Cognizant Technology Solutions Corporation (CTSH) Director Sells $1,065,675.60 in Stock

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Director Leo S. Jr. Mackay sold 14,247 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $74.80, for a total transaction of $1,065,675.60. Following the completion of the sale, the director now directly owns 12,577 shares of the company’s stock, valued at approximately $940,759.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Cognizant Technology Solutions Corporation (CTSH) opened at $74.26 on Friday. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $43,598.36, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 1.67 and a beta of 1.10. Cognizant Technology Solutions Corporation has a one year low of $51.35 and a one year high of $76.51.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its earnings results 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. The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Cognizant Technology Solutions Corporation had a return on equity of 18.94% and a net margin of 13.42%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $0.86 earnings per share. equities research analysts anticipate that Cognizant Technology Solutions Corporation will post 3.35 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 20th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Friday, November 17th. Cognizant Technology Solutions Corporation’s payout ratio is 18.52%.

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Hedge funds have recently bought and sold shares of the business. Linscomb & Williams Inc. bought a new stake in Cognizant Technology Solutions Corporation in the third quarter valued at $278,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Cognizant Technology Solutions Corporation by 45.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 143,385 shares of the information technology service provider’s stock valued at $10,401,000 after purchasing an additional 44,982 shares in the last quarter. Comgest Global Investors S.A.S. raised its stake in shares of Cognizant Technology Solutions Corporation by 57.7% during the second quarter. Comgest Global Investors S.A.S. now owns 5,954,817 shares of the information technology service provider’s stock valued at $395,400,000 after purchasing an additional 2,178,800 shares in the last quarter. Oak Ridge Investments LLC raised its stake in shares of Cognizant Technology Solutions Corporation by 7.1% during the second quarter. Oak Ridge Investments LLC now owns 169,645 shares of the information technology service provider’s stock valued at $11,264,000 after purchasing an additional 11,316 shares in the last quarter. Finally, Atlantic Trust Group LLC raised its stake in shares of Cognizant Technology Solutions Corporation by 1.3% during the second quarter. Atlantic Trust Group LLC now owns 637,050 shares of the information technology service provider’s stock valued at $42,300,000 after purchasing an additional 8,245 shares in the last quarter. Institutional investors own 87.42% of the company’s stock.

Several analysts have issued reports on CTSH shares. Cowen and Company reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Cognizant Technology Solutions Corporation in a research report on Friday, July 28th. Vetr raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $71.62 price objective for the company in a research report on Wednesday, August 2nd. Loop Capital raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and increased their price objective for the company from $63.00 to $83.00 in a research report on Friday, August 4th. Credit Suisse Group set a $80.00 price objective on shares of Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research report on Friday, August 4th. They noted that the move was a valuation call. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $76.00 price objective (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a research report on Friday, August 4th. Five investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $81.19.

Cognizant Technology Solutions Corporation 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 Corporation (NASDAQ:CTSH)

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