Insider Selling: Cognizant Technology Solutions Co. (NASDAQ:CTSH) CAO Sells 200 Shares of Stock

Thursday, June 10, 2021 | MarketBeat

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.

See Also: What is a stock portfolio tracker?

Insider Buying and Selling by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: What is the Nikkei 225 index?    


7 Reddit Stocks That Have a Chance to Be Special

As a conservative investor, I have a grudging admiration for the small army of retail traders that are making their dreams come true. I’m talking, of course, about the group of day traders who have made a habit of finding low-priced stocks (particularly those with high short interest) and attempting to send them “to the moon.”

They are called meme stocks, casino stocks, or Reddit stocks (named for the website where some of these traders congregate). It all means the same thing. And as much as I say I admire the traders who have profited from these stocks, I do it from a safe distance.

Many of these stocks were penny stocks. And they were penny stocks for a reason. No amount of speculative rocket fuel is going to change that. But if you look at some of these stocks as objectively as possible, there may be hope.

And in this special presentation, we’re going to look at seven Reddit stocks that might just have a chance to have a life beyond this current mania phase.

View the "7 Reddit Stocks That Have a Chance to Be Special".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.