Cognizant Technology Solutions Co. (NASDAQ:CTSH) Sees Significant Increase in Short Interest

Cognizant Technology Solutions Co. (NASDAQ:CTSH) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 18,970,000 shares, a growth of 26.1% from the February 13th total of 15,040,000 shares. Currently, 3.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,420,000 shares, the short-interest ratio is currently 5.5 days.

Institutional Trading of Cognizant Technology Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System raised its holdings in Cognizant Technology Solutions by 0.8% in the 4th quarter. California State Teachers Retirement System now owns 840,827 shares of the information technology service provider’s stock valued at $64,660,000 after buying an additional 6,554 shares during the period. 111 Capital purchased a new stake in Cognizant Technology Solutions in the 4th quarter valued at about $1,011,000. Wealth Enhancement Advisory Services LLC raised its holdings in Cognizant Technology Solutions by 257.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 164,857 shares of the information technology service provider’s stock valued at $12,678,000 after buying an additional 118,723 shares during the period. NorthCrest Asset Manangement LLC raised its holdings in Cognizant Technology Solutions by 3.5% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 103,765 shares of the information technology service provider’s stock valued at $7,980,000 after buying an additional 3,484 shares during the period. Finally, Siemens Fonds Invest GmbH raised its holdings in Cognizant Technology Solutions by 37.0% in the 4th quarter. Siemens Fonds Invest GmbH now owns 22,886 shares of the information technology service provider’s stock valued at $1,760,000 after buying an additional 6,184 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTSH has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. UBS Group decreased their target price on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday. Royal Bank of Canada increased their target price on Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. BMO Capital Markets increased their target price on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research report on Thursday, February 6th. Finally, Barclays increased their target price on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus target price of $83.50.

Cognizant Technology Solutions Stock Down 0.5 %

NASDAQ CTSH opened at $79.58 on Wednesday. Cognizant Technology Solutions has a 52 week low of $63.79 and a 52 week high of $90.82. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The business’s fifty day simple moving average is $82.54 and its 200-day simple moving average is $79.46. The firm has a market cap of $39.36 billion, a PE ratio of 17.65, a P/E/G ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. As a group, equities analysts anticipate that Cognizant Technology Solutions will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Tuesday, February 18th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s payout ratio is currently 27.49%.

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.