Cognizant Technology Solutions Corporation (NASDAQ:CTSH) COO Srinivasan Veeraraghavachary sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $71.00, for a total transaction of $177,500.00. Following the transaction, the chief operating officer now owns 27,165 shares of the company’s stock, valued at $1,928,715. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Srinivasan Veeraraghavachary also recently made the following trade(s):

  • On Tuesday, May 16th, Srinivasan Veeraraghavachary sold 3,069 shares of Cognizant Technology Solutions Corporation stock. The shares were sold at an average price of $65.00, for a total transaction of $199,485.00.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up 0.99% during midday trading on Tuesday, reaching $70.28. 3,709,161 shares of the company’s stock traded hands. The firm has a market cap of $41.39 billion, a PE ratio of 25.57 and a beta of 1.17. Cognizant Technology Solutions Corporation has a 52-week low of $45.44 and a 52-week high of $70.75. The firm’s 50-day moving average is $67.94 and its 200 day moving average is $62.02.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.11. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.65 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 earnings per share. Equities research analysts expect that Cognizant Technology Solutions Corporation will post $3.69 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd will be issued a $0.15 dividend. The ex-dividend date is Friday, August 18th. This represents a $0.60 annualized dividend and a yield of 0.86%. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is presently 19.17%.

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Several research analysts have commented on the stock. Credit Suisse Group set a $70.00 price objective on shares of Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research report on Saturday, May 6th. Zacks Investment Research upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Tuesday. Berenberg Bank upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $85.00 in a research report on Tuesday. Cowen and Company reiterated a “buy” rating and set a $75.00 price target on shares of Cognizant Technology Solutions Corporation in a report on Friday, July 28th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Cognizant Technology Solutions Corporation in a report on Friday. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $67.90.

A number of hedge funds and other institutional investors have recently modified their holdings of CTSH. BlackRock Inc. boosted its position in shares of Cognizant Technology Solutions Corporation by 3,470.1% in the first quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock valued at $2,425,316,000 after buying an additional 39,606,526 shares during the period. Comgest Global Investors S.A.S. purchased a new position in shares of Cognizant Technology Solutions Corporation during the first quarter valued at about $224,748,000. Thrivent Financial For Lutherans boosted its position in shares of Cognizant Technology Solutions Corporation by 11,666.2% in the first quarter. Thrivent Financial For Lutherans now owns 2,468,550 shares of the information technology service provider’s stock valued at $146,928,000 after buying an additional 2,447,570 shares during the period. Alliancebernstein L.P. boosted its position in shares of Cognizant Technology Solutions Corporation by 112.5% in the first quarter. Alliancebernstein L.P. now owns 4,487,749 shares of the information technology service provider’s stock valued at $267,111,000 after buying an additional 2,375,626 shares during the period. Finally, SRS Investment Management LLC purchased a new position in shares of Cognizant Technology Solutions Corporation during the first quarter valued at about $134,797,000. 89.21% of the stock is owned by institutional investors and hedge funds.

About Cognizant Technology Solutions Corporation

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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

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