Cognizant Technology Solutions Corp (NASDAQ:CTSH) EVP James Patrick Lennox sold 842 shares of Cognizant Technology Solutions stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $75.20, for a total value of $63,318.40. Following the transaction, the executive vice president now owns 5,555 shares of the company’s stock, valued at approximately $417,736. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
James Patrick Lennox also recently made the following trade(s):
- On Tuesday, July 3rd, James Patrick Lennox sold 52 shares of Cognizant Technology Solutions stock. The shares were sold at an average price of $79.97, for a total value of $4,158.44.
- On Wednesday, June 13th, James Patrick Lennox sold 743 shares of Cognizant Technology Solutions stock. The shares were sold at an average price of $78.63, for a total value of $58,422.09.
Shares of Cognizant Technology Solutions stock traded up $0.01 on Friday, hitting $75.73. 3,104,092 shares of the company were exchanged, compared to its average volume of 2,911,785. The stock has a market cap of $43.94 billion, a P/E ratio of 21.45, a P/E/G ratio of 1.39 and a beta of 0.94. Cognizant Technology Solutions Corp has a 1-year low of $69.69 and a 1-year high of $85.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.27 and a quick ratio of 3.27.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Thursday, August 2nd. The information technology service provider reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.09. Cognizant Technology Solutions had a return on equity of 21.66% and a net margin of 9.37%. The business had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the previous year, the firm posted $0.93 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. research analysts expect that Cognizant Technology Solutions Corp will post 4.18 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Wednesday, August 22nd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Tuesday, August 21st. Cognizant Technology Solutions’s dividend payout ratio is presently 22.66%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rainier Group Investment Advisory LLC acquired a new position in Cognizant Technology Solutions in the first quarter valued at approximately $100,000. Kaizen Advisory LLC lifted its holdings in Cognizant Technology Solutions by 149.4% in the second quarter. Kaizen Advisory LLC now owns 1,429 shares of the information technology service provider’s stock valued at $113,000 after acquiring an additional 856 shares during the last quarter. Fort L.P. acquired a new position in Cognizant Technology Solutions in the second quarter valued at approximately $123,000. San Francisco Sentry Investment Group CA lifted its holdings in Cognizant Technology Solutions by 170.0% in the second quarter. San Francisco Sentry Investment Group CA now owns 1,909 shares of the information technology service provider’s stock valued at $151,000 after acquiring an additional 1,202 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Cognizant Technology Solutions by 65.5% in the second quarter. Parallel Advisors LLC now owns 2,226 shares of the information technology service provider’s stock valued at $175,000 after acquiring an additional 881 shares during the last quarter. Hedge funds and other institutional investors own 88.14% of the company’s stock.
Several brokerages recently weighed in on CTSH. Bank of America lowered Cognizant Technology Solutions from a “buy” rating to an “underperform” rating and cut their price target for the company from $91.00 to $81.00 in a research note on Tuesday. JPMorgan Chase & Co. lowered Cognizant Technology Solutions from an “overweight” rating to a “neutral” rating and set a $66.00 price target for the company. in a research note on Tuesday, August 14th. KeyCorp cut their price target on Cognizant Technology Solutions from $91.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, August 3rd. Cowen restated a “buy” rating and issued a $87.00 price target on shares of Cognizant Technology Solutions in a research note on Friday, August 3rd. Finally, BMO Capital Markets restated a “buy” rating and issued a $85.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, August 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Cognizant Technology Solutions has an average rating of “Buy” and an average price target of $85.18.
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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