Insider Selling: Cognizant Technology Solutions Corp (CTSH) COO Sells 5,000 Shares of Stock

Cognizant Technology Solutions Corp (NASDAQ:CTSH) COO Srinivasan Veeraraghavachary sold 5,000 shares of Cognizant Technology Solutions stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $76.76, for a total value of $383,800.00. Following the completion of the sale, the chief operating officer now directly owns 24,072 shares in the company, valued at $1,847,766.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) traded up $1.71 during trading on Wednesday, hitting $79.82. The stock had a trading volume of 4,760,060 shares, compared to its average volume of 4,074,970. Cognizant Technology Solutions Corp has a twelve month low of $57.00 and a twelve month high of $80.13. The firm has a market cap of $46,150.00, a price-to-earnings ratio of 31.67, a PEG ratio of 1.47 and a beta of 1.11. The company has a current ratio of 3.21, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.15. Cognizant Technology Solutions had a return on equity of 19.94% and a net margin of 10.15%. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the prior year, the company posted $0.87 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. research analysts expect that Cognizant Technology Solutions Corp will post 4.17 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Thursday, February 22nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Wednesday, February 21st. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. Cognizant Technology Solutions’s payout ratio is currently 23.81%.

A number of analysts have recently issued reports on CTSH shares. Robert W. Baird lifted their price target on Cognizant Technology Solutions from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, October 19th. Barclays lifted their price target on Cognizant Technology Solutions from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. They noted that the move was a valuation call. Citigroup lifted their price target on Cognizant Technology Solutions from $73.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $78.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, November 1st. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $80.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, November 1st. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. Cognizant Technology Solutions presently has a consensus rating of “Buy” and a consensus price target of $84.32.

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Cognizant Technology Solutions by 3.1% in the 4th quarter. BlackRock Inc. now owns 36,121,482 shares of the information technology service provider’s stock valued at $2,565,349,000 after buying an additional 1,088,469 shares during the period. Edgewood Management LLC raised its holdings in shares of Cognizant Technology Solutions by 9.3% in 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 during the period. Nordea Investment Management AB raised its holdings in shares of Cognizant Technology Solutions by 3.2% in 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 during the period. Comgest Global Investors S.A.S. raised its holdings in shares of Cognizant Technology Solutions by 18.3% in the 4th quarter. Comgest Global Investors S.A.S. now owns 8,774,817 shares of the information technology service provider’s stock valued at $623,188,000 after buying an additional 1,358,200 shares during the period. Finally, Pzena Investment Management LLC raised its holdings in shares of Cognizant Technology Solutions by 2.8% in the 4th quarter. Pzena Investment Management LLC now owns 7,119,634 shares of the information technology service provider’s stock valued at $505,636,000 after buying an additional 194,583 shares during the period. Hedge funds and other institutional investors own 86.87% of the company’s stock.

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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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