Insider Selling: Cognizant Technology Solutions Corp (CTSH) SVP Sells 3,343 Shares of Stock

Cognizant Technology Solutions Corp (NASDAQ:CTSH) SVP Robert Telesmanic sold 3,343 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $60.00, for a total value of $200,580.00. Following the transaction, the senior vice president now owns 7,337 shares of the company’s stock, valued at $440,220. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Robert Telesmanic also recently made the following trade(s):

  • On Monday, April 1st, Robert Telesmanic sold 868 shares of Cognizant Technology Solutions stock. The stock was sold at an average price of $73.73, for a total value of $63,997.64.

CTSH stock traded down $0.50 during mid-day trading on Thursday, hitting $61.00. 574,144 shares of the stock were exchanged, compared to its average volume of 9,232,985. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 0.12. Cognizant Technology Solutions Corp has a 12 month low of $56.73 and a 12 month high of $83.35. The firm has a market cap of $34.73 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 1.54 and a beta of 0.95.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Thursday, May 2nd. The information technology service provider reported $0.91 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.12). Cognizant Technology Solutions had a return on equity of 21.50% and a net margin of 12.39%. The firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same period last year, the firm earned $0.94 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts expect that Cognizant Technology Solutions Corp will post 3.91 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Tuesday, May 21st. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 19.90%.

Several equities analysts recently commented on CTSH shares. Zacks Investment Research cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. Bank of America restated an “underperform” rating and set a $57.00 target price (down from $71.00) on shares of Cognizant Technology Solutions in a research report on Monday, May 6th. Wells Fargo & Co cut Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $82.00 to $75.00 in a research report on Tuesday, April 16th. KeyCorp boosted their target price on Cognizant Technology Solutions from $79.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, February 7th. Finally, Needham & Company LLC cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the stock. Cognizant Technology Solutions has an average rating of “Hold” and an average price target of $75.55.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Cognizant Technology Solutions by 4.7% in the 1st quarter. BlackRock Inc. now owns 47,153,467 shares of the information technology service provider’s stock valued at $3,416,269,000 after acquiring an additional 2,129,464 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Cognizant Technology Solutions by 0.6% in the 3rd quarter. Vanguard Group Inc now owns 43,571,388 shares of the information technology service provider’s stock worth $3,361,533,000 after buying an additional 241,595 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Cognizant Technology Solutions by 4.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 25,183,792 shares of the information technology service provider’s stock worth $1,598,668,000 after buying an additional 1,106,129 shares during the last quarter. FMR LLC grew its stake in shares of Cognizant Technology Solutions by 21.9% in the 1st quarter. FMR LLC now owns 15,767,608 shares of the information technology service provider’s stock worth $1,142,362,000 after buying an additional 2,827,833 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Cognizant Technology Solutions by 14.9% in the 4th quarter. Nordea Investment Management AB now owns 10,187,078 shares of the information technology service provider’s stock worth $646,676,000 after buying an additional 1,324,213 shares during the last quarter. 88.24% of the stock is owned by institutional investors.

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

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