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.
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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