Cognizant Technology Solutions Corporation (NASDAQ:CTSH) insider Chandrasekaran Ramakrishnan sold 25,000 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the insider now owns 360,856 shares in the company, valued at approximately $25,259,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 70.77 on Friday. Cognizant Technology Solutions Corporation has a 52-week low of $45.44 and a 52-week high of $72.07. The firm has a 50-day moving average of $69.95 and a 200 day moving average of $64.22. The company has a market capitalization of $41.80 billion, a P/E ratio of 22.70 and a beta of 1.17.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.11. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.65 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. Cognizant Technology Solutions Corporation’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 EPS. Equities analysts predict that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.85%. The ex-dividend date was Friday, August 18th. Cognizant Technology Solutions Corporation’s dividend payout ratio is presently 19.17%.

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A number of equities research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Cognizant Technology Solutions Corporation from $62.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday, May 8th. Credit Suisse Group set a $80.00 price objective on shares of Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a report on Friday, August 4th. They noted that the move was a valuation call. Pacific Crest restated an “overweight” rating and issued a $75.00 price objective (up previously from $73.00) on shares of Cognizant Technology Solutions Corporation in a report on Thursday, June 1st. BidaskClub cut shares of Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $67.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Cognizant Technology Solutions Corporation presently has a consensus rating of “Buy” and an average price target of $70.02.

A number of hedge funds have recently added to or reduced their stakes in CTSH. Acadian Asset Management LLC increased its stake in Cognizant Technology Solutions Corporation by 253.9% in the first quarter. Acadian Asset Management LLC now owns 3,231 shares of the information technology service provider’s stock valued at $192,000 after buying an additional 2,318 shares during the period. Janney Montgomery Scott LLC increased its stake in Cognizant Technology Solutions Corporation by 38.6% in the first quarter. Janney Montgomery Scott LLC now owns 36,715 shares of the information technology service provider’s stock valued at $2,185,000 after buying an additional 10,225 shares during the period. Rand Wealth LLC increased its stake in Cognizant Technology Solutions Corporation by 2.7% in the first quarter. Rand Wealth LLC now owns 33,705 shares of the information technology service provider’s stock valued at $2,006,000 after buying an additional 900 shares during the period. IFP Advisors Inc increased its stake in Cognizant Technology Solutions Corporation by 40.8% in the first quarter. IFP Advisors Inc now owns 2,696 shares of the information technology service provider’s stock valued at $160,000 after buying an additional 781 shares during the period. Finally, Dillon & Associates Inc. increased its stake in Cognizant Technology Solutions Corporation by 0.8% in the first quarter. Dillon & Associates Inc. now owns 39,610 shares of the information technology service provider’s stock valued at $2,377,000 after buying an additional 320 shares during the period. 87.63% of the stock is currently owned by institutional investors.

About Cognizant Technology Solutions Corporation

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

Insider Buying and Selling by Quarter for Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

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