Cognizant Technology Solutions Co. (NASDAQ:CTSH) Sees Large Growth in Short Interest

Cognizant Technology Solutions Co. (NASDAQ:CTSH - Get Free Report) was the target of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 17,960,000 shares, an increase of 11.6% from the November 15th total of 16,090,000 shares. Approximately 3.6% of the company's shares are sold short. Based on an average daily volume of 3,160,000 shares, the short-interest ratio is presently 5.7 days.

Analysts Set New Price Targets

CTSH has been the subject of several research analyst reports. Daiwa America raised Cognizant Technology Solutions to a "hold" rating in a research note on Tuesday, August 27th. Robert W. Baird increased their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft raised their price target on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. Finally, TD Cowen raised their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a "hold" rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Cognizant Technology Solutions has a consensus rating of "Hold" and a consensus price target of $79.47.

Insider Activity

In related news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the sale, the chief accounting officer now directly owns 39,022 shares of the company's stock, valued at approximately $3,126,052.42. This represents a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Institutional Trading of Cognizant Technology Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Retirement Systems of Alabama grew its holdings in shares of Cognizant Technology Solutions by 3.5% during the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider's stock worth $91,678,000 after purchasing an additional 40,226 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $155,000. World Investment Advisors LLC grew its holdings in shares of Cognizant Technology Solutions by 21.8% during the 3rd quarter. World Investment Advisors LLC now owns 5,634 shares of the information technology service provider's stock worth $435,000 after purchasing an additional 1,010 shares in the last quarter. Tudor Financial Inc. acquired a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $225,000. Finally, Unigestion Holding SA grew its holdings in shares of Cognizant Technology Solutions by 148.6% during the 3rd quarter. Unigestion Holding SA now owns 10,256 shares of the information technology service provider's stock worth $792,000 after purchasing an additional 6,131 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Down 0.4 %

Shares of NASDAQ CTSH traded down $0.31 during mid-day trading on Friday, reaching $80.06. 2,698,680 shares of the company traded hands, compared to its average volume of 3,752,314. The stock has a market cap of $39.70 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 2.24 and a beta of 1.06. The company's fifty day moving average is $78.25 and its two-hundred day moving average is $74.63. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. Cognizant Technology Solutions has a fifty-two week low of $63.79 and a fifty-two week high of $82.41.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) 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 analysts' consensus estimates of $1.15 by $0.10. The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company's revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 EPS. On average, analysts expect that Cognizant Technology Solutions will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 26.55%.

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.