Cognizant Technology Solutions Corp (NASDAQ:CTSH) Director John E. Klein sold 10,000 shares of Cognizant Technology Solutions stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $63.94, for a total transaction of $639,400.00. Following the completion of the sale, the director now directly owns 459,987 shares in the company, valued at approximately $29,411,568.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Cognizant Technology Solutions stock traded down $0.35 during midday trading on Wednesday, reaching $62.40. The stock had a trading volume of 1,141,145 shares, compared to its average volume of 2,277,476. The stock’s 50-day simple moving average is $62.19 and its 200 day simple moving average is $62.49. Cognizant Technology Solutions Corp has a twelve month low of $56.73 and a twelve month high of $74.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.53 and a current ratio of 2.53. The stock has a market capitalization of $35.10 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.47 and a beta of 1.04.
Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.03. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.21 billion. Cognizant Technology Solutions had a return on equity of 20.23% and a net margin of 12.60%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. Equities analysts predict that Cognizant Technology Solutions Corp will post 3.97 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Monday, November 18th. Cognizant Technology Solutions’s payout ratio is currently 19.90%.
A number of institutional investors and hedge funds have recently bought and sold shares of CTSH. Cedar Capital LLC increased its position in shares of Cognizant Technology Solutions by 12.4% in the second quarter. Cedar Capital LLC now owns 31,533 shares of the information technology service provider’s stock worth $1,999,000 after acquiring an additional 3,486 shares in the last quarter. California Public Employees Retirement System boosted its position in Cognizant Technology Solutions by 7.8% during the 3rd quarter. California Public Employees Retirement System now owns 3,972,744 shares of the information technology service provider’s stock worth $239,417,000 after purchasing an additional 285,994 shares during the period. Fiera Capital Corp boosted its position in Cognizant Technology Solutions by 2.2% during the 2nd quarter. Fiera Capital Corp now owns 285,226 shares of the information technology service provider’s stock worth $18,080,000 after purchasing an additional 6,190 shares during the period. Dupont Capital Management Corp acquired a new stake in Cognizant Technology Solutions in the 3rd quarter valued at $476,000. Finally, Johnson Financial Group Inc. increased its holdings in Cognizant Technology Solutions by 76.5% in the 2nd quarter. Johnson Financial Group Inc. now owns 4,107 shares of the information technology service provider’s stock valued at $260,000 after purchasing an additional 1,780 shares in the last quarter. 91.45% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently issued reports on CTSH. Zacks Investment Research cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and set a $66.00 price target for the company. in a report on Thursday, September 5th. Edward Jones raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Credit Suisse Group decreased their price target on Cognizant Technology Solutions from $83.00 to $81.00 and set an “outperform” rating on the stock in a research note on Monday, September 23rd. BidaskClub lowered Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a report on Friday, October 11th. Finally, Barclays started coverage on Cognizant Technology Solutions in a research report on Friday, September 20th. They issued an “underweight” rating and a $64.00 price objective for the company. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $70.72.
About Cognizant Technology Solutions
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.
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