Short Interest in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Rises By 26.5%

Cognizant Technology Solutions Co. (NASDAQ:CTSH) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 13,320,000 shares, an increase of 26.5% from the March 15th total of 10,530,000 shares. Based on an average daily volume of 4,520,000 shares, the short-interest ratio is presently 2.9 days. Currently, 2.7% of the company’s shares are short sold.

Cognizant Technology Solutions Stock Down 1.2 %

NASDAQ:CTSH traded down $0.84 during midday trading on Monday, hitting $68.42. 2,953,751 shares of the company were exchanged, compared to its average volume of 4,388,863. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions has a fifty-two week low of $58.09 and a fifty-two week high of $80.09. The company has a market capitalization of $34.06 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 1.58 and a beta of 1.06. The company has a fifty day simple moving average of $75.47 and a 200 day simple moving average of $72.58.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.14. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The firm had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same period in the prior year, the firm earned $1.01 EPS. The business’s revenue was down 1.7% on a year-over-year basis. As a group, equities analysts anticipate that Cognizant Technology Solutions will post 4.6 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, February 16th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a yield of 1.75%. Cognizant Technology Solutions’s dividend payout ratio is currently 28.57%.

Insider Buying and Selling

In other news, EVP Kathryn Diaz sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total transaction of $69,354.00. Following the completion of the sale, the executive vice president now owns 8,312 shares in the company, valued at approximately $640,522.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. IFG Advisory LLC raised its position in Cognizant Technology Solutions by 45.1% during the 4th quarter. IFG Advisory LLC now owns 67,119 shares of the information technology service provider’s stock worth $5,070,000 after buying an additional 20,874 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in Cognizant Technology Solutions by 36.0% in the third quarter. Qube Research & Technologies Ltd now owns 1,227,411 shares of the information technology service provider’s stock valued at $83,145,000 after purchasing an additional 324,638 shares during the period. PGGM Investments boosted its holdings in Cognizant Technology Solutions by 53.8% in the 3rd quarter. PGGM Investments now owns 74,411 shares of the information technology service provider’s stock valued at $5,041,000 after purchasing an additional 26,035 shares in the last quarter. National Bank of Canada FI increased its position in Cognizant Technology Solutions by 69.3% during the 3rd quarter. National Bank of Canada FI now owns 4,368,034 shares of the information technology service provider’s stock worth $295,978,000 after purchasing an additional 1,788,329 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Cognizant Technology Solutions by 110.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,344,587 shares of the information technology service provider’s stock worth $91,082,000 after buying an additional 704,932 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CTSH shares. Jefferies Financial Group raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and boosted their target price for the company from $70.00 to $85.00 in a research report on Thursday, January 11th. Citigroup boosted their price target on shares of Cognizant Technology Solutions from $76.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Societe Generale reissued a “sell” rating and issued a $67.00 price objective on shares of Cognizant Technology Solutions in a research note on Friday, January 5th. Wedbush increased their price objective on Cognizant Technology Solutions from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, December 26th. Finally, Royal Bank of Canada lifted their target price on Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a report on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $75.65.

Cognizant Technology Solutions Company Profile

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.