Friday, January 19, 2018 10:15 PM ET
Significant Insider Sales Reported in Shares of Cognizant Technology Solutions (CTSH) Extending the Trend of Last Quarter
There was a significant level of insider selling revealed today in filings with the SEC for Cognizant Technology Solutions. Three insiders — Chandrasekaran Ramakrishnan, Officer, Rajeev Mehta, Officer, and Sumithra Gomatam, Officer — disposed of 70,125 shares in the company for approximately $5,329,500. There have been 11 insiders with buy/sell transactions in the past 90 days prior to these filings. All of these trades have been sales resulting in the disposition of 118,083 company shares. Adding the most recent activity to this 90-day history indicates insider trades have seen net sales of 188,208 shares and have averaged 13,443 shares per transaction over this time period.
The number of insider buy/sell trades at Cognizant Technology Solutions is higher than that of the 160 peer company average over the last 90-day period. The IT Services & Consulting peer group saw 233 buy/sell trades during this period for an average of 1.5 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 1,278,829 shares purchased and 4,229,532 shares sold with company insiders disposing of 12,664 shares on average over this time period.
In determining significant insider buying and selling, trades reported to the SEC that involve awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers have been eliminated in data obtained to evaluate and write this story.
Today’s Insider Activity
* Chandrasekaran Ramakrishnan, Officer, sold 25,000 shares
* Rajeev Mehta, Officer, sold 42,500 shares
* Sumithra Gomatam, Officer, sold 2,625 shares
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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