Insider Selling: Cognizant Technology Solutions Corp (CTSH) Insider Sells 2,625 Shares of Stock

Cognizant Technology Solutions Corp (NASDAQ:CTSH) insider Sumithra Gomatam sold 2,625 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $76.00, for a total value of $199,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Sumithra Gomatam also recently made the following trade(s):

  • On Tuesday, October 31st, Sumithra Gomatam sold 3,163 shares of Cognizant Technology Solutions stock. The shares were sold at an average price of $76.00, for a total value of $240,388.00.

Cognizant Technology Solutions Corp (NASDAQ CTSH) traded up $0.54 during trading on Friday, hitting $77.29. The company’s stock had a trading volume of 3,177,037 shares, compared to its average volume of 3,770,000. 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. Cognizant Technology Solutions Corp has a 52-week low of $51.52 and a 52-week high of $77.38. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.29 and a quick ratio of 3.29.

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

Several large investors have recently modified their holdings of CTSH. Acrospire Investment Management LLC raised its position in shares of Cognizant Technology Solutions by 92.6% during the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock worth $110,000 after purchasing an additional 800 shares during the period. Bank of Nova Scotia Trust Co. acquired a new position in shares of Cognizant Technology Solutions during the third quarter worth approximately $121,000. WFG Advisors LP raised its position in shares of Cognizant Technology Solutions by 46.4% during the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after purchasing an additional 621 shares during the period. Krilogy Financial LLC acquired a new position in shares of Cognizant Technology Solutions during the second quarter worth approximately $137,000. Finally, BB&T Investment Services Inc. raised its position in shares of Cognizant Technology Solutions by 86.8% during the third quarter. BB&T Investment Services Inc. now owns 2,176 shares of the information technology service provider’s stock worth $141,000 after purchasing an additional 1,011 shares during the period. 86.04% of the stock is currently owned by institutional investors.

Several brokerages recently commented on CTSH. BidaskClub upgraded Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a report on Friday. Zacks Investment Research upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Wednesday, January 10th. Oppenheimer reiterated a “buy” rating and issued a $80.00 target price on shares of Cognizant Technology Solutions in a report on Wednesday, November 1st. Morgan Stanley upped their target price on Cognizant Technology Solutions from $74.00 to $77.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Finally, Citigroup upgraded Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and upped their target price for the company from $75.84 to $79.00 in a report on Thursday. Five analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $81.98.

TRADEMARK VIOLATION WARNING: “Insider Selling: Cognizant Technology Solutions Corp (CTSH) Insider Sells 2,625 Shares of Stock” was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/01/19/insider-selling-cognizant-technology-solutions-corp-ctsh-insider-sells-2625-shares-of-stock.html.

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)

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply