Traders Purchase High Volume of Cognizant Technology Solutions Call Options (CTSH)

Cognizant Technology Solutions Corp (NASDAQ:CTSH) was the target of unusually large options trading activity on Monday. Stock traders bought 12,008 call options on the company. This is an increase of approximately 1,480% compared to the typical volume of 760 call options.

Several brokerages recently issued reports on CTSH. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Wednesday. Vetr raised shares of Cognizant Technology Solutions from a “sell” rating to a “buy” rating and set a $76.85 price objective on the stock in a research report on Tuesday, September 19th. Barclays raised their price target on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, October 30th. They noted that the move was a valuation call. Wedbush reaffirmed an “outperform” rating on shares of Cognizant Technology Solutions in a report on Monday, September 18th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $78.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $81.75.

Shares of Cognizant Technology Solutions (NASDAQ:CTSH) opened at $74.56 on Friday. The stock has a market cap of $43,960.00, a P/E ratio of 23.08, a PEG ratio of 1.42 and a beta of 1.08. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions has a 1 year low of $51.52 and a 1 year high of $76.51.

Cognizant Technology Solutions (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, beating the consensus estimate of $0.85 by $0.13. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 earnings per share. sell-side analysts expect that Cognizant Technology Solutions will post 3.35 EPS for the current year.

In other Cognizant Technology Solutions news, insider Sumithra Gomatam sold 3,163 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $76.00, for a total value of $240,388.00. Following the completion of the transaction, the insider now directly owns 6,346 shares in the company, valued at approximately $482,296. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Francisco Dsouza sold 240,000 shares of the company’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $74.04, for a total transaction of $17,769,600.00. Following the completion of the transaction, the chief executive officer now owns 541,667 shares of the company’s stock, valued at $40,105,024.68. The disclosure for this sale can be found here. In the last three months, insiders sold 807,286 shares of company stock valued at $58,679,209. Corporate insiders own 1.08% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Dupont Capital Management Corp purchased a new position in shares of Cognizant Technology Solutions in the second quarter valued at $225,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Cognizant Technology Solutions by 250.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 98,403 shares of the information technology service provider’s stock valued at $6,533,000 after purchasing an additional 70,296 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Cognizant Technology Solutions by 11.6% in the second quarter. Pacer Advisors Inc. now owns 21,629 shares of the information technology service provider’s stock valued at $1,436,000 after purchasing an additional 2,251 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Cognizant Technology Solutions by 9.6% in the second quarter. Neuberger Berman Group LLC now owns 2,222,044 shares of the information technology service provider’s stock valued at $147,544,000 after purchasing an additional 194,984 shares in the last quarter. Finally, McKinley Carter Wealth Services Inc. grew its holdings in shares of Cognizant Technology Solutions by 6.2% in the second quarter. McKinley Carter Wealth Services Inc. now owns 34,950 shares of the information technology service provider’s stock valued at $2,321,000 after purchasing an additional 2,033 shares in the last quarter. Hedge funds and other institutional investors own 85.98% of the company’s stock.

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Cognizant Technology Solutions 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.

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