Cognizant Technology Solutions (NASDAQ:CTSH) Director Michael Patsalos-Fox Sells 3,000 Shares

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Director Michael Patsalos-Fox sold 3,000 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $85.15, for a total transaction of $255,450.00. Following the completion of the transaction, the director owned 41,729 shares in the company, valued at approximately $3,553,224.35. This trade represents a 6.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 value of $341,200.00.
• On Thursday, December 11th, Michael Patsalos-Fox sold 7,000 shares of Cognizant Technology Solutions stock. The shares were sold at an average price of $83.52, for a total value of $584,640.00.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $85.00 on Tuesday. The stock has a 50 day simple moving average of $76.90 and a 200 day simple moving average of $73.92. The stock has a market cap of $41.03 billion, a P/E ratio of 19.72, a PEG ratio of 1.75 and a beta of 0.97. Cognizant Technology Solutions Corporation has a 1-year low of $65.15 and a 1-year high of $90.82. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the business earned $1.25 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th were paid a $0.31 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $1.24 annualized dividend and a yield of 1.5%. Cognizant Technology Solutions’s payout ratio is 28.77%.

Wall Street Analysts Forecast Growth

CTSH has been the topic of several recent research reports. Citigroup assumed coverage on shares of Cognizant Technology Solutions in a report on Thursday, October 23rd. They set a “neutral” rating and a $75.00 target price on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research note on Monday, December 22nd. JPMorgan Chase & Co. upped their target price on Cognizant Technology Solutions from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. UBS Group restated a “neutral” rating and issued a $82.00 price target (up previously from $78.00) on shares of Cognizant Technology Solutions in a research report on Monday, December 8th. Finally, Guggenheim reaffirmed a “buy” rating and set a $85.00 price objective (down previously from $90.00) on shares of Cognizant Technology Solutions in a research report on Tuesday, October 21st. Seven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average target price of $85.44.

Institutional Trading of Cognizant Technology Solutions

Large investors have recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Cognizant Technology Solutions in the second quarter worth about $74,917,000. State Street Corp increased its position in Cognizant Technology Solutions by 0.6% during the 2nd quarter. State Street Corp now owns 25,381,572 shares of the information technology service provider’s stock worth $1,980,524,000 after purchasing an additional 157,427 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Cognizant Technology Solutions by 60.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 39,474 shares of the information technology service provider’s stock valued at $3,079,000 after purchasing an additional 14,946 shares during the last quarter. Summit Global Investments boosted its position in Cognizant Technology Solutions by 245.1% in the second quarter. Summit Global Investments now owns 35,588 shares of the information technology service provider’s stock valued at $2,777,000 after buying an additional 25,276 shares in the last quarter. Finally, Amundi grew its stake in shares of Cognizant Technology Solutions by 5.2% during the second quarter. Amundi now owns 4,755,344 shares of the information technology service provider’s stock worth $381,135,000 after buying an additional 235,432 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Company Profile

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.