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Insider Trends: Insider at Cognizant Technology Solutions Acquires Stock Via Option/Derivative Security Sells Portion to Pay Tax, Buy Trend Intact

· 02/05/2021 11:29

04:26 PM EST, 02/05/2021 (MT Newswires) -- Becky Schmitt, EVP and Chief People Officer, exercised options/derivative securities for 8,318 shares of Cognizant Technology Solutions (CTSH) and sold 3,647 shares in the company for $289,353 to meet tax obligations on Feb 03, 2021. After accounting for tax obligations this transaction resulted in a net acquisition of 4,671 company shares. Following the Form 4 filing with the SEC, Schmitt owns 19,027 shares of the company, with a market value, based on the prior-day closing price, of $1.42 million.

During the most recent 90-day period, previous to the date of this filing, there have been 53 insider transactions reported to the SEC for Cognizant Technology Solutions. These transactions came from the activities of 11 different insiders that resulted in a net acquisition of 41,665 company shares. This compares with the preceding 90-day window of time where there were 54 transactions from 10 insiders that resulted in the net disposition of 27,231 shares.

This level of insider transactions is less than the peer group average in the 188-company IT Services & Consulting peer group over the last 90-day period. Within the peer group activity averaged 108.4 transactions per company, and disposition of 24,287 shares on average.

SEC Story Link http://www.sec.gov/Archives/edgar/data/1058290/000105829021000026/xslF345X03/wf-form4_161256021274980.xml

This report does not constitute a recommendation to purchase or sell any security and the analysts are not registered investment advisors. Further analysis is recommended before undertaking any position in any security. Any risks are solely the responsibility of the buyer/seller. The authors, publishers and distributors of the MT Newswires Live Briefs service and any associates thereof accept no liability for the content or actions taken by anyone or institution utilizing this report.