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

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Director Michael Patsalos-Fox sold 4,000 shares of Cognizant Technology Solutions stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $85.30, for a total value of $341,200.00. Following the completion of the transaction, the director owned 37,729 shares of the company’s stock, valued at approximately $3,218,283.70. This represents a 9.59% decrease in their position. The sale was disclosed in a filing 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 value of $255,450.00.
• 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 Trading Down 0.7%

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

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 EPS for the quarter, topping the consensus estimate 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 net margin of 10.20% and a return on equity of 17.00%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 EPS. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. On average, equities research analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Tuesday, November 18th were paid a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.5%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.77%.

Analysts Set New Price Targets

A number of equities analysts have commented on CTSH shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Cognizant Technology Solutions in a report on Monday, December 22nd. Guggenheim reiterated a “buy” rating and set a $85.00 price target (down from $90.00) on shares of Cognizant Technology Solutions in a research report on Tuesday, October 21st. The Goldman Sachs Group restated a “neutral” rating and issued a $84.00 price objective on shares of Cognizant Technology Solutions in a report on Wednesday, October 29th. JPMorgan Chase & Co. upped their target price on shares of Cognizant Technology Solutions from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, Wells Fargo & Company raised their price target on shares of Cognizant Technology Solutions from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Seven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cognizant Technology Solutions currently has an average rating of “Hold” and an average target price of $85.44.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in Cognizant Technology Solutions during the second quarter worth about $487,526,000. CIBC Bancorp USA Inc. purchased a new stake in shares of Cognizant Technology Solutions in the 3rd quarter valued at approximately $201,834,000. Voloridge Investment Management LLC increased its holdings in shares of Cognizant Technology Solutions by 801.4% during the 3rd quarter. Voloridge Investment Management LLC now owns 2,104,276 shares of the information technology service provider’s stock worth $141,134,000 after buying an additional 1,870,834 shares during the last quarter. Amundi raised its position in shares of 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 valued at $331,584,000 after buying an additional 1,723,335 shares during the period. 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 acquiring an additional 1,636,636 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

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.