Cognizant Technology Solutions Corp (NASDAQ:CTSH) Director Maureen Breakiron-Evans sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $81.01, for a total value of $1,620,200.00. Following the transaction, the director now owns 20,255 shares in the company, valued at approximately $1,640,857.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Cognizant Technology Solutions Corp (CTSH) opened at $81.61 on Friday. The company has a quick ratio of 3.29, a current ratio of 3.21 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions Corp has a 12 month low of $57.00 and a 12 month high of $83.56. The firm has a market capitalization of $48,098.40, a P/E ratio of 23.04, a P/E/G ratio of 1.54 and a beta of 1.11.
Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share for the quarter, beating the Zacks’ 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 the consensus estimate of $3.82 billion. During the same period in the previous year, the business earned $0.87 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. research analysts anticipate that Cognizant Technology Solutions Corp will post 4.21 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Thursday, February 22nd will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, February 21st. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 0.98%. Cognizant Technology Solutions’s payout ratio is currently 31.62%.
Several brokerages have weighed in on CTSH. BidaskClub downgraded Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. SunTrust Banks reiterated a “buy” rating and issued a $85.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, November 3rd. Zacks Investment Research upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Tuesday, January 2nd. Morgan Stanley lifted 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. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $89.00 target price (up from $80.00) on shares of Cognizant Technology Solutions in a research note on Thursday, November 2nd. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $85.43.
A number of hedge funds have recently modified their holdings of CTSH. Shine Investment Advisory Services Inc. raised its holdings in 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 worth $107,000 after purchasing an additional 788 shares during the last quarter. Vestpro Financial Partners Inc. dba CPF Texas acquired a new position in Cognizant Technology Solutions during the fourth quarter worth $107,000. Clearbridge Investments LLC raised its holdings in 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 worth $115,000 after purchasing an additional 813 shares during the last quarter. Bank of Nova Scotia Trust Co. acquired a new position in Cognizant Technology Solutions during the third quarter worth $121,000. Finally, Cerebellum GP LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter worth $128,000. 88.54% of the stock is owned by hedge funds and other institutional investors.
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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.
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