Cognizant Technology Solutions Corp. (NASDAQ:CTSH) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 8,305,869 shares, a growth of 20.5% from the August 15th total of 6,891,646 shares. Approximately 1.4% of the shares of the stock are sold short. Based on an average trading volume of 3,516,956 shares, the short-interest ratio is currently 2.4 days.

In related news, CEO Francisco Dsouza sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $58.57, for a total transaction of $5,857,000.00. Following the completion of the sale, the chief executive officer now directly owns 422,602 shares in the company, valued at $24,751,799.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Malcolm Frank sold 1,248 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $58.50, for a total transaction of $73,008.00. Following the sale, the vice president now owns 3,945 shares of the company’s stock, valued at $230,782.50. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of CTSH. Albion Financial Group UT boosted its position in shares of Cognizant Technology Solutions Corp. by 0.4% in the second quarter. Albion Financial Group UT now owns 6,830 shares of the information technology service provider’s stock worth $391,000 after buying an additional 25 shares in the last quarter. LS Investment Advisors LLC boosted its position in shares of Cognizant Technology Solutions Corp. by 0.3% in the second quarter. LS Investment Advisors LLC now owns 13,412 shares of the information technology service provider’s stock worth $768,000 after buying an additional 46 shares in the last quarter. Commerce Bank boosted its position in shares of Cognizant Technology Solutions Corp. by 1.5% in the second quarter. Commerce Bank now owns 3,971 shares of the information technology service provider’s stock worth $227,000 after buying an additional 57 shares in the last quarter. Wedbush Securities Inc. boosted its position in shares of Cognizant Technology Solutions Corp. by 0.4% in the second quarter. Wedbush Securities Inc. now owns 18,283 shares of the information technology service provider’s stock worth $1,047,000 after buying an additional 75 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Cognizant Technology Solutions Corp. by 1.2% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 6,804 shares of the information technology service provider’s stock worth $390,000 after buying an additional 80 shares in the last quarter. Institutional investors own 86.86% of the company’s stock.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) opened at 52.96 on Wednesday. The company has a market cap of $32.14 billion, a P/E ratio of 21.35 and a beta of 1.28. The stock’s 50 day moving average is $57.01 and its 200-day moving average is $58.98. Cognizant Technology Solutions Corp. has a 12-month low of $51.22 and a 12-month high of $69.80.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last issued its quarterly earnings results on Friday, August 5th. The information technology service provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.82 by $0.05. Cognizant Technology Solutions Corp. had a net margin of 11.65% and a return on equity of 19.31%. The company earned $3.37 billion during the quarter, compared to analysts’ expectations of $3.37 billion. During the same quarter in the previous year, the company earned $0.79 EPS. Cognizant Technology Solutions Corp.’s revenue was up 9.2% on a year-over-year basis. Analysts predict that Cognizant Technology Solutions Corp. will post $3.37 earnings per share for the current fiscal year.

A number of analysts recently weighed in on the stock. Barclays PLC restated a “buy” rating on shares of Cognizant Technology Solutions Corp. in a report on Saturday, July 9th. Needham & Company LLC reduced their target price on shares of Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a “buy” rating for the company in a report on Monday, August 8th. Cantor Fitzgerald set a $68.00 target price on shares of Cognizant Technology Solutions Corp. and gave the stock a “buy” rating in a report on Friday, August 5th. Nomura cut shares of Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $65.00 to $62.00 in a report on Monday, August 8th. Finally, Citigroup Inc. reduced their target price on shares of Cognizant Technology Solutions Corp. from $71.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Cognizant Technology Solutions Corp. currently has an average rating of “Buy” and a consensus price target of $66.87.

Cognizant Technology Solutions Corp. Company Profile

Cognizant Technology Solutions Corporation is a provider of information technology (IT), consulting and business process services. The Company operates through four segments: Financial Services, which includes customers 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 customers providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology.

5 Day Chart for NASDAQ:CTSH

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