Michael Patsalos-Fox Sells 4,000 Shares of Cognizant Technology Solutions (NASDAQ:CTSH) Stock

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Director Michael Patsalos-Fox sold 4,000 shares of the firm’s stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $85.30, for a total value of $341,200.00. Following the sale, the director directly owned 37,729 shares in the company, valued at $3,218,283.70. The trade was a 9.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, December 22nd, Michael Patsalos-Fox sold 3,000 shares of Cognizant Technology Solutions stock. The shares were sold at an average price of $85.15, for a total value of $255,450.00.
• On Thursday, December 11th, Michael Patsalos-Fox sold 7,000 shares of Cognizant Technology Solutions stock. The stock was sold at an average price of $83.52, for a total value of $584,640.00.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $84.14 on Wednesday. The stock has a 50 day simple moving average of $77.21 and a 200 day simple moving average of $73.96. Cognizant Technology Solutions Corporation has a 52-week low of $65.15 and a 52-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 firm has a market capitalization of $40.61 billion, a PE ratio of 19.52, a P/E/G ratio of 1.74 and a beta of 0.97.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.09. Cognizant Technology Solutions had a net margin of 10.20% and a return on equity of 17.00%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Sell-side analysts predict that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, November 18th. Cognizant Technology Solutions’s dividend payout ratio is 28.77%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CTSH shares. UBS Group reaffirmed a “neutral” rating and set a $82.00 price objective (up from $78.00) on shares of Cognizant Technology Solutions in a research report on Monday, December 8th. Wells Fargo & Company upped their price target on Cognizant Technology Solutions from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Royal Bank Of Canada lowered their price objective on shares of Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating on the stock in a report on Thursday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of Cognizant Technology Solutions from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, William Blair upgraded shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research note on Friday, November 21st. Seven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $85.44.

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of institutional investors have recently bought and sold shares of CTSH. Brighton Jones LLC bought a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $214,000. AlphaQuest LLC bought a new position in Cognizant Technology Solutions during the first quarter worth $152,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cognizant Technology Solutions by 9.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 18,877 shares of the information technology service provider’s stock valued at $1,444,000 after purchasing an additional 1,588 shares during the last quarter. Jump Financial LLC increased its holdings in shares of Cognizant Technology Solutions by 55.5% in the first quarter. Jump Financial LLC now owns 8,951 shares of the information technology service provider’s stock valued at $685,000 after purchasing an additional 3,196 shares during the last quarter. Finally, State of Wyoming lifted its stake in shares of Cognizant Technology Solutions by 5.1% during the 1st quarter. State of Wyoming now owns 6,160 shares of the information technology service provider’s stock worth $471,000 after buying an additional 299 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.