the 3rd quarter. BB&T Investment Services Inc. now owns 2,176 shares of the information technology service provider’s stock valued at $141,000 after acquiring an additional 1,011 shares during the period. Institutional investors and hedge funds own 85.98% of the company’s stock.

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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