Cognizant Technology Solutions Corp (CTSH) President Rajeev Mehta Sells 42,500 Shares

Cognizant Technology Solutions Corp (NASDAQ:CTSH) President Rajeev Mehta sold 42,500 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $76.00, for a total transaction of $3,230,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Cognizant Technology Solutions Corp (NASDAQ CTSH) traded up $0.54 during midday trading on Friday, reaching $77.29. 3,180,000 shares of the company’s stock were exchanged, compared to its average volume of 3,770,000. Cognizant Technology Solutions Corp has a 12 month low of $51.52 and a 12 month high of $77.38. The company has a market cap of $45,570.00, a PE ratio of 23.93, a price-to-earnings-growth ratio of 1.45 and a beta of 1.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.13. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the firm posted $0.86 EPS. The company’s revenue was up 9.1% on a year-over-year basis. sell-side analysts predict that Cognizant Technology Solutions Corp will post 3.35 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC grew its holdings in Cognizant Technology Solutions by 81.6% during the 2nd quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock valued at $1,664,366,000 after buying an additional 11,262,360 shares in the last quarter. Edgewood Management LLC grew its holdings in Cognizant Technology Solutions by 9.3% during the 3rd quarter. Edgewood Management LLC now owns 16,915,676 shares of the information technology service provider’s stock valued at $1,227,063,000 after buying an additional 1,443,368 shares in the last quarter. Nordea Investment Management AB grew its holdings in Cognizant Technology Solutions by 3.2% during the 3rd quarter. Nordea Investment Management AB now owns 10,076,020 shares of the information technology service provider’s stock valued at $730,914,000 after buying an additional 313,364 shares in the last quarter. Comgest Global Investors S.A.S. grew its holdings in Cognizant Technology Solutions by 24.5% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 7,416,617 shares of the information technology service provider’s stock valued at $538,001,000 after buying an additional 1,461,800 shares in the last quarter. Finally, Swedbank grew its holdings in Cognizant Technology Solutions by 1.8% during the 3rd quarter. Swedbank now owns 6,621,266 shares of the information technology service provider’s stock valued at $480,307,000 after buying an additional 116,263 shares in the last quarter. 86.04% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on the stock. BidaskClub upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research note on Friday. Zacks Investment Research cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday. Citigroup upgraded shares of Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $75.84 to $79.00 in a research note on Thursday. Barclays reiterated a “buy” rating and issued a $86.00 price objective on shares of Cognizant Technology Solutions in a research note on Friday, January 5th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $78.00 price objective on shares of Cognizant Technology Solutions in a research note on Tuesday, December 5th. Five research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $81.98.

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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.

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

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