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 Cognizant Technology Solutions stock in a transaction that occurred on Monday, December 29th. The shares were 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. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 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 stock was sold at an average price of $83.52, for a total value of $584,640.00.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $83.00 on Thursday. The stock has a market cap of $40.06 billion, a P/E ratio of 19.26, a P/E/G ratio of 1.72 and a beta of 0.97. The firm’s 50-day simple moving average is $77.50 and its 200 day simple moving average is $74.02. 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 released its quarterly 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. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.32 billion. Cognizant Technology Solutions had a net margin of 10.20% and a return on equity of 17.00%. Cognizant Technology Solutions’s revenue was up 7.5% on a year-over-year basis. During the same period 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. Equities analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

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

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Citigroup started coverage on Cognizant Technology Solutions in a research note on Thursday, October 23rd. They set a “neutral” rating and a $75.00 target price for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research report on Monday. Royal Bank Of Canada dropped their target price on shares of Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating on the stock in a report on Thursday, October 30th. Mizuho set a $85.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, October 30th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $82.00 price target (up previously from $78.00) on shares of Cognizant Technology Solutions in a report on Monday, December 8th. Seven investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $85.44.

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.