Insider Selling: Cognizant Technology Solutions Corp. (CTSH) CEO Sells 100,000 Shares of Stock

Posted by on Jul 31st, 2016

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) CEO Francisco Dsouza sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $58.57, for a total transaction of $5,857,000.00. Following the completion of the transaction, the chief executive officer now directly owns 422,602 shares in the company, valued at approximately $24,751,799.14. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Francisco Dsouza also recently made the following trade(s):

  • On Monday, July 25th, Francisco Dsouza sold 100,000 shares of Cognizant Technology Solutions Corp. stock. The shares were sold at an average price of $58.14, for a total transaction of $5,814,000.00.
  • On Wednesday, July 27th, Francisco Dsouza sold 300,000 shares of Cognizant Technology Solutions Corp. stock. The shares were sold at an average price of $58.32, for a total transaction of $17,496,000.00.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded down 0.63% during mid-day trading on Wednesday, hitting $58.25. 2,684,976 shares of the stock were exchanged. The stock has a market capitalization of $35.29 billion and a PE ratio of 21.18. Cognizant Technology Solutions Corp. has a 52 week low of $51.22 and a 52 week high of $69.80. The company has a 50-day moving average of $58.77 and a 200-day moving average of $59.21.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last announced its earnings results on Friday, May 6th. The information technology service provider reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.01. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.22 billion. During the same period in the prior year, the company posted $0.71 earnings per share. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts predict that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current fiscal year.

CTSH has been the subject of several analyst reports. Zacks Investment Research lowered shares of Cognizant Technology Solutions Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, April 6th. Jefferies Group reiterated a “buy” rating and issued a $70.00 price objective on shares of Cognizant Technology Solutions Corp. in a research note on Monday, June 20th. SunTrust Banks Inc. lowered shares of Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $70.00 to $65.00 in a research note on Tuesday, July 12th. Cantor Fitzgerald reiterated a “buy” rating and issued a $68.00 price objective on shares of Cognizant Technology Solutions Corp. in a research note on Wednesday, June 29th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $70.00 price objective on shares of Cognizant Technology Solutions Corp. in a research note on Wednesday, June 8th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $69.22.

Cognizant Technology Solutions Corporation is a provider of information technology (IT), consulting and business process services. The Company operates in four segments: Financial Services segment, which include banking and insurance; Healthcare segment, which includes healthcare and life sciences, and Manufacturing/Retail/Logistics segment, which includes manufacturing and logistics; retail, travel and hospitality, and consumer goods and Other segment, which includes Communications, Manufacturing/Retail/Logistics, and High Technology.