Malcolm Frank Sells 448 Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) Stock

Cognizant Technology Solutions Corp (NASDAQ:CTSH) insider Malcolm Frank sold 448 shares of the business’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $69.16, for a total value of $30,983.68. Following the completion of the transaction, the insider now owns 37,975 shares of the company’s stock, valued at approximately $2,626,351. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Malcolm Frank also recently made the following trade(s):

  • On Wednesday, September 2nd, Malcolm Frank sold 1,489 shares of Cognizant Technology Solutions stock. The stock was sold at an average price of $68.37, for a total value of $101,802.93.

Shares of NASDAQ CTSH traded up $0.59 during mid-day trading on Wednesday, reaching $70.72. The company’s stock had a trading volume of 3,158,009 shares, compared to its average volume of 3,753,741. The firm has a market capitalization of $38.35 billion, a PE ratio of 24.18, a P/E/G ratio of 1.77 and a beta of 1.20. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.66 and a quick ratio of 2.66. The stock has a fifty day moving average of $67.06 and a two-hundred day moving average of $57.42. Cognizant Technology Solutions Corp has a 52 week low of $40.01 and a 52 week high of $71.81.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, July 29th. The information technology service provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.14. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.84 billion. Cognizant Technology Solutions had a return on equity of 19.87% and a net margin of 9.67%. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.94 earnings per share. Analysts anticipate that Cognizant Technology Solutions Corp will post 3.55 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were given a $0.22 dividend. The ex-dividend date was Thursday, August 20th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.24%. Cognizant Technology Solutions’s dividend payout ratio is currently 22.06%.

Several analysts recently commented on CTSH shares. Robert W. Baird lifted their price objective on Cognizant Technology Solutions from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. JPMorgan Chase & Co. lifted their price objective on Cognizant Technology Solutions from $69.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, August 17th. TheStreet raised Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a report on Thursday, August 13th. Wedbush raised Cognizant Technology Solutions from an “underweight” rating to an “underperform” rating and set a $68.00 price target for the company in a report on Thursday, July 30th. Finally, Needham & Company LLC raised Cognizant Technology Solutions from an “underperform” rating to a “hold” rating in a report on Thursday, July 30th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $68.27.

Several large investors have recently bought and sold shares of CTSH. Kore Private Wealth LLC lifted its position in shares of Cognizant Technology Solutions by 144.8% in the second quarter. Kore Private Wealth LLC now owns 475 shares of the information technology service provider’s stock worth $26,000 after buying an additional 281 shares in the last quarter. Ovata Capital Management Ltd purchased a new stake in shares of Cognizant Technology Solutions in the second quarter worth about $36,000. tru Independence LLC lifted its position in shares of Cognizant Technology Solutions by 266.7% in the second quarter. tru Independence LLC now owns 825 shares of the information technology service provider’s stock worth $47,000 after buying an additional 600 shares in the last quarter. Smithfield Trust Co. lifted its position in shares of Cognizant Technology Solutions by 96.3% in the second quarter. Smithfield Trust Co. now owns 1,162 shares of the information technology service provider’s stock worth $66,000 after buying an additional 570 shares in the last quarter. Finally, Pathstone Family Office LLC lifted its position in shares of Cognizant Technology Solutions by 246.9% in the first quarter. Pathstone Family Office LLC now owns 1,561 shares of the information technology service provider’s stock worth $73,000 after buying an additional 1,111 shares in the last quarter. Institutional investors own 89.68% of the company’s stock.

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.

Featured Article: Relative Strength Index

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

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit