Cognizant Technology Solutions Co. (NASDAQ:CTSH) CAO Robert Telesmanic sold 200 shares of the business's stock in a transaction dated Tuesday, June 8th. The shares were sold at an average price of $71.51, for a total transaction of $14,302.00. Following the transaction, the chief accounting officer now directly owns 11,570 shares in the company, valued at approximately $827,370.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of CTSH traded down $0.08 during mid-day trading on Thursday, hitting $71.17. 3,182,613 shares of the company's stock were exchanged, compared to its average volume of 3,475,058. The company has a market capitalization of $37.54 billion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15. Cognizant Technology Solutions Co. has a fifty-two week low of $52.50 and a fifty-two week high of $82.73. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. The company has a 50-day moving average of $75.85.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Tuesday, May 4th. The information technology service provider reported $0.97 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.94 by $0.03. Cognizant Technology Solutions had a net margin of 9.09% and a return on equity of 16.77%. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same period in the prior year, the firm earned $0.96 earnings per share. The business's quarterly revenue was up 4.1% compared to the same quarter last year. As a group, research analysts predict that Cognizant Technology Solutions Co. will post 3.98 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 28th. Investors of record on Thursday, May 20th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, May 19th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.35%. Cognizant Technology Solutions's payout ratio is 28.07%.
Several research analysts have recently weighed in on CTSH shares. Susquehanna boosted their price target on shares of 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 Bancshares boosted their price target on shares of Cognizant Technology Solutions from $89.00 to $99.00 and gave the company a "positive" rating in a research report on Thursday, May 6th. Zacks Investment Research raised shares of Cognizant Technology Solutions from a "sell" rating to a "hold" rating and set a $79.00 target price on the stock in a research report on Monday, May 10th. Finally, Morgan Stanley decreased their target price on shares of Cognizant Technology Solutions from $95.00 to $93.00 and set an "overweight" rating on the stock in a research report on Thursday, May 6th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of "Hold" and an average target price of $79.82.
Several hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in shares of Cognizant Technology Solutions by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 22,771,997 shares of the information technology service provider's stock worth $1,866,164,000 after buying an additional 295,370 shares during the period. Artisan Partners Limited Partnership increased its stake in shares of Cognizant Technology Solutions by 3.8% during the first quarter. Artisan Partners Limited Partnership now owns 11,808,879 shares of the information technology service provider's stock worth $922,510,000 after buying an additional 432,664 shares during the period. Pzena Investment Management LLC increased its stake in Cognizant Technology Solutions by 18.7% in the first quarter. Pzena Investment Management LLC now owns 10,193,327 shares of the information technology service provider's stock valued at $796,303,000 after purchasing an additional 1,605,316 shares during the last quarter. Geode Capital Management LLC increased its stake in Cognizant Technology Solutions by 1.8% in the first quarter. Geode Capital Management LLC now owns 8,216,795 shares of the information technology service provider's stock valued at $640,003,000 after purchasing an additional 142,082 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in Cognizant Technology Solutions by 1.9% in the first quarter. Alliancebernstein L.P. now owns 7,301,520 shares of the information technology service provider's stock valued at $570,395,000 after purchasing an additional 138,528 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company's stock.
About Cognizant Technology Solutions
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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