Investors Sell Cognizant Technology Solutions (CTSH) on Strength (CTSH)
Traders sold shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) on strength during trading on Wednesday. $105.24 million flowed into the stock on the tick-up and $138.59 million flowed out of the stock on the tick-down, for a money net flow of $33.35 million out of the stock. Of all stocks tracked, Cognizant Technology Solutions had the 33rd highest net out-flow for the day. Cognizant Technology Solutions traded up $2.62 for the day and closed at $76.52
Several equities research analysts have recently weighed in on CTSH shares. SunTrust Banks reissued a “buy” rating and set a $85.00 price objective on shares of Cognizant Technology Solutions in a research note on Friday, November 3rd. Credit Suisse Group reissued an “outperform” rating and set a $89.00 price objective (up from $80.00) on shares of Cognizant Technology Solutions in a research note on Thursday, November 2nd. Citigroup raised their price objective on Cognizant Technology Solutions from $73.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. BidaskClub raised Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. Finally, Morgan Stanley raised their price objective on Cognizant Technology Solutions from $77.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. Cognizant Technology Solutions presently has an average rating of “Buy” and a consensus target price of $84.21.
The company has a current ratio of 3.21, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07. The company has a market cap of $44,980.00, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Thursday, February 22nd will be issued a dividend of $0.20 per share. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 1.05%. The ex-dividend date is Wednesday, February 21st. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 23.81%.
In other Cognizant Technology Solutions news, President Rajeev Mehta sold 34,000 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $79.13, for a total transaction of $2,690,420.00. Following the transaction, the president now directly owns 35,020 shares in the company, valued at $2,771,132.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Francisco Dsouza sold 482,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $72.04, for a total value of $34,723,280.00. Following the transaction, the chief executive officer now owns 621,643 shares in the company, valued at $44,783,161.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 996,790 shares of company stock worth $73,331,177. Corporate insiders own 1.08% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Shine Investment Advisory Services Inc. increased its stake in shares of Cognizant Technology Solutions by 108.8% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock worth $107,000 after purchasing an additional 788 shares during the period. Vestpro Financial Partners Inc. dba CPF Texas bought a new position in shares of Cognizant Technology Solutions in the fourth quarter worth about $107,000. Bank of Nova Scotia Trust Co. bought a new position in shares of Cognizant Technology Solutions in the third quarter worth about $121,000. Cerebellum GP LLC bought a new position in shares of Cognizant Technology Solutions in the fourth quarter worth about $128,000. Finally, WFG Advisors LP increased its stake in shares of Cognizant Technology Solutions by 46.4% in the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after purchasing an additional 621 shares during the period. Institutional investors own 86.95% of the company’s stock.
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Cognizant Technology Solutions 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.
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