Investors Sell Shares of Cognizant Technology Solutions (CTSH) on Strength (CTSH)

Investors sold shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) on strength during trading hours on Tuesday. $37.11 million flowed into the stock on the tick-up and $79.37 million flowed out of the stock on the tick-down, for a money net flow of $42.26 million out of the stock. Of all companies tracked, Cognizant Technology Solutions had the 0th highest net out-flow for the day. Cognizant Technology Solutions traded up $0.42 for the day and closed at $82.19

CTSH has been the subject of a number of analyst reports. BidaskClub cut Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Zacks Investment Research upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Tuesday, January 2nd. Barclays restated a “buy” rating and issued a $86.00 price target on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Citigroup upgraded Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and increased their target price for the company from $75.84 to $79.00 in a research note on Thursday, January 18th. Finally, Morgan Stanley increased their target price on Cognizant Technology Solutions from $77.00 to $84.00 and gave the company an “equal weight” rating in a research note on Monday, February 5th. Six investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $84.22.

The company has a market capitalization of $48,331.91, a PE ratio of 23.43, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.21 and a quick ratio of 3.21.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.15. Cognizant Technology Solutions had a return on equity of 19.94% and a net margin of 10.15%. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period last year, the business posted $0.87 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. sell-side analysts forecast that Cognizant Technology Solutions Corp will post 4.21 EPS for the current fiscal year.

In other news, CFO Karen Mcloughlin sold 1,791 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $83.76, for a total transaction of $150,014.16. Following the transaction, the chief financial officer now directly owns 42,718 shares of the company’s stock, valued at $3,578,059.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Rajeev Mehta sold 42,563 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $77.50, for a total value of $3,298,632.50. Following the transaction, the president now directly owns 35,020 shares in the company, valued at $2,714,050. The disclosure for this sale can be found here. Insiders sold 288,508 shares of company stock worth $22,727,230 over the last ninety days. 1.08% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Vestpro Financial Partners Inc. dba CPF Texas acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at $107,000. Shine Investment Advisory Services Inc. increased its holdings in shares of Cognizant Technology Solutions by 108.8% during the fourth quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock valued at $107,000 after purchasing an additional 788 shares during the period. Clearbridge Investments LLC increased its holdings in shares of Cognizant Technology Solutions by 101.2% during the fourth quarter. Clearbridge Investments LLC now owns 1,616 shares of the information technology service provider’s stock valued at $115,000 after purchasing an additional 813 shares during the period. Cerebellum GP LLC acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at $128,000. Finally, Rational Advisors LLC acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at $178,000. 88.54% of the stock is currently owned by institutional investors.

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Cognizant Technology Solutions Company Profile

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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