Cognizant Technology Solutions Corporation (CTSH) COO Sells $182,500.00 in Stock

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) COO Srinivasan Veeraraghavachary sold 2,500 shares of Cognizant Technology Solutions Corporation stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $73.00, for a total transaction of $182,500.00. Following the completion of the transaction, the chief operating officer now owns 24,459 shares in the company, valued at approximately $1,785,507. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Srinivasan Veeraraghavachary also recently made the following trade(s):

  • On Wednesday, August 16th, Srinivasan Veeraraghavachary sold 2,500 shares of Cognizant Technology Solutions Corporation stock. The stock was sold at an average price of $72.00, for a total transaction of $180,000.00.
  • On Friday, August 4th, Srinivasan Veeraraghavachary sold 2,500 shares of Cognizant Technology Solutions Corporation stock. The stock was sold at an average price of $71.00, for a total transaction of $177,500.00.

Shares of Cognizant Technology Solutions Corporation (CTSH) opened at 71.82 on Friday. The company has a market cap of $42.42 billion, a price-to-earnings ratio of 23.04 and a beta of 1.14. The stock’s 50 day moving average is $70.58 and its 200-day moving average is $65.16. Cognizant Technology Solutions Corporation has a 52 week low of $45.44 and a 52 week high of $73.00.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.11. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.65 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 EPS. On average, equities analysts anticipate that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Friday, August 18th. Cognizant Technology Solutions Corporation’s dividend payout ratio is presently 19.17%.

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A number of research firms have issued reports on CTSH. BMO Capital Markets restated a “buy” rating and issued a $76.00 price objective (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a research report on Friday, August 4th. Needham & Company LLC restated a “buy” rating and issued a $78.00 price objective (up previously from $72.00) on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, August 9th. Zacks Investment Research cut shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Berenberg Bank upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $85.00 in a research report on Tuesday, August 8th. Finally, Loop Capital upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and boosted their price objective for the company from $63.00 to $83.00 in a research report on Friday, August 4th. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $72.30.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Cognizant Technology Solutions Corporation by 3,470.1% in the 1st quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock worth $2,425,316,000 after buying an additional 39,606,526 shares during the period. Vanguard Group Inc. increased its stake in Cognizant Technology Solutions Corporation by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 40,545,109 shares of the information technology service provider’s stock worth $2,413,246,000 after buying an additional 1,379,271 shares during the period. FMR LLC increased its stake in Cognizant Technology Solutions Corporation by 81.6% in the 2nd quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock worth $1,664,366,000 after buying an additional 11,262,360 shares during the period. State Street Corp increased its stake in Cognizant Technology Solutions Corporation by 1.8% in the 1st quarter. State Street Corp now owns 24,267,262 shares of the information technology service provider’s stock worth $1,444,391,000 after buying an additional 435,142 shares during the period. Finally, Edgewood Management LLC increased its stake in Cognizant Technology Solutions Corporation by 3.9% in the 1st quarter. Edgewood Management LLC now owns 14,706,635 shares of the information technology service provider’s stock worth $875,339,000 after buying an additional 557,035 shares during the period. 87.64% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Corporation Company Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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

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