November 30, 2016 - By Marie Mckinney
Chief Financial Officer, Karen Mcloughlin is the Cognizant Technology Solutions Corp’s insider who sold shares of Cognizant Technology Solutions Corp, 1,873 to be exact. The company’s shares were based on a stock price per share of $58.2, with Karen Mcloughlin’s transaction valued at $108,936 U.S Dollars. This is not her first insider trade, in the last 30 days, she unloaded another 10,000 shares worth $512,737 USD. Karen Mcloughlin presently owns 40,741 shares or 0.01% of the Company’s total market cap (Market Capitalization is a measurement of business value based on share price and number of shares outstanding).
Out of 21 analysts covering Cognizant Technology Solutions Corp. (NASDAQ:CTSH), 13 rate it a “Buy”, 2 “Sell”, while 6 “Hold”. This means 62% are positive. $82 is the highest target while $48 is the lowest. The $65.85 average target is 18.37% above today’s ($55.63) stock price. Cognizant Technology Solutions Corp. has been the topic of 35 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The stock has “Sell” rating given by Zacks on Monday, August 10. The rating was maintained by Citigroup with “Buy” on Wednesday, July 20. The firm has “Buy” rating given on Friday, October 16 by Cantor Fitzgerald. The rating was maintained by Jefferies with “Buy” on Monday, October 10. On Wednesday, November 23 the stock rating was downgraded by William Blair to “Market Perform”. On Friday, September 30 the stock rating was downgraded by Citigroup to “Neutral”. Argus Research maintained the shares of CTSH in a report on Tuesday, August 11 with “Buy” rating. As per Thursday, August 6, the company rating was maintained by BMO Capital Markets. The firm earned “Neutral” rating on Thursday, September 15 by Goldman Sachs. Needham maintained it with “Buy” rating and $78 target price in Thursday, August 6 report.
Insitutional Activity: The institutional sentiment decreased to 0.93 in Q2 2016. Its down 0.04, from 0.97 in 2016Q1. The ratio dropped, as 65 funds sold all Cognizant Technology Solutions Corp shares owned while 291 reduced positions. 67 funds bought stakes while 278 increased positions. They now own 506.90 million shares or 5.36% less from 535.62 million shares in 2016Q1.
Putnam Ltd Company holds 0% or 13,483 shares in its portfolio. Ashmore Wealth Ltd Limited Liability Company accumulated 2.32M shares or 5.12% of the stock. Investec Asset Mgmt Ltd has invested 0.21% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH). Boothbay Fund Management Ltd Co last reported 11,541 shares in the company. Wedgewood Prns Inc has 6.52% invested in the company for 5.62M shares. Scotia Capital reported 46,345 shares or 0.05% of all its holdings. Cornercap Investment Counsel Inc last reported 0.21% of its portfolio in the stock. Vision Cap Mngmt accumulated 45,765 shares or 1.11% of the stock. Brave Asset Mgmt Incorporated holds 0.02% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH) for 600 shares. Clearbridge Ltd holds 0% or 1,000 shares in its portfolio. Schwerin Boyle Capital accumulated 179,900 shares or 1.48% of the stock. Allianz Asset Mgmt Ag last reported 0.01% of its portfolio in the stock. Fmr Llc holds 0.18% or 22.82 million shares in its portfolio. Edmp Inc holds 2.81% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH) for 50,569 shares. Busey Trust Company, a Illinois-based fund reported 74,992 shares.
Insider Transactions: Since June 3, 2016, the stock had 0 insider purchases, and 9 insider sales for $31.02 million net activity. Another trade for 8,780 shares valued at $526,457 was made by Frank Malcolm on Friday, June 3. 20,000 shares were sold by McLoughlin Karen, worth $1.20M. 527 shares were sold by Schwartz Steven, worth $31,944 on Tuesday, June 7. DSOUZA FRANCISCO sold $11.54M worth of stock. COBURN GORDON sold $1.38 million worth of stock or 22,881 shares.
The stock decreased 2.32% or $1.32 during the last trading session, hitting $55.63. Cognizant Technology Solutions Corp (NASDAQ:CTSH) has declined 8.17% since April 27, 2016 and is downtrending. It has underperformed by 13.40% the S&P500.
Cognizant Technology Solutions Corporation is a well-known provider of information technology , consulting and business process services. The company has a market cap of $36.10 billion. The Firm operates through four divisions: Financial Services, which includes clients providing banking/transaction processing, capital markets and insurance services; Healthcare, which includes healthcare providers and payers, as well as life sciences customers, including pharmaceutical, biotech and medical device companies; Manufacturing, Retail and Logistics, which includes manufacturers, retailers, travel and other hospitality customers, as well as clients providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology. It has a 21.76 P/E ratio.
According to Zacks Investment Research, “Cognizant Technology Solutions delivers high-quality, cost-effective, full life cycle solutions to complex software development and maintenance problems that companies face as they transition to e-business. These services are delivered through the use of a seamless on-site and offshore consulting project team. The company’s solutions include application development and integration, application management, re-engineering, and mass change services.”
Analysts await Cognizant Technology Solutions Corp (NASDAQ:CTSH) to report earnings on February, 13. They expect $0.77 EPS, up 4.05% or $0.03 from last year’s $0.74 per share. CTSH’s profit will be $499.68M for 18.06 P/E if the $0.77 EPS becomes a reality. After $0.81 actual EPS reported by Cognizant Technology Solutions Corp for the previous quarter, Wall Street now forecasts -4.94% negative EPS growth.
More news for Cognizant Technology Solutions Corp (NASDAQ:CTSH) were recently published by: Reuters.com, which released: “BRIEF-Elliott management sends letter to Cognizant Technology Solutions Co..” on November 28, 2016. Prnewswire.com‘s article titled: “SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered ..” and published on November 22, 2016 is yet another important article.
Cognizant Technology Solutions Corporation, incorporated on April 6, 1988, is a well-known provider of information technology (IT), consulting and business process services. The Firm operates through four divisions: Financial Services, which includes clients providing banking/transaction processing, capital markets and insurance services; Healthcare, which includes healthcare providers and payers, as well as life sciences customers, including pharmaceutical, biotech and medical device companies; Manufacturing, Retail and Logistics, which includes manufacturers, retailers, travel and other hospitality customers, as well as clients providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology. The Company’s competencies include business, process, activities and IT consulting, application development and systems integration, enterprise information management, application testing, application maintenance and IT infrastructure services.
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