Cognizant Technology Solutions Corp (NASDAQ:CTSH) EVP Allen Shaheen sold 1,232 shares of the stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $71.51, for a total value of $88,100.32. Following the sale, the executive vice president now owns 6,120 shares in the company, valued at approximately $437,641.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of CTSH opened at $68.00 on Friday. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions Corp has a 12-month low of $65.14 and a 12-month high of $85.10. The firm has a market cap of $40.18 billion, a PE ratio of 19.26, a PEG ratio of 1.50 and a beta of 0.95.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.06. Cognizant Technology Solutions had a return on equity of 22.54% and a net margin of 9.07%. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. Research analysts anticipate that Cognizant Technology Solutions Corp will post 4.18 EPS for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the company. Willingdon Wealth Management acquired a new position in Cognizant Technology Solutions in the third quarter valued at about $120,000. Fort L.P. acquired a new position in Cognizant Technology Solutions in the second quarter valued at about $123,000. Johnson Financial Group Inc. lifted its stake in Cognizant Technology Solutions by 2,434.4% in the third quarter. Johnson Financial Group Inc. now owns 1,622 shares of the information technology service provider’s stock valued at $125,000 after buying an additional 1,558 shares during the period. Honkamp Krueger Financial Services Inc. acquired a new position in Cognizant Technology Solutions in the third quarter valued at about $134,000. Finally, Stratos Wealth Partners LTD. acquired a new position in Cognizant Technology Solutions in the third quarter valued at about $146,000. 86.37% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently commented on the company. Cowen cut Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and set a $67.98 target price on the stock. in a report on Sunday, December 2nd. Goldman Sachs Group upgraded Cognizant Technology Solutions from a “neutral” rating to a “buy” rating in a report on Monday, November 26th. BidaskClub upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Wednesday, November 21st. BMO Capital Markets restated a “hold” rating and set a $75.00 target price on shares of Cognizant Technology Solutions in a report on Tuesday, November 20th. Finally, Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a report on Tuesday, November 20th. They set a “hold” rating and a $70.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $82.34.
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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 business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.
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