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

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Director Michael Patsalos-Fox sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $85.17, for a total value of $255,510.00. Following the sale, the director directly owned 34,729 shares in the company, valued at approximately $2,957,868.93. The trade was a 7.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $85.30, for a total value of $341,200.00.
• On Monday, December 22nd, Michael Patsalos-Fox sold 3,000 shares of Cognizant Technology Solutions stock. The shares were 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 1.4%

Shares of CTSH stock opened at $83.00 on Friday. The stock has a 50-day simple moving average of $77.80 and a 200 day simple moving average of $74.08. The stock has a market capitalization of $40.06 billion, a P/E ratio of 19.26, a P/E/G ratio of 1.69 and a beta of 0.96. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.15 and a fifty-two week high of $90.82. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.09. Cognizant Technology Solutions had a net margin of 10.20% and a return on equity of 17.00%. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the prior year, the company earned $1.25 EPS. Cognizant Technology Solutions’s 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, sell-side analysts expect that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th were given 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%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Cognizant Technology Solutions from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Guggenheim reiterated a “buy” rating and issued a $85.00 price target (down previously from $90.00) on shares of Cognizant Technology Solutions in a research report on Tuesday, October 21st. JPMorgan Chase & Co. boosted their price objective on Cognizant Technology Solutions from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Mizuho set a $85.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday, October 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research report on Monday. Seven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $85.44.

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of large investors have recently made changes to their positions in CTSH. JPL Wealth Management LLC purchased a new position in Cognizant Technology Solutions during the third quarter valued at approximately $25,000. Hilltop National Bank purchased a new position in shares of Cognizant Technology Solutions during the 2nd quarter valued at $27,000. NewSquare Capital LLC increased its stake in shares of Cognizant Technology Solutions by 71.8% in the second quarter. NewSquare Capital LLC now owns 366 shares of the information technology service provider’s stock worth $29,000 after acquiring an additional 153 shares during the last quarter. High Note Wealth LLC raised its holdings in shares of Cognizant Technology Solutions by 22,450.0% during 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 purchased a new stake in shares of Cognizant Technology Solutions during the third quarter worth $34,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.