Insider Selling: Cognizant Technology Solutions Corp (NASDAQ:CTSH) Insider Sells 3,000 Shares of Stock

Cognizant Technology Solutions Corp (NASDAQ:CTSH) insider Gajakarnan Vibushanan Kandiah sold 3,000 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $72.18, for a total transaction of $216,540.00. Following the sale, the insider now directly owns 7,724 shares of the company’s stock, valued at $557,518.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Cognizant Technology Solutions Corp (NASDAQ CTSH) traded up $0.55 on Friday, reaching $74.56. 3,767,600 shares of the company’s stock were exchanged, compared to its average volume of 3,740,000. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $43,960.00, a PE ratio of 23.08, a price-to-earnings-growth ratio of 1.42 and a beta of 1.08. Cognizant Technology Solutions Corp has a 52-week low of $51.52 and a 52-week high of $76.51.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.13. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 earnings per share. sell-side analysts expect that Cognizant Technology Solutions Corp will post 3.35 EPS for the current year.

Several research firms have recently commented on CTSH. Zacks Investment Research raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Wednesday. Vetr raised shares of Cognizant Technology Solutions from a “sell” rating to a “buy” rating and set a $76.85 target price for the company in a research report on Tuesday, September 19th. Barclays boosted their target price on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. Wedbush restated an “outperform” rating on shares of Cognizant Technology Solutions in a report on Monday, September 18th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $78.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $81.75.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTSH. Comerica Securities Inc. lifted its stake in shares of Cognizant Technology Solutions by 0.4% during the 2nd quarter. Comerica Securities Inc. now owns 7,810 shares of the information technology service provider’s stock valued at $519,000 after buying an additional 32 shares in the last quarter. CWA Asset Management Group LLC lifted its stake in shares of Cognizant Technology Solutions by 1.0% during the 2nd quarter. CWA Asset Management Group LLC now owns 5,717 shares of the information technology service provider’s stock valued at $380,000 after buying an additional 57 shares in the last quarter. Westover Capital Advisors LLC lifted its stake in shares of Cognizant Technology Solutions by 2.2% during the 2nd quarter. Westover Capital Advisors LLC now owns 3,885 shares of the information technology service provider’s stock valued at $258,000 after buying an additional 83 shares in the last quarter. Frontier Wealth Management LLC lifted its stake in shares of Cognizant Technology Solutions by 1.0% during the 2nd quarter. Frontier Wealth Management LLC now owns 10,099 shares of the information technology service provider’s stock valued at $671,000 after buying an additional 99 shares in the last quarter. Finally, Blair William & Co. IL lifted its stake in shares of Cognizant Technology Solutions by 0.3% during the 2nd quarter. Blair William & Co. IL now owns 32,694 shares of the information technology service provider’s stock valued at $2,171,000 after buying an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 85.98% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This piece of content was first reported by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are viewing this piece of content on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark laws. The legal version of this piece of content can be read at https://www.thelincolnianonline.com/2018/01/13/insider-selling-cognizant-technology-solutions-corp-ctsh-insider-sells-216540-00-in-stock-updated-updated.html.

About Cognizant Technology Solutions

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.

Insider Buying and Selling by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply