Cognizant Technology Solutions Co. (NASDAQ:CTSH) Short Interest Update

Cognizant Technology Solutions Co. (NASDAQ:CTSH) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 14,240,000 shares, an increase of 5.2% from the September 15th total of 13,530,000 shares. Approximately 2.9% of the shares of the company are sold short. Based on an average daily volume of 3,470,000 shares, the short-interest ratio is presently 4.1 days.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock traded up $0.14 during trading on Thursday, hitting $77.74. The stock had a trading volume of 2,012,027 shares, compared to its average volume of 3,833,472. The business has a fifty day moving average of $76.32 and a two-hundred day moving average of $71.63. Cognizant Technology Solutions has a fifty-two week low of $62.14 and a fifty-two week high of $80.27. The firm has a market cap of $38.65 billion, a P/E ratio of 18.69, a PEG ratio of 2.16 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. Cognizant Technology Solutions’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $1.10 EPS. On average, sell-side analysts expect that Cognizant Technology Solutions will post 4.62 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.20 annualized dividend and a dividend yield of 1.54%. Cognizant Technology Solutions’s dividend payout ratio is currently 28.85%.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the transaction, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Cognizant Technology Solutions

Several large investors have recently modified their holdings of CTSH. Trust Point Inc. purchased a new stake in shares of Cognizant Technology Solutions during the third quarter valued at $227,000. Stonegate Investment Group LLC purchased a new stake in Cognizant Technology Solutions during the third quarter valued at about $279,000. V Square Quantitative Management LLC boosted its holdings in shares of Cognizant Technology Solutions by 1.8% in the third quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock worth $862,000 after buying an additional 194 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Cognizant Technology Solutions by 0.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,502 shares of the information technology service provider’s stock worth $4,284,000 after acquiring an additional 298 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its holdings in shares of Cognizant Technology Solutions by 3.8% during the third quarter. Bleakley Financial Group LLC now owns 5,972 shares of the information technology service provider’s stock valued at $461,000 after acquiring an additional 220 shares during the period. 92.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CTSH has been the subject of several recent research reports. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday. Robert W. Baird increased their target price on Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Royal Bank of Canada raised their target price on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 28th. Barclays upped their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $77.44.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.