Insider Selling: Cognizant Technology Solutions (NASDAQ:CTSH) Director Sells 2,000 Shares of Stock

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Director Michael Patsalos-Fox sold 2,000 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $84.23, for a total value of $168,460.00. Following the completion of the transaction, the director owned 29,729 shares of the company’s stock, valued at approximately $2,504,073.67. This trade represents a 6.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, December 29th, Michael Patsalos-Fox sold 3,000 shares of Cognizant Technology Solutions stock. The shares were sold at an average price of $85.17, for a total transaction of $255,510.00.
• On Wednesday, December 24th, Michael Patsalos-Fox sold 4,000 shares of Cognizant Technology Solutions stock. The stock was sold at an average price of $85.30, for a total transaction of $341,200.00.
• 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 Stock Down 0.6%

Shares of Cognizant Technology Solutions stock traded down $0.51 during midday trading on Friday, hitting $85.26. The company had a trading volume of 3,235,852 shares, compared to its average volume of 3,555,324. Cognizant Technology Solutions Corporation has a 52-week low of $65.15 and a 52-week high of $90.82. 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 stock has a market capitalization of $41.15 billion, a P/E ratio of 19.78, a P/E/G ratio of 1.61 and a beta of 0.96. The company has a 50 day moving average of $79.20 and a 200 day moving average of $74.25.

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

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th were issued a dividend of $0.31 per share. The ex-dividend date was Tuesday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.5%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.77%.

Hedge Funds Weigh In On Cognizant Technology Solutions

Institutional investors have recently bought and sold shares of the stock. JPL Wealth Management LLC bought a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at approximately $25,000. Hilltop National Bank purchased a new stake in shares of Cognizant Technology Solutions during the 2nd quarter valued at about $27,000. NewSquare Capital LLC lifted its holdings in shares of Cognizant Technology Solutions by 71.8% in the 2nd quarter. NewSquare Capital LLC now owns 366 shares of the information technology service provider’s stock valued at $29,000 after acquiring an additional 153 shares during the last quarter. High Note Wealth LLC grew its position in Cognizant Technology Solutions by 22,450.0% in the third quarter. High Note Wealth LLC now owns 451 shares of the information technology service provider’s stock worth $30,000 after acquiring an additional 449 shares in the last quarter. Finally, New Millennium Group LLC bought a new stake in Cognizant Technology Solutions during the third quarter worth approximately $34,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CTSH. TD Cowen boosted their price target on Cognizant Technology Solutions from $78.00 to $84.00 and gave the stock a “hold” rating in a research note on Friday. JPMorgan Chase & Co. boosted their target price on Cognizant Technology Solutions from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $84.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, October 29th. Guggenheim reaffirmed a “buy” rating and issued a $85.00 price objective (down previously from $90.00) on shares of Cognizant Technology Solutions in a report on Tuesday, October 21st. 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 fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average price target of $85.35.

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.