Cognizant Technology Solutions Corp (NASDAQ:CTSH) General Counsel Matthew W. Friedrich sold 457 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $69.15, for a total transaction of $31,601.55. Following the transaction, the general counsel now directly owns 2,518 shares in the company, valued at $174,119.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Cognizant Technology Solutions stock traded up $0.59 on Wednesday, reaching $70.72. The stock had a trading volume of 3,158,009 shares, compared to its average volume of 3,753,741. The business’s 50-day moving average price is $67.06 and its two-hundred day moving average price is $57.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.66 and a current ratio of 2.66. Cognizant Technology Solutions Corp has a fifty-two week low of $40.01 and a fifty-two week high of $71.81. The stock has a market cap of $38.35 billion, a P/E ratio of 24.18, a price-to-earnings-growth ratio of 1.77 and a beta of 1.20.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, July 29th. The information technology service provider reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.14. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.84 billion. Cognizant Technology Solutions had a net margin of 9.67% and a return on equity of 19.87%. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 EPS. As a group, equities analysts forecast that Cognizant Technology Solutions Corp will post 3.55 earnings per share for the current fiscal year.
CTSH has been the topic of a number of research analyst reports. Bank of America raised shares of Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $67.00 to $76.00 in a research report on Friday, September 11th. Morgan Stanley boosted their target price on shares of Cognizant Technology Solutions from $51.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. Royal Bank of Canada boosted their target price on shares of Cognizant Technology Solutions from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. BMO Capital Markets raised shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $64.00 to $70.00 in a research report on Wednesday, July 15th. Finally, Citigroup boosted their target price on shares of Cognizant Technology Solutions from $66.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $68.27.
Large investors have recently added to or reduced their stakes in the stock. Kore Private Wealth LLC raised its stake in Cognizant Technology Solutions by 144.8% during the 2nd quarter. Kore Private Wealth LLC now owns 475 shares of the information technology service provider’s stock valued at $26,000 after purchasing an additional 281 shares during the last quarter. Ovata Capital Management Ltd acquired a new position in Cognizant Technology Solutions during the 2nd quarter valued at $36,000. tru Independence LLC raised its stake in Cognizant Technology Solutions by 266.7% during the 2nd quarter. tru Independence LLC now owns 825 shares of the information technology service provider’s stock valued at $47,000 after purchasing an additional 600 shares during the last quarter. Smithfield Trust Co. raised its stake in Cognizant Technology Solutions by 96.3% during the 2nd quarter. Smithfield Trust Co. now owns 1,162 shares of the information technology service provider’s stock valued at $66,000 after purchasing an additional 570 shares during the last quarter. Finally, Pathstone Family Office LLC raised its stake in Cognizant Technology Solutions by 246.9% during the 1st quarter. Pathstone Family Office LLC now owns 1,561 shares of the information technology service provider’s stock valued at $73,000 after purchasing an additional 1,111 shares during the last quarter. Hedge funds and other institutional investors own 89.68% of the company’s stock.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.
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