Insider Selling: Cognizant Technology Solutions Corp (NASDAQ:CTSH) Director Sells 10,000 Shares of Stock

Cognizant Technology Solutions Corp (NASDAQ:CTSH) Director John E. Klein sold 10,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $61.77, for a total value of $617,700.00. Following the completion of the transaction, the director now directly owns 459,987 shares of the company’s stock, valued at $28,413,396.99. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shares of CTSH traded up $0.33 during mid-day trading on Friday, reaching $63.39. The company had a trading volume of 10,908,063 shares, compared to its average volume of 5,245,633. Cognizant Technology Solutions Corp has a 52-week low of $56.73 and a 52-week high of $83.35. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $36.09 billion, a PE ratio of 15.77, a P/E/G ratio of 1.61 and a beta of 1.05. The company has a 50 day moving average price of $61.72.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Thursday, May 2nd. The information technology service provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.16 billion. During the same quarter in the previous year, the company earned $0.94 EPS. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. Analysts anticipate that Cognizant Technology Solutions Corp will post 3.91 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 22nd were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.26%. Cognizant Technology Solutions’s payout ratio is 19.90%.

Several institutional investors and hedge funds have recently modified their holdings of CTSH. Acima Private Wealth LLC acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $29,000. Sontag Advisory LLC acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $30,000. Somerset Trust Co raised its holdings in shares of Cognizant Technology Solutions by 152.0% during the first quarter. Somerset Trust Co now owns 494 shares of the information technology service provider’s stock valued at $36,000 after acquiring an additional 298 shares during the last quarter. Resources Investment Advisors Inc. raised its holdings in shares of Cognizant Technology Solutions by 125.6% during the first quarter. Resources Investment Advisors Inc. now owns 503 shares of the information technology service provider’s stock valued at $36,000 after acquiring an additional 280 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new position in shares of Cognizant Technology Solutions during the first quarter worth $37,000. Hedge funds and other institutional investors own 89.09% of the company’s stock.

CTSH has been the subject of several recent research reports. Goldman Sachs Group lowered Cognizant Technology Solutions from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $84.00 to $64.00 in a research report on Friday, May 3rd. Oppenheimer lowered Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating in a research report on Friday, May 3rd. TheStreet lowered Cognizant Technology Solutions from a “b-” rating to a “c+” rating in a research report on Monday, June 3rd. Argus lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, UBS Group reduced their target price on Cognizant Technology Solutions from $76.00 to $62.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $75.55.

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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