Matthew W. Friedrich Sells 3,092 Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) Stock

Cognizant Technology Solutions Corp (NASDAQ:CTSH) General Counsel Matthew W. Friedrich sold 3,092 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $60.61, for a total value of $187,406.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Matthew W. Friedrich also recently made the following trade(s):

  • On Friday, June 14th, Matthew W. Friedrich sold 452 shares of Cognizant Technology Solutions stock. The shares were sold at an average price of $61.55, for a total value of $27,820.60.
  • On Wednesday, March 13th, Matthew W. Friedrich sold 450 shares of Cognizant Technology Solutions stock. The stock was sold at an average price of $71.64, for a total value of $32,238.00.

Shares of CTSH traded up $0.89 during trading hours on Monday, hitting $64.28. 2,549,121 shares of the company were exchanged, compared to its average volume of 4,875,426. The company has a market capitalization of $36.59 billion, a P/E ratio of 15.99, a PEG ratio of 1.61 and a beta of 1.01. 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 business’s fifty day moving average is $61.99. Cognizant Technology Solutions Corp has a one year low of $56.73 and a one year high of $83.35.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Thursday, May 2nd. The information technology service provider reported $0.91 earnings per share for the quarter, missing the 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 company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the prior year, the business earned $0.94 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. Equities analysts anticipate that Cognizant Technology Solutions Corp will post 3.91 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Acima Private Wealth LLC acquired a new stake in Cognizant Technology Solutions during the fourth quarter worth about $29,000. Sontag Advisory LLC bought a new position in Cognizant Technology Solutions in the 4th quarter worth approximately $30,000. Somerset Trust Co raised its position in Cognizant Technology Solutions by 152.0% in the 1st quarter. Somerset Trust Co now owns 494 shares of the information technology service provider’s stock worth $36,000 after purchasing an additional 298 shares during the last quarter. Resources Investment Advisors Inc. raised its position in shares of Cognizant Technology Solutions by 125.6% during the 1st 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 bought a new stake in shares of Cognizant Technology Solutions during the 1st quarter valued at $37,000. Institutional investors own 89.05% of the company’s stock.

A number of research analysts have commented on CTSH shares. 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 report on Tuesday, May 7th. BMO Capital Markets reduced their target price on Cognizant Technology Solutions from $88.00 to $86.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Needham & Company LLC downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Zacks Investment Research downgraded Cognizant Technology Solutions from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 7th. Finally, Oppenheimer downgraded Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating in a report on Friday, May 3rd. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the stock. Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus target price of $75.55.

Cognizant Technology Solutions Company Profile

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.

Further Reading: Short Selling Stocks, A Beginner’s Guide

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

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