Allen Shaheen Sells 1,232 Shares of Cognizant Technology Solutions Corp (CTSH) Stock

Cognizant Technology Solutions Corp (NASDAQ:CTSH) EVP Allen Shaheen sold 1,232 shares of the business’s stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $71.51, for a total transaction of $88,100.32. Following the completion of the sale, the executive vice president now owns 6,120 shares in the company, valued at $437,641.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of CTSH stock opened at $68.00 on Friday. Cognizant Technology Solutions Corp has a 12 month low of $65.14 and a 12 month high of $85.10. The company has a market cap of $40.18 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 1.50 and a beta of 0.95. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.24 and a quick ratio of 3.24.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.06. The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Cognizant Technology Solutions had a return on equity of 22.54% and a net margin of 9.07%. Cognizant Technology Solutions’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 earnings per share. Equities analysts anticipate that Cognizant Technology Solutions Corp will post 4.18 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Tuesday, November 20th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Monday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is presently 22.66%.

CTSH has been the topic of several research reports. Bank of America cut shares of Cognizant Technology Solutions from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $91.00 to $81.00 in a research report on Tuesday, September 4th. HSBC upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 18th. Nomura upgraded shares of Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and set a $79.00 price target on the stock in a research report on Wednesday, October 31st. Citigroup dropped their price target on shares of Cognizant Technology Solutions from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, October 31st. Finally, JPMorgan Chase & Co. cut shares of Cognizant Technology Solutions from an “overweight” rating to a “neutral” rating and set a $66.00 price target on the stock. in a research report on Tuesday, August 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Cognizant Technology Solutions currently has an average rating of “Buy” and a consensus target price of $82.34.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTSH. Cornerstone Wealth Management LLC bought a new stake in shares of Cognizant Technology Solutions during the second quarter valued at approximately $365,000. Raymond James Financial Services Advisors Inc. increased its position in shares of Cognizant Technology Solutions by 22.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 49,045 shares of the information technology service provider’s stock valued at $3,874,000 after purchasing an additional 8,914 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Cognizant Technology Solutions by 20.9% during the second quarter. Commonwealth Equity Services LLC now owns 60,770 shares of the information technology service provider’s stock valued at $4,800,000 after purchasing an additional 10,497 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Cognizant Technology Solutions by 288.2% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 58,525 shares of the information technology service provider’s stock valued at $4,623,000 after purchasing an additional 43,450 shares during the period. Finally, Fiera Capital Corp increased its position in shares of Cognizant Technology Solutions by 1.3% during the second quarter. Fiera Capital Corp now owns 281,010 shares of the information technology service provider’s stock valued at $22,197,000 after purchasing an additional 3,510 shares during the period. Institutional investors and hedge funds own 86.37% of the company’s stock.

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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.

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

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