Traders Sell Cognizant Technology Solutions (CTSH) on Strength (CTSH)

Investors sold shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) on strength during trading hours on Thursday. $34.08 million flowed into the stock on the tick-up and $78.59 million flowed out of the stock on the tick-down, for a money net flow of $44.51 million out of the stock. Of all companies tracked, Cognizant Technology Solutions had the 0th highest net out-flow for the day. Cognizant Technology Solutions traded up $1.13 for the day and closed at $72.68

Several analysts have issued reports on the stock. Barclays reaffirmed a “buy” rating and issued a $86.00 price objective on shares of Cognizant Technology Solutions in a research report on Friday. Vetr raised shares of Cognizant Technology Solutions from a “sell” rating to a “buy” rating and set a $76.85 price objective for the company in a research report on Tuesday, September 19th. Wedbush reaffirmed an “outperform” rating on shares of Cognizant Technology Solutions in a research report on Monday, September 18th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $78.00 price objective on shares of Cognizant Technology Solutions in a research report on Wednesday, November 1st. Finally, William Blair raised shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 1st. One equities 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 stock. Cognizant Technology Solutions currently has an average rating of “Buy” and a consensus price target of $81.68.

The firm has a market capitalization of $42,855.40, a price-to-earnings ratio of 22.62, a P/E/G ratio of 1.39 and a beta of 1.08. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07.

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

In other Cognizant Technology Solutions news, insider Sumithra Gomatam sold 3,163 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $76.00, for a total value of $240,388.00. Following the sale, the insider now directly owns 6,346 shares in the company, valued at $482,296. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Malcolm Frank sold 9,462 shares of the firm’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $70.61, for a total value of $668,111.82. Following the completion of the sale, the vice president now owns 15,533 shares in the company, valued at $1,096,785.13. The disclosure for this sale can be found here. In the last ninety days, insiders sold 569,476 shares of company stock valued at $41,071,682. 1.08% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of CTSH. Pathstone Family Office LLC raised its stake in shares of Cognizant Technology Solutions by 1,208.8% during the second quarter. Pathstone Family Office LLC now owns 1,479 shares of the information technology service provider’s stock valued at $2,485,000 after purchasing an additional 1,366 shares in the last quarter. Acrospire Investment Management LLC raised its stake in shares of Cognizant Technology Solutions by 92.6% during the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock valued at $110,000 after purchasing an additional 800 shares in the last quarter. Bank of Nova Scotia Trust Co. bought a new stake in shares of Cognizant Technology Solutions during the third quarter valued at about $121,000. WFG Advisors LP raised its stake in shares of Cognizant Technology Solutions by 46.4% during the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock valued at $130,000 after purchasing an additional 621 shares in the last quarter. Finally, Krilogy Financial LLC bought a new stake in shares of Cognizant Technology Solutions during the second quarter valued at about $137,000. Institutional investors own 85.98% of the company’s stock.

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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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