Michael Patsalos-Fox Sells 4,000 Shares of Cognizant Technology Solutions (NASDAQ:CTSH) Stock

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Director Michael Patsalos-Fox sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $85.30, for a total value of $341,200.00. Following the transaction, the director directly owned 37,729 shares in the company, valued at $3,218,283.70. The trade was a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Michael Patsalos-Fox also recently made the following trade(s):

• On Monday, December 22nd, Michael Patsalos-Fox sold 3,000 shares of Cognizant Technology Solutions stock. The stock was sold at an average price of $85.15, for a total transaction of $255,450.00.
• On Thursday, December 11th, Michael Patsalos-Fox sold 7,000 shares of Cognizant Technology Solutions stock. The stock was sold at an average price of $83.52, for a total transaction of $584,640.00.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $85.62 on Monday. The firm has a market cap of $41.33 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 1.75 and a beta of 0.97. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.36 and a current ratio of 2.36. The business has a 50-day simple moving average of $76.54 and a two-hundred day simple moving average of $73.89. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.15 and a fifty-two week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.09. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.32 billion. Cognizant Technology Solutions had a return on equity of 17.00% and a net margin of 10.20%.The firm’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.25 earnings per share. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. On average, analysts expect that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, November 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.77%.

Institutional Investors Weigh In On Cognizant Technology Solutions

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Cognizant Technology Solutions during the 2nd quarter worth approximately $487,526,000. CIBC Bancorp USA Inc. acquired a new position in shares of Cognizant Technology Solutions during the third quarter worth $201,834,000. Voloridge Investment Management LLC increased its stake in shares of Cognizant Technology Solutions by 801.4% in the third quarter. Voloridge Investment Management LLC now owns 2,104,276 shares of the information technology service provider’s stock valued at $141,134,000 after buying an additional 1,870,834 shares during the period. Amundi raised its holdings in Cognizant Technology Solutions by 61.6% during the 1st quarter. Amundi now owns 4,519,912 shares of the information technology service provider’s stock worth $331,584,000 after purchasing an additional 1,723,335 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Cognizant Technology Solutions by 152.7% in the second quarter. Allianz Asset Management GmbH now owns 2,708,349 shares of the information technology service provider’s stock valued at $211,332,000 after buying an additional 1,636,636 shares during the period. Institutional investors own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

CTSH has been the topic of a number of recent analyst reports. Citigroup began coverage on shares of Cognizant Technology Solutions in a research note on Thursday, October 23rd. They set a “neutral” rating and a $75.00 price target on the stock. Guggenheim restated a “buy” rating and issued a $85.00 price target (down previously from $90.00) on shares of Cognizant Technology Solutions in a research note on Tuesday, October 21st. William Blair upgraded Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a report on Friday, November 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research note on Monday, December 22nd. Finally, Royal Bank Of Canada reduced their price objective on Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating for the company in a research report on Thursday, October 30th. Seven equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus target price of $85.44.

About Cognizant Technology Solutions

Cognizant Technology Solutions (NASDAQ: CTSH) is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.

Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.