Cognizant Technology Solutions Corp (NASDAQ:CTSH) Director Leo S. Jr. Mackay sold 1,600 shares of the stock in a transaction on Friday, June 15th. The stock was sold at an average price of $78.98, for a total transaction of $126,368.00. Following the completion of the sale, the director now directly owns 11,054 shares of the company’s stock, valued at approximately $873,044.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
NASDAQ CTSH opened at $79.20 on Wednesday. Cognizant Technology Solutions Corp has a 12 month low of $65.60 and a 12 month high of $85.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.64 and a current ratio of 3.64. The firm has a market cap of $46.88 billion, a price-to-earnings ratio of 22.44, a P/E/G ratio of 1.53 and a beta of 1.05.
Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Monday, May 7th. The information technology service provider reported $1.06 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.06. Cognizant Technology Solutions had a net margin of 9.67% and a return on equity of 20.48%. The firm had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same period in the prior year, the firm posted $0.84 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. research analysts expect that Cognizant Technology Solutions Corp will post 4.16 EPS for the current fiscal year.
Several equities research analysts have recently issued reports on CTSH shares. BidaskClub lowered shares of Cognizant Technology Solutions from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 9th. ValuEngine raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research report on Tuesday, May 1st. Credit Suisse Group set a $95.00 price objective on shares of Cognizant Technology Solutions and gave the stock a “buy” rating in a research report on Tuesday, May 8th. Finally, Pivotal Research restated a “buy” rating and issued a $91.00 target price on shares of Cognizant Technology Solutions in a research note on Monday, May 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $86.09.
Hedge funds and other institutional investors have recently bought and sold shares of the business. OMERS ADMINISTRATION Corp bought a new position in Cognizant Technology Solutions during the 1st quarter valued at $6,665,000. MetLife Investment Advisors LLC bought a new position in Cognizant Technology Solutions during the 4th quarter valued at $12,957,000. Millennium Management LLC boosted its stake in Cognizant Technology Solutions by 8.3% during the 1st quarter. Millennium Management LLC now owns 1,638,312 shares of the information technology service provider’s stock valued at $131,884,000 after acquiring an additional 126,235 shares during the last quarter. USA Financial Portformulas Corp raised its holdings in shares of Cognizant Technology Solutions by 26.6% during the fourth quarter. USA Financial Portformulas Corp now owns 56,615 shares of the information technology service provider’s stock worth $4,021,000 after purchasing an additional 11,898 shares during the period. Finally, Brandywine Global Investment Management LLC acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $5,082,000. Hedge funds and other institutional investors own 87.94% of the company’s stock.
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 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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