Stock Traders Purchase Large Volume of Call Options on Cognizant Technology Solutions Corp (CTSH)

Cognizant Technology Solutions Corp (NASDAQ:CTSH) was the target of unusually large options trading on Wednesday. Stock traders acquired 20,753 call options on the stock. This represents an increase of 798% compared to the average daily volume of 2,310 call options.

CTSH has been the subject of several research analyst reports. William Blair downgraded Cognizant Technology Solutions Corp from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 24th. Vetr downgraded Cognizant Technology Solutions Corp from a “buy” rating to a “hold” rating and set a $60.45 target price for the company. in a research report on Monday, March 13th. SunTrust Banks, Inc. upgraded Cognizant Technology Solutions Corp from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Thursday, April 13th. Morgan Stanley downgraded Cognizant Technology Solutions Corp from an “overweight” rating to an “equal weight” rating and set a $59.00 target price for the company. in a research report on Tuesday, January 31st. Finally, Berenberg Bank initiated coverage on Cognizant Technology Solutions Corp in a research note on Wednesday, March 29th. They set a “hold” rating and a $65.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $63.45.

In other news, COO Srinivasan Veeraraghavachary sold 3,069 shares of Cognizant Technology Solutions Corp stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $65.00, for a total transaction of $199,485.00. Following the completion of the sale, the chief operating officer now directly owns 24,737 shares in the company, valued at $1,607,905. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sean Middleton sold 1,890 shares of Cognizant Technology Solutions Corp stock in a transaction on Friday, April 28th. The stock was sold at an average price of $60.00, for a total value of $113,400.00. Following the sale, the insider now owns 5,888 shares of the company’s stock, valued at $353,280. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,869 shares of company stock valued at $2,580,012. Corporate insiders own 0.81% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTSH. BlackRock Inc. increased its position in Cognizant Technology Solutions Corp by 3,470.1% in the first quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock worth $2,425,316,000 after buying an additional 39,606,526 shares during the last quarter. Vanguard Group Inc. increased its position in Cognizant Technology Solutions Corp by 3.5% in the first quarter. Vanguard Group Inc. now owns 40,545,109 shares of the information technology service provider’s stock worth $2,413,246,000 after buying an additional 1,379,271 shares during the last quarter. State Street Corp increased its position in Cognizant Technology Solutions Corp by 1.8% in the first quarter. State Street Corp now owns 24,267,262 shares of the information technology service provider’s stock worth $1,444,391,000 after buying an additional 435,142 shares during the last quarter. Edgewood Management LLC increased its position in Cognizant Technology Solutions Corp by 3.9% in the first quarter. Edgewood Management LLC now owns 14,706,635 shares of the information technology service provider’s stock worth $875,339,000 after buying an additional 557,035 shares during the last quarter. Finally, FMR LLC increased its position in Cognizant Technology Solutions Corp by 2.3% in the first quarter. FMR LLC now owns 13,803,392 shares of the information technology service provider’s stock worth $821,576,000 after buying an additional 314,137 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at 65.42 on Friday. The stock has a market cap of $38.53 billion, a price-to-earnings ratio of 23.80 and a beta of 1.28. Cognizant Technology Solutions Corp has a 52 week low of $45.44 and a 52 week high of $65.52. The stock’s 50 day moving average price is $60.69 and its 200-day moving average price is $57.53.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) last released its quarterly earnings data on Friday, May 5th. The information technology service provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Cognizant Technology Solutions Corp had a return on equity of 18.83% and a net margin of 11.52%. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter in the prior year, the business posted $0.80 EPS. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities analysts anticipate that Cognizant Technology Solutions Corp will post $3.66 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 31st. Stockholders of record on Tuesday, May 23rd will be issued a $0.15 dividend. The ex-dividend date is Thursday, May 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.92%.

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About Cognizant Technology Solutions Corp

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.

12 Month Chart for NASDAQ:CTSH

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