Here is the rundown on market activity for Cognizant Technology Solutions (NASDAQ:CTSH). Pres – Cognizant Accelerator Sean Middleton sold 33 shares at an average price of $66.99 on Mon the 10th. The Pres – Cognizant Accelerator now owns $161,781 of the stock as recorded in a recent Form 4 SEC filing. Dharmendra Kumar Sinha, President Global Client Serv. let go of $448,596 worth of shares at an average price of $68.00 on June 21st. Sinha now owns $792,948 of stock per an SEC filing yesterday.
EVP Corporate Development Allen Shaheen disclosed the sale of 4,186 shares of (CTSH). The shares were purchased at an average price of $67.56. Shaheen now owns $29,862 of the stock per the Form 4 SEC filing.
Cognizant Technology Solutions Corporation, launched on April 6, 1988, is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Business’s services include consulting and technology services and outsourcing services. Its consulting and technology services include business, process, operations and technology consulting, application development and systems integrations, application testing, enterprise information management and software solutions and related services. Its outsourcing services include application maintenance, IT infrastructure services and business process services. The Company deploys a range of commercial and delivery models, including managed services, fixed bid, output and outcome based pricing and platforms to address the various needs of its customers..
These firms have also modified their investment in CTSH. Swedbank divested its holdings by shedding 1,226,074 shares a decrease of 15.9%. Swedbank now holds 6,505,003 shares worth $431,932,000. The total value of its holdings decreased 6.1%. As of quarter end Genesis Asset Managers, Llp had disposed of a total of 3,545,204 shares trimming its position 44.4%. The value of the investment in (CTSH) went from $474,783,000 to $294,263,000 a change of $180,520,000 for the reporting period.
As of the end of the quarter Gateway Investment Advisers LLC had sold 7,605 shares trimming its stake by 1.9%. The value of the company’s investment in Cognizant Technology Solutions increased from $24,374,000 to $26,686,000 a change of 9.5% quarter over quarter. As of quarter end Webster Bank, N. A. had disposed of a total of 964 shares trimming its holdings by 2.1%. The value of the total investment in Cognizant Technology Solutions increased from $2,784,000 to $3,041,000 increasing 9.2% since the last quarter.
On June 5 the stock rating was downgraded from “Buy” to “Hold” in a report from Societe Generale. On November 23 the company was downgraded to “Market Perform” from “Outperform” by analysts at William Blair.
On November 22 the company was downgraded from “Buy” to “Underperform” with a current price target of $48.00 in a report issued by Bank of America. Equity analyst Bank of America lowered the price target and downgraded the stock on November 22 cutting the price target from $60.00 to $48.00 and moving the rating from “Buy” to “Underperform”.
On September 30 the stock rating was downgraded from “Buy” to “Buy” in a statement from Citigroup. On September 30 the stock rating was downgraded from “” to “Neutral” and a price target of $55.00 was set in an announcement from Argus Research.
In the market the company is trading up by 0.78 percent from yesterday’s close. The company recently announced a dividend paid on Wednesday the 31st of May 2017. The dividend payment was $0.150 per share for the quarter which is $0.60 annualized. This dividend amount was represent a yeild of $0.90. The ex-dividend date was Thursday the 18th of May 2017.
The stock last traded at $68.13 which is just over $66.43, the stock’s 50 day moving average and a bit higher than the 200 day moving average of $60.07. The 50 day moving average was up by +2.56% and the 200 day average was up $8.06.
Cognizant Technology Solutions currently has a P/E ratio of 24.78 and the market cap is 40.13B. In the latest earnings report the EPS was $2.75 and is estimated to be $3.66 for the current year with 588,996,000 shares presently outstanding. Analysts expect next quarter’s EPS to be $0.95 and the next full year EPS is anticipated to be $4.32.
Short traders are more bullish on Cognizant Technology Solutions lately if you put credence in the change in short interest. The firm had a fall in short interest from June 15, 2017 to May 31, 2017 of -9.61%. Short shares fell 1,330,284 over that period. With short interest at 12,509,207 and short average daily volume at 4,244,577, the short-interest ratio is 2.9 and the short interest percentage is 0.02% as of May 31.