Short Interest in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Expands By 26.1%

Cognizant Technology Solutions Co. (NASDAQ:CTSH) was the recipient of a large growth in short interest in the month of 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. Based on an average trading volume of 3,420,000 shares, the short-interest ratio is currently 5.5 days. Approximately 3.9% of the shares of the company are sold short.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CTSH shares. BMO Capital Markets boosted their price target on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research note on Thursday, February 6th. Morgan Stanley reduced their price target on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. Barclays raised their target price on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Royal Bank of Canada upped their target price on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Finally, UBS Group lowered their price target on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday. Sixteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $83.50.

Cognizant Technology Solutions Stock Up 1.2 %

NASDAQ CTSH traded up $0.92 on Monday, hitting $80.04. 928,859 shares of the stock traded hands, compared to its average volume of 3,734,137. The stock has a 50-day moving average of $82.38 and a 200 day moving average of $79.42. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions has a twelve month low of $63.79 and a twelve month high of $90.82. The company has a market capitalization of $39.59 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12.

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

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.55%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions’s payout ratio is 27.49%.

Institutional Trading of Cognizant Technology Solutions

A number of institutional investors have recently made changes to their positions in CTSH. Duncker Streett & Co. Inc. bought a new position in Cognizant Technology Solutions during the 4th quarter valued at $28,000. Trust Co. of Vermont lifted its holdings in shares of Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after buying an additional 292 shares during the period. SBI Securities Co. Ltd. acquired a new position in Cognizant Technology Solutions during the fourth quarter worth about $36,000. Park Square Financial Group LLC bought a new stake in Cognizant Technology Solutions in the fourth quarter worth about $36,000. Finally, Spire Wealth Management lifted its holdings in Cognizant Technology Solutions by 74.7% in the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock valued at $37,000 after acquiring an additional 204 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

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.