Cognizant Technology Solutions Corp (CTSH) CFO Sells $1,025,659.22 in Stock
Cognizant Technology Solutions Corp (NASDAQ:CTSH) CFO Karen Mcloughlin sold 14,369 shares of the stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $71.38, for a total value of $1,025,659.22. Following the sale, the chief financial officer now owns 42,718 shares in the company, valued at $3,049,210.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Karen Mcloughlin also recently made the following trade(s):
- On Thursday, November 30th, Karen Mcloughlin sold 9,482 shares of Cognizant Technology Solutions stock. The shares were sold at an average price of $72.24, for a total value of $684,979.68.
Cognizant Technology Solutions Corp (NASDAQ CTSH) traded up $0.21 during midday trading on Monday, reaching $71.82. The company had a trading volume of 3,330,000 shares, compared to its average volume of 3,984,970. The stock has a market capitalization of $42,348.30, a P/E ratio of 21.44, a PEG ratio of 1.62 and a beta of 1.07. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions Corp has a 12 month low of $51.52 and a 12 month high of $76.51.
Cognizant Technology Solutions (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, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.13. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. Cognizant Technology Solutions’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 earnings per share. sell-side analysts anticipate that Cognizant Technology Solutions Corp will post 3.35 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Monday, November 20th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 17th. This represents a $0.60 annualized dividend and a yield of 0.84%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 18.52%.
Several brokerages have commented on CTSH. Vetr upgraded Cognizant Technology Solutions from a “sell” rating to a “buy” rating and set a $76.85 target price on the stock in a research note on Tuesday, September 19th. Barclays raised their price target on Cognizant Technology Solutions from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. They noted that the move was a valuation call. Wedbush restated an “outperform” rating on shares of Cognizant Technology Solutions in a research note on Monday, September 18th. Cantor Fitzgerald restated a “buy” rating and issued a $78.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, November 1st. Finally, William Blair upgraded Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research note on Wednesday, November 1st. Six equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $81.91.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTSH. AXA raised its holdings in Cognizant Technology Solutions by 11.3% during the third quarter. AXA now owns 371,160 shares of the information technology service provider’s stock valued at $26,924,000 after acquiring an additional 37,600 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in Cognizant Technology Solutions during the third quarter valued at about $1,770,000. Public Employees Retirement System of Ohio raised its holdings in Cognizant Technology Solutions by 0.4% during the third quarter. Public Employees Retirement System of Ohio now owns 423,088 shares of the information technology service provider’s stock valued at $30,691,000 after acquiring an additional 1,489 shares during the period. Crestwood Advisors Group LLC raised its holdings in Cognizant Technology Solutions by 0.6% during the third quarter. Crestwood Advisors Group LLC now owns 231,532 shares of the information technology service provider’s stock valued at $16,795,000 after acquiring an additional 1,349 shares during the period. Finally, Cetera Advisors LLC bought a new stake in Cognizant Technology Solutions during the third quarter valued at about $408,000. Institutional investors own 87.06% of the company’s stock.
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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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