Cognizant Technology Solutions Corporation (CTSH) CEO Francisco Dsouza Sells 482,000 Shares

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) CEO Francisco Dsouza sold 482,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $72.04, for a total value of $34,723,280.00. Following the sale, the chief executive officer now directly owns 621,643 shares in the company, valued at approximately $44,783,161.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded down $0.06 during mid-day trading on Thursday, hitting $71.71. The company’s stock had a trading volume of 2,537,800 shares, compared to its average volume of 3,990,144. The firm has a market cap of $42,318.82, a P/E ratio of 21.42, a PEG ratio of 1.62 and a beta of 1.10. Cognizant Technology Solutions Corporation has a 52-week low of $51.35 and a 52-week high of $76.51. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29.

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 for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions Corporation had a return on equity of 18.94% and a net margin of 13.42%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the business posted $0.86 EPS. Cognizant Technology Solutions Corporation’s revenue for the quarter was up 9.1% on a year-over-year basis. analysts expect that Cognizant Technology Solutions Corporation will post 3.35 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Monday, November 20th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, November 17th. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is 18.52%.

COPYRIGHT VIOLATION NOTICE: “Cognizant Technology Solutions Corporation (CTSH) CEO Francisco Dsouza Sells 482,000 Shares” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://ledgergazette.com/2017/11/23/cognizant-technology-solutions-corporation-ctsh-ceo-francisco-dsouza-sells-482000-shares.html.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in shares of Cognizant Technology Solutions Corporation by 81.6% during the 2nd quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock valued at $1,664,366,000 after acquiring an additional 11,262,360 shares in the last quarter. Edgewood Management LLC boosted its holdings in shares of Cognizant Technology Solutions Corporation by 9.3% during 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 acquiring an additional 1,443,368 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Cognizant Technology Solutions Corporation by 3.2% during 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 acquiring an additional 313,364 shares in the last quarter. Comgest Global Investors S.A.S. boosted its holdings in shares of Cognizant Technology Solutions Corporation by 24.5% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 7,416,617 shares of the information technology service provider’s stock valued at $538,001,000 after acquiring an additional 1,461,800 shares in the last quarter. Finally, Pzena Investment Management LLC boosted its holdings in shares of Cognizant Technology Solutions Corporation by 4.4% during the 2nd quarter. Pzena Investment Management LLC now owns 7,010,880 shares of the information technology service provider’s stock valued at $465,522,000 after acquiring an additional 296,899 shares in the last quarter. 88.00% of the stock is currently owned by institutional investors.

A number of equities research analysts recently issued reports on CTSH shares. Zacks Investment Research raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Tuesday, October 10th. Robert W. Baird increased their price target on Cognizant Technology Solutions Corporation from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, October 19th. Bank of America Corporation reissued a “buy” rating and set a $86.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Tuesday, September 12th. SunTrust Banks, Inc. reissued a “buy” rating and set a $85.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Friday, November 3rd. Finally, KeyCorp reissued a “buy” rating and set a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Friday, September 8th. Five research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. Cognizant Technology Solutions Corporation currently 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)

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

Leave a Reply