Cognizant Technology Solutions Corp (NASDAQ:CTSH) General Counsel Matthew W. Friedrich sold 2,847 shares of the company’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $82.14, for a total value of $233,852.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) traded down $0.16 during midday trading on Wednesday, reaching $83.63. The company’s stock had a trading volume of 2,218,365 shares, compared to its average volume of 4,020,000. The company has a current ratio of 3.21, a quick ratio of 3.21 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions Corp has a 12 month low of $57.50 and a 12 month high of $84.99. The stock has a market cap of $49,180.00, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 1.58 and a beta of 1.02.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.15. Cognizant Technology Solutions had a return on equity of 19.94% and a net margin of 10.15%. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the business earned $0.87 EPS. Cognizant Technology Solutions’s revenue was up 10.6% on a year-over-year basis. analysts anticipate that Cognizant Technology Solutions Corp will post 4.21 EPS for the current year.
CTSH has been the topic of several recent analyst reports. BidaskClub lowered Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Zacks Investment Research lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, January 12th. Nomura upped their price target on Cognizant Technology Solutions from $71.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Citigroup upgraded Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $75.84 to $79.00 in a report on Thursday, January 18th. Finally, Morgan Stanley boosted their price objective on Cognizant Technology Solutions from $77.00 to $84.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and three have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $85.43.
A number of hedge funds and other institutional investors have recently modified their holdings of CTSH. Harding Loevner LP boosted its position in shares of Cognizant Technology Solutions by 2,085,162.4% during the 3rd quarter. Harding Loevner LP now owns 3,544,946 shares of the information technology service provider’s stock worth $142,254,000 after acquiring an additional 3,544,776 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Cognizant Technology Solutions by 296.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,422,593 shares of the information technology service provider’s stock worth $314,093,000 after acquiring an additional 3,307,799 shares in the last quarter. Winslow Capital Management LLC acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth about $217,524,000. APG Asset Management N.V. boosted its position in shares of Cognizant Technology Solutions by 241.2% during the 4th quarter. APG Asset Management N.V. now owns 3,580,820 shares of the information technology service provider’s stock worth $211,784,000 after acquiring an additional 2,531,494 shares in the last quarter. Finally, Genesis Asset Managers LLP boosted its position in shares of Cognizant Technology Solutions by 92.3% during the 4th quarter. Genesis Asset Managers LLP now owns 3,738,507 shares of the information technology service provider’s stock worth $265,509,000 after acquiring an additional 1,794,164 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.
Cognizant Technology Solutions 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.
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