Insider Selling: Cognizant Technology Solutions Corporation (CTSH) Insider Sells $1,825,000.00 in Stock

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) insider Chandrasekaran Ramakrishnan sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $73.00, for a total transaction of $1,825,000.00. Following the transaction, the insider now owns 286,923 shares of the company’s stock, valued at approximately $20,945,379. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Chandrasekaran Ramakrishnan also recently made the following trade(s):

  • On Monday, September 11th, Chandrasekaran Ramakrishnan sold 25,000 shares of Cognizant Technology Solutions Corporation stock. The stock was sold at an average price of $72.00, for a total transaction of $1,800,000.00.
  • On Friday, September 1st, Chandrasekaran Ramakrishnan sold 25,000 shares of Cognizant Technology Solutions Corporation stock. The shares were sold at an average price of $71.00, for a total transaction of $1,775,000.00.
  • On Monday, August 28th, Chandrasekaran Ramakrishnan sold 25,000 shares of Cognizant Technology Solutions Corporation stock. The shares were sold at an average price of $70.00, for a total transaction of $1,750,000.00.

Shares of Cognizant Technology Solutions Corporation (CTSH) opened at 71.82 on Friday. The firm has a market capitalization of $42.42 billion, a PE ratio of 23.04 and a beta of 1.14. The stock has a 50 day moving average of $70.58 and a 200-day moving average of $65.16. Cognizant Technology Solutions Corporation has a 12 month low of $45.44 and a 12 month high of $73.00.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period in the previous year, the firm earned $0.87 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities research 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 was paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.60 annualized dividend and a dividend yield of 0.84%. Cognizant Technology Solutions Corporation’s dividend payout ratio is presently 19.17%.

TRADEMARK VIOLATION WARNING: “Insider Selling: Cognizant Technology Solutions Corporation (CTSH) Insider Sells $1,825,000.00 in Stock” was first reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this report on another website, it was copied illegally and republished in violation of United States and international copyright law. The correct version of this report can be viewed at https://www.chaffeybreeze.com/2017/09/17/insider-selling-cognizant-technology-solutions-corporation-ctsh-insider-sells-1825000-00-in-stock.html.

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Cognizant Technology Solutions Corporation by 3,470.1% in the 1st quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock worth $2,425,316,000 after buying an additional 39,606,526 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Cognizant Technology Solutions Corporation by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 40,545,109 shares of the information technology service provider’s stock worth $2,413,246,000 after buying an additional 1,379,271 shares in the last quarter. FMR LLC boosted its position in shares of Cognizant Technology Solutions Corporation by 81.6% in the 2nd quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock worth $1,664,366,000 after buying an additional 11,262,360 shares in the last quarter. State Street Corp boosted its position in shares of Cognizant Technology Solutions Corporation by 1.8% in the 1st quarter. State Street Corp now owns 24,267,262 shares of the information technology service provider’s stock worth $1,444,391,000 after buying an additional 435,142 shares in the last quarter. Finally, Edgewood Management LLC boosted its position in shares of Cognizant Technology Solutions Corporation by 3.9% in the 1st quarter. Edgewood Management LLC now owns 14,706,635 shares of the information technology service provider’s stock worth $875,339,000 after buying an additional 557,035 shares in the last quarter. Institutional investors and hedge funds own 87.64% of the company’s stock.

A number of research analysts have issued reports on the stock. BMO Capital Markets restated a “buy” rating and set a $76.00 price target (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a research note on Friday, August 4th. Needham & Company LLC restated a “buy” rating and set a $78.00 price target (up previously from $72.00) on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, August 9th. Zacks Investment Research lowered shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Loop Capital upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and upped their price target for the company from $63.00 to $83.00 in a research note on Friday, August 4th. Finally, Berenberg Bank upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and upped their price target for the company from $65.00 to $85.00 in a research note on Tuesday, August 8th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $72.30.

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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