Cognizant Technology Solutions Corporation (NASDAQ:CTSH) COO Srinivasan Veeraraghavachary sold 2,500 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $72.00, for a total transaction of $180,000.00. Following the transaction, the chief operating officer now directly owns 24,665 shares of the company’s stock, valued at $1,775,880. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Friday, August 4th, Srinivasan Veeraraghavachary sold 2,500 shares of Cognizant Technology Solutions Corporation stock. The shares were sold at an average price of $71.00, for a total transaction of $177,500.00.

Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 70.02 on Thursday. Cognizant Technology Solutions Corporation has a 12-month low of $45.44 and a 12-month high of $72.07. The stock has a market cap of $41.36 billion, a price-to-earnings ratio of 22.46 and a beta of 1.17. The stock’s 50 day moving average is $69.49 and its 200-day moving average is $63.67.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings data 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 firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.87 EPS. Equities analysts anticipate that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current fiscal year.

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

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Large investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake 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 in the last quarter. Vanguard Group Inc. raised its position in shares of Cognizant Technology Solutions Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 40,545,109 shares of the information technology service provider’s stock valued at $2,413,246,000 after buying an additional 1,379,271 shares during the last quarter. FMR LLC raised its position in shares of Cognizant Technology Solutions Corporation by 81.6% in the second quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock valued at $1,664,366,000 after buying an additional 11,262,360 shares during the last quarter. State Street Corp raised its position in shares of Cognizant Technology Solutions Corporation by 1.8% in the first quarter. State Street Corp now owns 24,267,262 shares of the information technology service provider’s stock valued at $1,444,391,000 after buying an additional 435,142 shares during the last quarter. Finally, Edgewood Management LLC raised its position in shares of Cognizant Technology Solutions Corporation by 3.9% in the first quarter. Edgewood Management LLC now owns 14,706,635 shares of the information technology service provider’s stock valued at $875,339,000 after buying an additional 557,035 shares during the last quarter. 88.68% of the stock is owned by hedge funds and other institutional investors.

CTSH has been the subject of several analyst reports. Credit Suisse Group set a $70.00 target price on shares of Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a report on Saturday, May 6th. Needham & Company LLC reiterated a “buy” rating and set a $78.00 price objective (up previously from $72.00) on shares of Cognizant Technology Solutions Corporation in a report on Wednesday, August 9th. Berenberg Bank upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the company from $65.00 to $85.00 in a report on Tuesday, August 8th. Zacks Investment Research raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Tuesday, August 8th. Finally, BMO Capital Markets reissued a “buy” rating and set a $76.00 target price (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Cognizant Technology Solutions Corporation presently has a consensus rating of “Buy” and a consensus target price of $70.02.

Cognizant Technology Solutions Corporation Company Profile

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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