Cognizant Technology Solutions Co. (NASDAQ:CTSH) CAO Robert Telesmanic sold 200 shares of the firm’s stock in a transaction on Tuesday, June 8th. The shares were sold at an average price of $71.51, for a total value of $14,302.00. Following the completion of the sale, the chief accounting officer now directly owns 11,570 shares of the company’s stock, valued at approximately $827,370.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
CTSH traded down $0.08 during midday trading on Thursday, hitting $71.17. The company’s stock had a trading volume of 3,182,613 shares, compared to its average volume of 3,475,058. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $37.54 billion, a price-to-earnings ratio of 25.00, a P/E/G ratio of 1.63 and a beta of 1.15. The firm has a 50-day simple moving average of $75.85. Cognizant Technology Solutions Co. has a 52-week low of $52.50 and a 52-week high of $82.73.
Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Tuesday, May 4th. The information technology service provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 9.09%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 EPS. On average, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 3.98 earnings per share for the current fiscal year.
A number of research analysts have recently weighed in on the company. Morgan Stanley dropped their price target on Cognizant Technology Solutions from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Thursday, May 6th. Susquehanna Bancshares raised their price target on Cognizant Technology Solutions from $89.00 to $99.00 and gave the company a “positive” rating in a research report on Thursday, May 6th. Susquehanna raised their price target on Cognizant Technology Solutions from $89.00 to $99.00 and gave the company a “positive” rating in a research report on Thursday, May 6th. Finally, Zacks Investment Research upgraded Cognizant Technology Solutions from a “sell” rating to a “hold” rating and set a $79.00 price target for the company in a research report on Monday, May 10th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $79.82.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KB Financial Partners LLC acquired a new position in shares of Cognizant Technology Solutions in the 1st quarter valued at about $199,000. Advisory Services Network LLC lifted its stake in shares of Cognizant Technology Solutions by 22.6% in the 1st quarter. Advisory Services Network LLC now owns 5,950 shares of the information technology service provider’s stock valued at $465,000 after purchasing an additional 1,098 shares in the last quarter. Sunbelt Securities Inc. lifted its stake in shares of Cognizant Technology Solutions by 11.6% in the 1st quarter. Sunbelt Securities Inc. now owns 7,943 shares of the information technology service provider’s stock valued at $620,000 after purchasing an additional 824 shares in the last quarter. Optiver Holding B.V. acquired a new position in shares of Cognizant Technology Solutions in the 1st quarter valued at about $1,274,000. Finally, B. Metzler seel. Sohn & Co. Holding AG lifted its stake in shares of Cognizant Technology Solutions by 43.7% in the 1st quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 52,527 shares of the information technology service provider’s stock valued at $4,103,000 after purchasing an additional 15,979 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.
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