Insider Selling: Cognizant Technology Solutions Corp (CTSH) Director Sells $126,368.00 in Stock

Cognizant Technology Solutions Corp (NASDAQ:CTSH) Director Leo S. Jr. Mackay sold 1,600 shares of Cognizant Technology Solutions stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $78.98, for a total value of $126,368.00. Following the sale, the director now directly owns 11,054 shares in the company, valued at approximately $873,044.92. The sale was disclosed in a document filed with the SEC, which is available at this link.

Cognizant Technology Solutions stock opened at $77.68 on Friday. The company has a current ratio of 3.64, a quick ratio of 3.64 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $46.18 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 1.50 and a beta of 1.05. Cognizant Technology Solutions Corp has a 52 week low of $65.60 and a 52 week high of $85.10.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Monday, May 7th. The information technology service provider reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.90 billion. Cognizant Technology Solutions had a return on equity of 20.48% and a net margin of 9.67%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.84 earnings per share. research analysts anticipate that Cognizant Technology Solutions Corp will post 4.16 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 31st. Stockholders of record on Tuesday, May 22nd were given a dividend of $0.20 per share. The ex-dividend date was Monday, May 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.03%. Cognizant Technology Solutions’s payout ratio is currently 22.66%.

Several analysts have recently weighed in on the company. BidaskClub raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Saturday, June 16th. Zacks Investment Research lowered Cognizant Technology Solutions from a “buy” rating to a “sell” rating in a report on Wednesday, May 9th. Credit Suisse Group set a $95.00 price objective on Cognizant Technology Solutions and gave the stock a “buy” rating in a report on Tuesday, May 8th. Morgan Stanley decreased their price objective on Cognizant Technology Solutions to $88.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 8th. Finally, ValuEngine lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Monday, May 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $86.09.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Cognizant Technology Solutions by 10.9% during the first quarter. BlackRock Inc. now owns 40,069,496 shares of the information technology service provider’s stock worth $3,225,593,000 after acquiring an additional 3,948,014 shares during the last quarter. Edgewood Management LLC raised its position in shares of Cognizant Technology Solutions by 3.5% during the first quarter. Edgewood Management LLC now owns 17,723,514 shares of the information technology service provider’s stock worth $1,426,743,000 after acquiring an additional 596,707 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Cognizant Technology Solutions by 0.7% during the first quarter. Franklin Resources Inc. now owns 10,892,663 shares of the information technology service provider’s stock worth $876,853,000 after acquiring an additional 77,616 shares during the last quarter. Comgest Global Investors S.A.S. raised its position in shares of Cognizant Technology Solutions by 18.3% during the fourth quarter. Comgest Global Investors S.A.S. now owns 8,774,817 shares of the information technology service provider’s stock worth $623,188,000 after acquiring an additional 1,358,200 shares during the last quarter. Finally, Pzena Investment Management LLC raised its position in shares of Cognizant Technology Solutions by 2.8% during the fourth quarter. Pzena Investment Management LLC now owns 7,119,634 shares of the information technology service provider’s stock worth $505,636,000 after acquiring an additional 194,583 shares during the last quarter. Institutional investors own 87.94% of the company’s stock.

About Cognizant Technology Solutions

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 business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

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

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