Cognizant Technology Solutions Sees Unusually High Options Volume (NASDAQ:CTSH)

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Cognizant Technology Solutions Corp (NASDAQ:CTSH) was the recipient of unusually large options trading activity on Thursday. Stock traders bought 2,713 put options on the company. This is an increase of 820% compared to the typical volume of 295 put options.

In other Cognizant Technology Solutions news, SVP Robert Telesmanic sold 2,484 shares of Cognizant Technology Solutions stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $65.00, for a total transaction of $161,460.00. Following the completion of the transaction, the senior vice president now directly owns 7,337 shares of the company’s stock, valued at $476,905. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Karen Mcloughlin sold 1,523 shares of Cognizant Technology Solutions stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $64.92, for a total transaction of $98,873.16. Following the transaction, the chief financial officer now directly owns 66,043 shares of the company’s stock, valued at $4,287,511.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,048 shares of company stock valued at $2,789,039. Company insiders own 0.56% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Cognizant Technology Solutions by 17.5% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 522,136 shares of the information technology service provider’s stock worth $33,098,000 after buying an additional 77,588 shares in the last quarter. Rehmann Capital Advisory Group boosted its holdings in shares of Cognizant Technology Solutions by 7.4% during the 2nd quarter. Rehmann Capital Advisory Group now owns 5,646 shares of the information technology service provider’s stock worth $358,000 after buying an additional 389 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Cognizant Technology Solutions by 51.1% during the 2nd quarter. Mackenzie Financial Corp now owns 103,122 shares of the information technology service provider’s stock worth $6,537,000 after buying an additional 34,870 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Cognizant Technology Solutions by 3.7% during the 2nd quarter. BlackRock Inc. now owns 48,909,575 shares of the information technology service provider’s stock worth $3,100,379,000 after buying an additional 1,756,108 shares in the last quarter. Finally, Chartwell Investment Partners LLC boosted its holdings in shares of Cognizant Technology Solutions by 3.0% during the 2nd quarter. Chartwell Investment Partners LLC now owns 46,471 shares of the information technology service provider’s stock worth $2,946,000 after buying an additional 1,358 shares in the last quarter. Hedge funds and other institutional investors own 91.45% of the company’s stock.

A number of equities analysts have commented on CTSH shares. HSBC cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $72.00 to $70.00 in a research report on Tuesday, July 23rd. UBS Group cut shares of Cognizant Technology Solutions from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $62.00 to $60.00 in a research report on Friday, August 2nd. Robert W. Baird set a $76.00 price objective on shares of Cognizant Technology Solutions and gave the stock a “buy” rating in a research report on Friday, September 6th. TheStreet raised shares of Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a research report on Tuesday, July 23rd. Finally, Barclays assumed coverage on shares of Cognizant Technology Solutions in a research report on Friday. They issued an “underweight” rating and a $64.00 target price for the company. Six investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the stock. Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus price target of $74.00.

Shares of CTSH stock opened at $61.80 on Friday. The business’s 50 day simple moving average is $62.39 and its 200 day simple moving average is $65.61. Cognizant Technology Solutions has a one year low of $56.73 and a one year high of $77.87. The stock has a market capitalization of $35.35 billion, a PE ratio of 15.37, a PEG ratio of 1.47 and a beta of 1.07. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 2.55.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, July 31st. The information technology service provider reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. Cognizant Technology Solutions had a return on equity of 20.52% and a net margin of 12.61%. The business had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the prior year, the business posted $1.05 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. As a group, research analysts expect that Cognizant Technology Solutions will post 3.96 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Wednesday, August 21st. Cognizant Technology Solutions’s payout ratio is 19.90%.

Cognizant Technology Solutions Company Profile

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 analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

Further Reading: Fundamental Analysis

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