Cognizant Technology Solutions Corp (CTSH) President Sells $3,230,000.00 in Stock

Cognizant Technology Solutions Corp (NASDAQ:CTSH) President Rajeev Mehta sold 42,500 shares of the firm’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $76.00, for a total value of $3,230,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cognizant Technology Solutions Corp (CTSH) traded up $0.54 during mid-day trading on Friday, hitting $77.29. The company had a trading volume of 3,180,000 shares, compared to its average volume of 3,770,000. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.29 and a quick ratio of 3.29. The company has a market capitalization of $45,570.00, a P/E ratio of 23.93, a P/E/G ratio of 1.45 and a beta of 1.08. Cognizant Technology Solutions Corp has a 12-month low of $51.52 and a 12-month high of $77.38.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Saratoga Research & Investment Management grew its stake in Cognizant Technology Solutions by 2.7% in the fourth quarter. Saratoga Research & Investment Management now owns 774,434 shares of the information technology service provider’s stock valued at $55,000,000 after purchasing an additional 20,335 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Cognizant Technology Solutions by 718.8% in the fourth quarter. State of Alaska Department of Revenue now owns 69,270 shares of the information technology service provider’s stock valued at $4,918,000 after purchasing an additional 60,810 shares during the last quarter. Alta Capital Management LLC grew its stake in Cognizant Technology Solutions by 1.0% in the fourth quarter. Alta Capital Management LLC now owns 665,735 shares of the information technology service provider’s stock valued at $47,280,000 after purchasing an additional 6,659 shares during the last quarter. Fox Run Management L.L.C. grew its stake in Cognizant Technology Solutions by 67.5% in the fourth quarter. Fox Run Management L.L.C. now owns 18,430 shares of the information technology service provider’s stock valued at $1,309,000 after purchasing an additional 7,430 shares during the last quarter. Finally, Westpac Banking Corp grew its stake in Cognizant Technology Solutions by 16.7% in the fourth quarter. Westpac Banking Corp now owns 172,568 shares of the information technology service provider’s stock valued at $12,256,000 after purchasing an additional 24,683 shares during the last quarter. Institutional investors own 86.04% of the company’s stock.

Several analysts have recently weighed in on CTSH shares. Royal Bank of Canada reiterated a “buy” rating and set a $77.00 target price on shares of Cognizant Technology Solutions in a research report on Sunday, October 8th. Zacks Investment Research upgraded 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 Tuesday, October 10th. Jefferies Group reiterated a “buy” rating and set a $81.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, October 12th. Cowen reiterated a “buy” rating and set a $80.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, October 12th. Finally, KeyCorp reiterated a “buy” rating and set a $79.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, October 12th. Five investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $81.98.

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Cognizant Technology Solutions Company Profile

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)

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