Matthew W. Friedrich Sells 2,711 Shares of Cognizant Technology Solutions Corporation (CTSH) Stock

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) General Counsel Matthew W. Friedrich sold 2,711 shares of Cognizant Technology Solutions Corporation stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $74.30, for a total value of $201,427.30. The transaction 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) traded down $2.32 on Friday, reaching $72.91. 4,370,631 shares of the company’s stock were exchanged, compared to its average volume of 3,986,974. 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 company has a market capitalization of $44,450.00, a PE ratio of 22.38, a P/E/G ratio of 1.69 and a beta of 1.10. Cognizant Technology Solutions Corporation has a twelve month low of $51.35 and a twelve month high of $76.51.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 net margin of 13.42% and a return on equity of 18.94%. The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. research analysts forecast that Cognizant Technology Solutions Corporation will post 3.35 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 20th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.82%. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is presently 18.58%.

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A number of equities analysts have weighed in on the company. Cantor Fitzgerald reissued a “buy” rating and set a $78.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, November 1st. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $80.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, November 1st. Needham & Company LLC raised Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating and boosted their price target for the stock from $78.00 to $90.00 in a research report on Wednesday, November 1st. William Blair raised Cognizant Technology Solutions Corporation from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 1st. Finally, BMO Capital Markets boosted their price target on Cognizant Technology Solutions Corporation from $76.00 to $78.00 and gave the stock an “outperform” rating in a research report on Thursday, November 2nd. Five investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $81.19.

Several hedge funds have recently added to or reduced their stakes in the company. Cetera Advisors LLC bought a new position in shares of Cognizant Technology Solutions Corporation during the 3rd quarter worth about $408,000. Yellowstone Partners LLC bought a new position in shares of Cognizant Technology Solutions Corporation during the 3rd quarter worth about $3,813,000. Insight Capital Research & Management Inc. bought a new position in shares of Cognizant Technology Solutions Corporation during the 3rd quarter worth about $1,971,000. Guardian Capital LP boosted its position in shares of Cognizant Technology Solutions Corporation by 6.5% during the 3rd quarter. Guardian Capital LP now owns 220,631 shares of the information technology service provider’s stock worth $16,005,000 after purchasing an additional 13,392 shares in the last quarter. Finally, Argent Capital Management LLC boosted its position in shares of Cognizant Technology Solutions Corporation by 50.5% during the 3rd quarter. Argent Capital Management LLC now owns 864,620 shares of the information technology service provider’s stock worth $62,720,000 after purchasing an additional 290,300 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

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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