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.
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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