Robert Telesmanic Sells 243 Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) Stock

Cristopher Centers

Cognizant Technology Solutions Corp (NASDAQ:CTSH) SVP Robert Telesmanic sold 243 shares of the business’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $66.60, for a total value of $16,183.80. Following the completion of the sale, the senior vice president now directly […]

Cognizant Technology Solutions Corp (NASDAQ:CTSH) SVP Robert Telesmanic sold 243 shares of the business’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $66.60, for a total value of $16,183.80. Following the completion of the sale, the senior vice president now directly owns 9,786 shares in the company, valued at approximately $651,747.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Robert Telesmanic also recently made the following trade(s):

  • On Tuesday, August 18th, Robert Telesmanic sold 812 shares of Cognizant Technology Solutions stock. The stock was sold at an average price of $67.50, for a total value of $54,810.00.

Shares of NASDAQ CTSH opened at $68.18 on Friday. The business’s 50-day moving average price is $66.53 and its two-hundred day moving average price is $57.41. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.66 and a quick ratio of 2.66. Cognizant Technology Solutions Corp has a one year low of $40.01 and a one year high of $71.48. The company has a market capitalization of $35.55 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 1.68 and a beta of 1.20.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, July 29th. The information technology service provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.14. Cognizant Technology Solutions had a return on equity of 19.87% and a net margin of 9.67%. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. On average, equities analysts anticipate that Cognizant Technology Solutions Corp will post 3.56 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 21st were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.88 dividend on an annualized basis and a yield of 1.29%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 22.06%.

A number of hedge funds and other institutional investors have recently modified their holdings of CTSH. BlackRock Inc. raised its position in shares of Cognizant Technology Solutions by 4.2% in the second quarter. BlackRock Inc. now owns 54,466,896 shares of the information technology service provider’s stock valued at $3,094,810,000 after buying an additional 2,189,245 shares in the last quarter. State Street Corp grew its position in Cognizant Technology Solutions by 0.6% in the 1st quarter. State Street Corp now owns 23,335,779 shares of the information technology service provider’s stock worth $1,084,414,000 after purchasing an additional 145,532 shares in the last quarter. Bank of New York Mellon Corp grew its position in Cognizant Technology Solutions by 8.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,926,978 shares of the information technology service provider’s stock worth $1,245,892,000 after purchasing an additional 1,789,430 shares in the last quarter. Nordea Investment Management AB grew its position in Cognizant Technology Solutions by 94.1% in the 2nd quarter. Nordea Investment Management AB now owns 17,199,972 shares of the information technology service provider’s stock worth $985,042,000 after purchasing an additional 8,336,747 shares in the last quarter. Finally, Invesco Ltd. grew its position in Cognizant Technology Solutions by 24.3% in the 1st quarter. Invesco Ltd. now owns 13,116,889 shares of the information technology service provider’s stock worth $609,542,000 after purchasing an additional 2,568,186 shares in the last quarter. Hedge funds and other institutional investors own 89.68% of the company’s stock.

CTSH has been the topic of a number of research reports. BofA Securities raised Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $67.00 to $76.00 in a research note on Friday. Morgan Stanley boosted their target price on Cognizant Technology Solutions from $51.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. Citigroup boosted their target price on Cognizant Technology Solutions from $66.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. boosted their target price on Cognizant Technology Solutions from $69.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday, August 17th. Finally, Wells Fargo & Company boosted their target price on Cognizant Technology Solutions from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Five investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. Cognizant Technology Solutions currently has an average rating of “Hold” and an average price target of $68.27.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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