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

Cognizant Technology Solutions Co. (NASDAQ:CTSH) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 15,490,000 shares, an increase of 13.0% from the October 15th total of 13,710,000 shares. Based on an average trading volume of 3,000,000 shares, the days-to-cover ratio is currently 5.2 days. Approximately 3.1% of the shares of the company are sold short.

Cognizant Technology Solutions Stock Up 0.5 %

NASDAQ CTSH traded up $0.36 during trading hours on Monday, reaching $77.47. 674,665 shares of the company’s stock traded hands, compared to its average volume of 3,812,224. Cognizant Technology Solutions has a 52-week low of $63.79 and a 52-week high of $82.41. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. The firm has a 50-day simple moving average of $76.85 and a 200 day simple moving average of $72.93. The firm has a market cap of $38.41 billion, a PE ratio of 17.06, a PEG ratio of 2.13 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.10. The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the business earned $1.16 earnings per share. Sell-side analysts anticipate that Cognizant Technology Solutions will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.55%. Cognizant Technology Solutions’s dividend payout ratio is currently 26.55%.

Institutional Trading of Cognizant Technology Solutions

Institutional investors have recently added to or reduced their stakes in the business. Avantax Advisory Services Inc. increased its holdings in Cognizant Technology Solutions by 5.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 5,702 shares of the information technology service provider’s stock worth $418,000 after acquiring an additional 302 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Cognizant Technology Solutions by 5.3% in the 1st quarter. Bleakley Financial Group LLC now owns 6,514 shares of the information technology service provider’s stock worth $477,000 after buying an additional 329 shares during the period. Blair William & Co. IL increased its stake in Cognizant Technology Solutions by 2.5% in the 1st quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock worth $1,231,000 after buying an additional 412 shares in the last quarter. Vanguard Group Inc. raised its holdings in Cognizant Technology Solutions by 13.6% during the first quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock valued at $4,254,178,000 after acquiring an additional 6,933,908 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new stake in Cognizant Technology Solutions during the 1st quarter valued at approximately $563,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CTSH. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. Robert W. Baird boosted their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group began coverage on Cognizant Technology Solutions in a report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $79.47.

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.