Cognizant Technology Solutions Corp (NASDAQ:CTSH) VP Malcolm Frank sold 3,190 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $70.48, for a total transaction of $224,831.20. Following the completion of the transaction, the vice president now owns 22,881 shares in the company, valued at approximately $1,612,652.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Cognizant Technology Solutions stock traded down $1.16 during midday trading on Friday, reaching $68.24. The stock had a trading volume of 216,324 shares, compared to its average volume of 3,426,011. Cognizant Technology Solutions Corp has a twelve month low of $65.14 and a twelve month high of $85.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.24 and a current ratio of 3.24. The firm has a market capitalization of $40.54 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 1.51 and a beta of 0.95.
Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Tuesday, October 30th. The information technology service provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.06. Cognizant Technology Solutions had a net margin of 9.07% and a return on equity of 22.54%. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the business posted $0.98 EPS. The company’s revenue was up 8.3% on a year-over-year basis. Equities analysts forecast that Cognizant Technology Solutions Corp will post 4.18 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Tuesday, November 20th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Monday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is 22.66%.
Several research analysts have issued reports on CTSH shares. Morgan Stanley decreased their price target on shares of Cognizant Technology Solutions from $87.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, October 31st. Moffett Nathanson started coverage on shares of Cognizant Technology Solutions in a research report on Thursday, October 4th. They issued a “neutral” rating and a $85.00 price target on the stock. Cowen lowered shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and set a $67.98 price target on the stock. in a research report on Sunday, December 2nd. BMO Capital Markets restated a “buy” rating and issued a $82.00 price target on shares of Cognizant Technology Solutions in a research report on Tuesday, October 30th. Finally, Bank of America lowered shares of Cognizant Technology Solutions from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $91.00 to $81.00 in a research report on Tuesday, September 4th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $82.34.
A number of institutional investors have recently bought and sold shares of CTSH. Willingdon Wealth Management acquired a new stake in shares of Cognizant Technology Solutions during the 3rd quarter valued at $120,000. Fort L.P. acquired a new stake in shares of Cognizant Technology Solutions during the 2nd quarter valued at $123,000. Johnson Financial Group Inc. boosted its stake in shares of Cognizant Technology Solutions by 2,434.4% during the 3rd quarter. Johnson Financial Group Inc. now owns 1,622 shares of the information technology service provider’s stock valued at $125,000 after buying an additional 1,558 shares during the period. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of Cognizant Technology Solutions during the 3rd quarter valued at $134,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in shares of Cognizant Technology Solutions during the 3rd quarter valued at $146,000. 86.37% of the stock is owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY NOTICE: “Cognizant Technology Solutions Corp (CTSH) VP Malcolm Frank Sells 3,190 Shares of Stock” was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another publication, it was stolen and republished in violation of international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.dispatchtribunal.com/2018/12/07/cognizant-technology-solutions-corp-ctsh-vp-malcolm-frank-sells-3190-shares-of-stock.html.
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 business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.
Further Reading: Hedge Funds – Risk or Reward?
Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.