Cognizant Technology Solutions Corporation (CTSH) General Counsel Sells $201,427.30 in Stock

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) General Counsel Matthew W. Friedrich sold 2,711 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $74.30, for a total value of $201,427.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded down $2.32 during mid-day trading 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. 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 current ratio of 3.29 and a quick ratio of 3.29. The firm has a market cap of $44,450.00, a price-to-earnings ratio of 22.38, a P/E/G ratio of 1.69 and a beta of 1.10.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.13. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.77 billion. Cognizant Technology Solutions Corporation had a net margin of 13.42% and a return on equity of 18.94%. The company’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 EPS. research analysts predict 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. Stockholders of record on Monday, November 20th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, November 17th. Cognizant Technology Solutions Corporation’s payout ratio is currently 18.58%.

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CTSH has been the subject of several recent research reports. Cowen and Company reiterated a “buy” rating and set a $75.00 target price on shares of Cognizant Technology Solutions Corporation in a research note on Friday, July 28th. Vetr upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $71.62 target price for the company in a research note on Wednesday, August 2nd. Loop Capital upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and increased their target price for the stock from $63.00 to $83.00 in a research note 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 restated 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 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 stock. Cognizant Technology Solutions Corporation has a consensus rating of “Buy” and an average price target of $81.19.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Linscomb & Williams Inc. bought a new stake in shares of Cognizant Technology Solutions Corporation during the 3rd quarter valued at about $278,000. Robeco Institutional Asset Management B.V. grew its position in Cognizant Technology Solutions Corporation by 45.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 143,385 shares of the information technology service provider’s stock worth $10,401,000 after purchasing an additional 44,982 shares during the last quarter. Comgest Global Investors S.A.S. grew its position in Cognizant Technology Solutions Corporation by 57.7% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 5,954,817 shares of the information technology service provider’s stock worth $395,400,000 after purchasing an additional 2,178,800 shares during the last quarter. Oak Ridge Investments LLC grew its position in Cognizant Technology Solutions Corporation by 7.1% in the 2nd quarter. Oak Ridge Investments LLC now owns 169,645 shares of the information technology service provider’s stock worth $11,264,000 after purchasing an additional 11,316 shares during the last quarter. Finally, Atlantic Trust Group LLC grew its position in Cognizant Technology Solutions Corporation by 1.3% in the 2nd quarter. Atlantic Trust Group LLC now owns 637,050 shares of the information technology service provider’s stock worth $42,300,000 after purchasing an additional 8,245 shares during the last quarter. 86.99% of the stock is 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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