Cognizant Technology Solutions Corp (NASDAQ:CTSH) insider Malcolm Frank sold 448 shares of the stock in a transaction on Monday, September 14th. The shares were sold at an average price of $69.16, for a total value of $30,983.68. Following the sale, the insider now directly owns 37,975 shares in the company, valued at approximately $2,626,351. The sale was disclosed in a document filed with the SEC, which is available at this link.
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 shares were sold at an average price of $68.37, for a total value of $101,802.93.
CTSH stock traded up $0.59 during midday trading on Wednesday, reaching $70.72. The stock had a trading volume of 3,158,009 shares, compared to its average volume of 3,753,741. The stock has a market cap 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 quick ratio of 2.66 and a current ratio of 2.66. The firm has a fifty day simple moving average of $67.06 and a two-hundred day simple 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.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 21st were paid a dividend of $0.22 per share. 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 payout ratio is currently 22.06%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB purchased a new position in shares of Cognizant Technology Solutions during the 2nd quarter valued at about $7,000,000. Muhlenkamp & Co. Inc. purchased a new position in shares of Cognizant Technology Solutions during the 2nd quarter valued at about $340,000. RMR Wealth Builders purchased a new position in shares of Cognizant Technology Solutions during the 2nd quarter valued at about $121,000. Orion Portfolio Solutions LLC raised its stake in shares of Cognizant Technology Solutions by 188.7% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 2,275 shares of the information technology service provider’s stock valued at $129,000 after buying an additional 1,487 shares during the last quarter. Finally, tru Independence LLC grew its position in shares of Cognizant Technology Solutions by 266.7% during the 2nd quarter. tru Independence LLC now owns 825 shares of the information technology service provider’s stock valued at $47,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 89.68% of the company’s stock.
Several analysts have issued reports on the company. Needham & Company LLC raised Cognizant Technology Solutions from an “underperform” rating to a “hold” rating in a research report on Thursday, July 30th. Morgan Stanley increased their target price on Cognizant Technology Solutions from $51.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 28th. upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and set a $60.00 price objective for the company in a report on Wednesday, June 10th. BofA Securities upgraded Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and increased their price objective for the company from $67.00 to $76.00 in a report on Friday, September 11th. Finally, HSBC upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and increased their price objective for the company from $56.00 to $68.00 in a report on Monday, July 13th. Five investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $68.27.
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.
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