Rajeev Mehta Sells 108,217 Shares of Cognizant Technology Solutions Corp (CTSH) Stock

Cognizant Technology Solutions Corp (NASDAQ:CTSH) President Rajeev Mehta sold 108,217 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $77.32, for a total transaction of $8,367,338.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Rajeev Mehta also recently made the following trade(s):

  • On Wednesday, February 7th, Rajeev Mehta sold 34,000 shares of Cognizant Technology Solutions stock. The shares were sold at an average price of $79.13, for a total transaction of $2,690,420.00.
  • On Monday, January 22nd, Rajeev Mehta sold 42,563 shares of Cognizant Technology Solutions stock. The shares were sold at an average price of $77.50, for a total transaction of $3,298,632.50.
  • On Wednesday, January 17th, Rajeev Mehta sold 42,500 shares of Cognizant Technology Solutions stock. The shares were sold at an average price of $76.00, for a total transaction of $3,230,000.00.

Cognizant Technology Solutions Corp (CTSH) traded up $1.71 during trading on Wednesday, reaching $79.82. 4,760,060 shares of the company’s stock traded hands, compared to its average volume of 4,074,970. 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 Corp has a 52-week low of $57.00 and a 52-week high of $80.13. The company has a market cap of $46,150.00, a price-to-earnings ratio of 31.67, a price-to-earnings-growth ratio of 1.47 and a beta of 1.11.

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

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

CTSH has been the subject of a number of research reports. Robert W. Baird raised their price objective on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, October 19th. Barclays raised their price objective on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, October 30th. They noted that the move was a valuation call. Citigroup raised their price objective on shares of Cognizant Technology Solutions from $73.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Cantor Fitzgerald reiterated a “buy” rating and issued a $78.00 price objective on shares of Cognizant Technology Solutions in a report on Wednesday, November 1st. Finally, Oppenheimer reiterated a “buy” rating and issued a $80.00 price objective on shares of Cognizant Technology Solutions in a report 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 assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $84.32.

Hedge funds have recently made changes to their positions in the company. Vestpro Financial Partners Inc. dba CPF Texas acquired a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $107,000. Shine Investment Advisory Services Inc. grew its position in shares of Cognizant Technology Solutions by 108.8% during the 4th quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock worth $107,000 after buying an additional 788 shares during the period. Clearbridge Investments LLC grew its position in shares of Cognizant Technology Solutions by 101.2% during the 4th quarter. Clearbridge Investments LLC now owns 1,616 shares of the information technology service provider’s stock worth $115,000 after buying an additional 813 shares during the period. Bank of Nova Scotia Trust Co. acquired a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $121,000. Finally, Cerebellum GP LLC acquired a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $128,000. 86.87% of the stock is owned by institutional investors.

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About Cognizant Technology Solutions

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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