Michael Patsalos-Fox Sells 3,000 Shares of Cognizant Technology Solutions (NASDAQ:CTSH) Stock

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Director Michael Patsalos-Fox sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $85.15, for a total value of $255,450.00. Following the sale, the director owned 41,729 shares of the company’s stock, valued at approximately $3,553,224.35. This trade represents a 6.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Michael Patsalos-Fox also recently made the following trade(s):

• On Wednesday, December 24th, Michael Patsalos-Fox sold 4,000 shares of Cognizant Technology Solutions stock. The stock was sold at an average price of $85.30, for a total transaction of $341,200.00.
• On Thursday, December 11th, Michael Patsalos-Fox sold 7,000 shares of Cognizant Technology Solutions stock. The shares were sold at an average price of $83.52, for a total transaction of $584,640.00.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $85.58 on Monday. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.15 and a fifty-two week high of $90.82. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.36 and a current ratio of 2.36. The company has a 50 day moving average price of $76.54 and a 200 day moving average price of $73.89. The stock has a market capitalization of $41.31 billion, a P/E ratio of 19.86, a PEG ratio of 1.75 and a beta of 0.97.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.09. Cognizant Technology Solutions had a return on equity of 17.00% and a net margin of 10.20%.The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. The firm’s revenue was up 7.5% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Equities research analysts forecast that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. Cognizant Technology Solutions’s payout ratio is currently 28.77%.

Analyst Ratings Changes

Several equities analysts recently commented on CTSH shares. Wells Fargo & Company increased their target price on Cognizant Technology Solutions from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Royal Bank Of Canada decreased their target price on Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating for the company in a research note on Thursday, October 30th. Mizuho set a $85.00 price target on Cognizant Technology Solutions in a report on Thursday, October 30th. William Blair raised shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a report on Friday, November 21st. Finally, UBS Group reaffirmed a “neutral” rating and issued a $82.00 target price (up from $78.00) on shares of Cognizant Technology Solutions in a research report on Monday, December 8th. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and an average price target of $85.44.

Institutional Trading of Cognizant Technology Solutions

Institutional investors have recently made changes to their positions in the stock. AIA Group Ltd increased its position in shares of Cognizant Technology Solutions by 275.6% during the third quarter. AIA Group Ltd now owns 60,233 shares of the information technology service provider’s stock valued at $4,040,000 after purchasing an additional 44,196 shares during the period. Hudson Bay Capital Management LP bought a new stake in Cognizant Technology Solutions in the third quarter valued at about $226,000. IFP Advisors Inc boosted its holdings in Cognizant Technology Solutions by 13.7% during the third quarter. IFP Advisors Inc now owns 11,760 shares of the information technology service provider’s stock valued at $789,000 after purchasing an additional 1,418 shares in the last quarter. Swiss Life Asset Management Ltd raised its holdings in shares of Cognizant Technology Solutions by 40.0% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 185,409 shares of the information technology service provider’s stock worth $12,435,000 after buying an additional 52,990 shares in the last quarter. Finally, Groupama Asset Managment acquired a new position in Cognizant Technology Solutions during the third quarter worth $518,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions (NASDAQ: CTSH) is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.

Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.