Michael Patsalos-Fox Sells 7,000 Shares of Cognizant Technology Solutions (NASDAQ:CTSH) Stock

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Director Michael Patsalos-Fox sold 7,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $83.52, for a total transaction of $584,640.00. Following the completion of the transaction, the director owned 47,729 shares in the company, valued at approximately $3,986,326.08. The trade was a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Cognizant Technology Solutions Trading Up 0.1%

CTSH traded up $0.11 during trading on Monday, hitting $84.05. 5,569,438 shares of the stock were exchanged, compared to its average volume of 4,036,223. The firm has a market cap of $40.57 billion, a price-to-earnings ratio of 19.50, a P/E/G ratio of 1.71 and a beta of 0.97. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.36 and a current ratio of 2.36. Cognizant Technology Solutions Corporation has a 1 year low of $65.15 and a 1 year high of $90.82. The firm has a 50 day simple moving average of $73.00 and a 200 day simple moving average of $73.58.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share for the quarter, topping 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 company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. The firm’s revenue for the quarter 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. As a group, equities analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

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

Institutional Trading of Cognizant Technology Solutions

Large investors have recently added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Cognizant Technology Solutions in the 2nd quarter worth approximately $74,917,000. State Street Corp boosted its holdings in shares of Cognizant Technology Solutions by 0.6% in the 2nd quarter. State Street Corp now owns 25,381,572 shares of the information technology service provider’s stock valued at $1,980,524,000 after acquiring an additional 157,427 shares during the last quarter. Summit Global Investments increased its stake in shares of Cognizant Technology Solutions by 245.1% in the second quarter. Summit Global Investments now owns 35,588 shares of the information technology service provider’s stock worth $2,777,000 after acquiring an additional 25,276 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Cognizant Technology Solutions by 6.8% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 174,287 shares of the information technology service provider’s stock worth $13,600,000 after purchasing an additional 11,037 shares during the last quarter. Finally, Amundi lifted its position in Cognizant Technology Solutions by 5.2% during the second quarter. Amundi now owns 4,755,344 shares of the information technology service provider’s stock valued at $381,135,000 after purchasing an additional 235,432 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CTSH. JPMorgan Chase & Co. boosted their price target on Cognizant Technology Solutions from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Citigroup started coverage on shares of Cognizant Technology Solutions in a report on Thursday, October 23rd. They issued a “neutral” rating and a $75.00 target price for the company. Royal Bank Of Canada lowered their price target 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. Mizuho set a $85.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday, October 30th. Finally, UBS Group restated a “neutral” rating and issued a $82.00 target price (up from $78.00) on shares of Cognizant Technology Solutions in a research note on Monday, December 8th. Seven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $85.44.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.