Investors Buy Shares of Cognizant Technology Solutions (CTSH) on Weakness on Insider Selling

Investors purchased shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) on weakness during trading on Wednesday after an insider sold shares in the company. $51.52 million flowed into the stock on the tick-up and $28.84 million flowed out of the stock on the tick-down, for a money net flow of $22.68 million into the stock. Of all stocks tracked, Cognizant Technology Solutions had the 32nd highest net in-flow for the day. Cognizant Technology Solutions traded down ($0.73) for the day and closed at $72.25Specifically, SVP Robert Telesmanic sold 3,477 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $73.41, for a total value of $255,246.57. Following the transaction, the senior vice president now owns 10,284 shares of the company’s stock, valued at $754,948.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Matthew W. Friedrich sold 449 shares of the business’s stock in a transaction that occurred on Friday, December 14th. The shares were sold at an average price of $68.30, for a total value of $30,666.70. The disclosure for this sale can be found here. In the last three months, insiders sold 26,486 shares of company stock worth $1,784,946. Corporate insiders own 0.60% of the company’s stock.

CTSH has been the topic of a number of recent research reports. Morgan Stanley dropped their target price on Cognizant Technology Solutions from $87.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, October 31st. BidaskClub raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, January 22nd. Cowen lowered Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and set a $67.98 price objective on the stock. in a report on Sunday, December 2nd. BMO Capital Markets reaffirmed a “buy” rating and set a $82.00 price objective on shares of Cognizant Technology Solutions in a report on Tuesday, October 30th. Finally, Nomura raised Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $82.29.

The firm has a market capitalization of $42.37 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 1.63 and a beta of 0.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.12 and a quick ratio of 3.24.



Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, February 6th. The information technology service provider reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.07. The firm had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.11 billion. Cognizant Technology Solutions had a return on equity of 22.15% and a net margin of 13.03%. Cognizant Technology Solutions’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 earnings per share. As a group, research analysts predict that Cognizant Technology Solutions Corp will post 4.46 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Thursday, February 21st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Wednesday, February 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 19.90%.

A number of institutional investors have recently bought and sold shares of the business. Aurora Investment Counsel grew its holdings in Cognizant Technology Solutions by 47.2% in the fourth quarter. Aurora Investment Counsel now owns 25,388 shares of the information technology service provider’s stock valued at $1,612,000 after purchasing an additional 8,138 shares during the last quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund acquired a new stake in Cognizant Technology Solutions in the fourth quarter valued at $477,000. HighPoint Advisor Group LLC grew its holdings in Cognizant Technology Solutions by 20.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,970 shares of the information technology service provider’s stock valued at $217,000 after purchasing an additional 506 shares during the last quarter. Nordea Investment Management AB grew its holdings in Cognizant Technology Solutions by 14.9% in the fourth quarter. Nordea Investment Management AB now owns 10,187,078 shares of the information technology service provider’s stock valued at $646,676,000 after purchasing an additional 1,324,213 shares during the last quarter. Finally, Executive Wealth Management LLC acquired a new stake in Cognizant Technology Solutions in the fourth quarter valued at $970,000. 85.47% of the stock is currently owned by institutional investors.

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Cognizant Technology Solutions Company Profile (NASDAQ:CTSH)

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

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