Monday, November 20, 2017 10:15 PM ET
Insider Sale at Cognizant Technology Solutions (CTSH) Continues Selling Trend
A substantial insider sale of the shares of Cognizant Technology Solutions was revealed in a form 4 document filed with the SEC today, showing — Rajeev Mehta, Officer — sold 42,500 shares in the company having a market value of approximately $3,198,125. There have been 11 insiders with buy/sell transactions in the past 90 days prior to this filing. All of these trades have been sales resulting in the sale of 180,275 company shares. Adding the most recent activity to this 90-day history indicates insider trades have seen net sales of 222,775 shares and have averaged 18,565 shares per transaction over this time period.
The number of insider buy/sell trades at Cognizant Technology Solutions is above that of the 157 peer company average over the last 90-day period. The IT Services & Consulting peer group saw 254 buy/sell trades during this period for an average of 1.6 transactions per company. However, the number of shares traded per transaction by Cognizant Technology Solutions insiders is lower than its peers. Within the peer group there were 2,005,754 shares purchased and 16,016,310 shares sold with company insiders disposing of 55,160 shares on average over this time period.
Insider buying and selling activity that is significant has been determined by eliminating all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers in creating and writing this story.
Using proprietary Natural Language Generation (NLG) technology, UpTick evaluates corporate insider filings reported to the SEC and creates real-time news and analysis to report the most significant insider transactions based on transaction type, size and historical trends.
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