Cognizant Technology Solutions Corp (NASDAQ:CTSH) Director John Nelson Fox, Jr. sold 5,560 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $84.05, for a total transaction of $467,318.00. Following the completion of the sale, the director now owns 41,150 shares in the company, valued at $3,458,657.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
CTSH stock traded down $1.85 during midday trading on Friday, reaching $79.07. 3,552,935 shares of the company were exchanged, compared to its average volume of 3,427,589. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.21 and a quick ratio of 3.21. Cognizant Technology Solutions Corp has a one year low of $57.50 and a one year high of $85.10. The stock has a market cap of $46,497.20, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, February 7th. The information technology service provider reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.15. Cognizant Technology Solutions had a net margin of 10.15% and a return on equity of 19.94%. The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the previous year, the business posted $0.87 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. research analysts anticipate that Cognizant Technology Solutions Corp will post 4.21 EPS for the current fiscal year.
A number of analysts have recently issued reports on CTSH shares. BidaskClub downgraded shares of Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Tuesday, January 2nd. Morgan Stanley lifted their price objective on shares of Cognizant Technology Solutions from $77.00 to $84.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Citigroup upgraded shares of Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $75.84 to $79.00 in a report on Thursday, January 18th. Finally, ValuEngine upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and three have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $84.22.
Institutional investors have recently made changes to their positions in the company. Shine Investment Advisory Services Inc. boosted its position in shares of Cognizant Technology Solutions by 108.8% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock valued at $107,000 after acquiring an additional 788 shares during the period. Vestpro Financial Partners Inc. dba CPF Texas bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at about $107,000. Clearbridge Investments LLC boosted its position in shares of Cognizant Technology Solutions by 101.2% in the fourth quarter. Clearbridge Investments LLC now owns 1,616 shares of the information technology service provider’s stock valued at $115,000 after acquiring an additional 813 shares during the period. Bank of Nova Scotia Trust Co. bought a new stake in shares of Cognizant Technology Solutions in the third quarter valued at about $121,000. Finally, Cerebellum GP LLC bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at about $128,000. 88.74% of the stock is owned by institutional investors.
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About Cognizant Technology Solutions
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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