Cognizant Technology Solutions Corp (NASDAQ:CTSH) CFO Sells $98,873.16 in Stock

Cognizant Technology Solutions Corp (NASDAQ:CTSH) CFO Karen Mcloughlin sold 1,523 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $64.92, for a total value of $98,873.16. Following the transaction, the chief financial officer now owns 66,043 shares of the company’s stock, valued at approximately $4,287,511.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Karen Mcloughlin also recently made the following trade(s):

  • On Friday, September 6th, Karen Mcloughlin sold 1,000 shares of Cognizant Technology Solutions stock. The stock was sold at an average price of $64.27, for a total value of $64,270.00.
  • On Tuesday, July 9th, Karen Mcloughlin sold 7,905 shares of Cognizant Technology Solutions stock. The stock was sold at an average price of $64.28, for a total value of $508,133.40.
  • On Monday, June 24th, Karen Mcloughlin sold 316 shares of Cognizant Technology Solutions stock. The stock was sold at an average price of $64.09, for a total value of $20,252.44.

Shares of Cognizant Technology Solutions stock traded down $0.51 on Friday, reaching $64.33. 2,103,403 shares of the company were exchanged, compared to its average volume of 4,365,928. The stock has a fifty day moving average price of $62.74 and a 200-day moving average price of $65.94. The firm has a market capitalization of $35.76 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.13. Cognizant Technology Solutions Corp has a fifty-two week low of $56.73 and a fifty-two week high of $77.87.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.01. The firm had revenue of $4.14 billion for the quarter, compared to analyst estimates of $4.13 billion. Cognizant Technology Solutions had a return on equity of 20.52% and a net margin of 12.61%. Cognizant Technology Solutions’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 earnings per share. On average, equities analysts anticipate that Cognizant Technology Solutions Corp will post 3.96 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 22nd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Wednesday, August 21st. Cognizant Technology Solutions’s payout ratio is 19.90%.

A number of large investors have recently bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Cognizant Technology Solutions by 17.5% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 522,136 shares of the information technology service provider’s stock valued at $33,098,000 after buying an additional 77,588 shares during the period. Rehmann Capital Advisory Group grew its stake in Cognizant Technology Solutions by 7.4% in the second quarter. Rehmann Capital Advisory Group now owns 5,646 shares of the information technology service provider’s stock valued at $358,000 after purchasing an additional 389 shares in the last quarter. Mackenzie Financial Corp grew its stake in Cognizant Technology Solutions by 51.1% in the second quarter. Mackenzie Financial Corp now owns 103,122 shares of the information technology service provider’s stock valued at $6,537,000 after purchasing an additional 34,870 shares in the last quarter. BlackRock Inc. grew its stake in Cognizant Technology Solutions by 3.7% in the second quarter. BlackRock Inc. now owns 48,909,575 shares of the information technology service provider’s stock valued at $3,100,379,000 after purchasing an additional 1,756,108 shares in the last quarter. Finally, Chartwell Investment Partners LLC boosted its stake in Cognizant Technology Solutions by 3.0% during the 2nd quarter. Chartwell Investment Partners LLC now owns 46,471 shares of the information technology service provider’s stock valued at $2,946,000 after purchasing an additional 1,358 shares during the period. 91.52% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on CTSH. Robert W. Baird set a $76.00 price target on Cognizant Technology Solutions and gave the stock a “buy” rating in a research report on Friday, September 6th. Zacks Investment Research lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating and set a $66.00 price objective for the company. in a report on Thursday, September 5th. ValuEngine upgraded Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. UBS Group lowered Cognizant Technology Solutions from a “neutral” rating to a “sell” rating and cut their price objective for the company from $62.00 to $60.00 in a report on Friday, August 2nd. Finally, TheStreet upgraded Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a report on Tuesday, July 23rd. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the company’s stock. Cognizant Technology Solutions has a consensus rating of “Hold” and an average price target of $74.45.

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 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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