Cognizant Technology Solutions Corp (NASDAQ:CTSH) Insider Dharmendra Kumar Sinha Sells 15,000 Shares

Cognizant Technology Solutions Corp (NASDAQ:CTSH) insider Dharmendra Kumar Sinha sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $70.00, for a total value of $1,050,000.00. Following the sale, the insider now owns 26,893 shares of the company’s stock, valued at approximately $1,882,510. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Dharmendra Kumar Sinha also recently made the following trade(s):

  • On Wednesday, September 23rd, Dharmendra Kumar Sinha sold 25,000 shares of Cognizant Technology Solutions stock. The stock was sold at an average price of $68.33, for a total value of $1,708,250.00.

Shares of CTSH stock traded down $0.09 during midday trading on Thursday, reaching $69.33. 3,426,441 shares of the company were exchanged, compared to its average volume of 3,736,258. Cognizant Technology Solutions Corp has a 12 month low of $40.01 and a 12 month high of $71.81. The company has a market cap of $37.59 billion, a P/E ratio of 23.42, a PEG ratio of 1.74 and a beta of 1.20. The company’s 50 day moving average price is $67.54 and its two-hundred day moving average price is $58.12. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.66 and a current ratio of 2.66.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly 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. Cognizant Technology Solutions had a net margin of 9.67% and a return on equity of 19.87%. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the previous year, the firm earned $0.94 EPS. Cognizant Technology Solutions’s revenue was down 3.4% on a year-over-year basis. As a group, sell-side analysts predict that Cognizant Technology Solutions Corp will post 3.55 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ancora Advisors LLC raised its holdings in shares of Cognizant Technology Solutions by 0.5% in the 2nd quarter. Ancora Advisors LLC now owns 34,738 shares of the information technology service provider’s stock worth $1,974,000 after purchasing an additional 169 shares in the last quarter. West Bancorporation Inc. raised its holdings in shares of Cognizant Technology Solutions by 12.3% in the 2nd quarter. West Bancorporation Inc. now owns 1,809 shares of the information technology service provider’s stock worth $103,000 after purchasing an additional 198 shares in the last quarter. Level Four Advisory Services LLC raised its holdings in shares of Cognizant Technology Solutions by 1.7% in the 2nd quarter. Level Four Advisory Services LLC now owns 13,539 shares of the information technology service provider’s stock worth $774,000 after purchasing an additional 232 shares in the last quarter. Altfest L J & Co. Inc. raised its holdings in shares of Cognizant Technology Solutions by 5.3% in the 2nd quarter. Altfest L J & Co. Inc. now owns 5,070 shares of the information technology service provider’s stock worth $288,000 after purchasing an additional 254 shares in the last quarter. Finally, Cim Investment Mangement Inc. raised its holdings in shares of Cognizant Technology Solutions by 3.4% in the 1st quarter. Cim Investment Mangement Inc. now owns 8,007 shares of the information technology service provider’s stock worth $372,000 after purchasing an additional 261 shares in the last quarter. Institutional investors and hedge funds own 89.68% of the company’s stock.

A number of analysts have recently issued reports on the company. Robert W. Baird boosted their target price on Cognizant Technology Solutions from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. Bank of America raised Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $67.00 to $76.00 in a research report on Friday, September 11th. Royal Bank of Canada upped their target price on Cognizant Technology Solutions from $68.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. upped their target price on Cognizant Technology Solutions from $69.00 to $79.00 and gave the company a “neutral” rating in a research report on Monday, August 17th. Finally, HSBC raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and upped their target price for the company from $56.00 to $68.00 in a research report on Monday, July 13th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus target price of $67.85.

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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