Cognizant Technology Solutions Corp (NASDAQ:CTSH) insider Gajakarnan Vibushanan Kandiah sold 1,200 shares of the business’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $76.87, for a total transaction of $92,244.00. Following the sale, the insider now directly owns 12,861 shares in the company, valued at approximately $988,625.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of CTSH stock opened at $78.99 on Friday. Cognizant Technology Solutions Corp has a 52 week low of $66.05 and a 52 week high of $85.10. The company has a market capitalization of $46.30 billion, a PE ratio of 22.38, a P/E/G ratio of 1.51 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.64 and a quick ratio of 3.64.
Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Monday, May 7th. The information technology service provider reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. The firm had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.90 billion. Cognizant Technology Solutions had a net margin of 9.67% and a return on equity of 20.48%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. equities research analysts anticipate that Cognizant Technology Solutions Corp will post 4.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 31st. Investors of record on Tuesday, May 22nd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, May 21st. This represents a $0.80 annualized dividend and a yield of 1.01%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 22.66%.
Several brokerages have recently weighed in on CTSH. BidaskClub upgraded shares of Cognizant Technology Solutions from a “buy” rating to a “strong-buy” rating in a report on Friday, March 9th. 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. Sanford C. Bernstein started coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, March 28th. They set a “market perform” rating and a $57.50 price target on the stock. Morgan Stanley lowered their target price on shares of Cognizant Technology Solutions to $88.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 8th. Finally, Credit Suisse Group set a $95.00 price objective on shares of Cognizant Technology Solutions and gave the company a “buy” rating in a research report on Tuesday, May 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $86.09.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Brown Advisory Inc. grew its position in Cognizant Technology Solutions by 4.1% during the first quarter. Brown Advisory Inc. now owns 407,554 shares of the information technology service provider’s stock valued at $32,807,000 after buying an additional 15,927 shares during the period. Mount Yale Investment Advisors LLC bought a new stake in Cognizant Technology Solutions during the first quarter valued at approximately $3,053,000. HighPoint Advisor Group LLC bought a new stake in Cognizant Technology Solutions during the first quarter valued at approximately $299,000. Rikoon Group LLC grew its position in Cognizant Technology Solutions by 9.3% during the first quarter. Rikoon Group LLC now owns 12,406 shares of the information technology service provider’s stock valued at $982,000 after buying an additional 1,056 shares during the period. Finally, Wealth Alliance Advisory Group LLC bought a new stake in Cognizant Technology Solutions during the first quarter valued at approximately $343,000. Institutional investors own 88.05% of the company’s stock.
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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