Cognizant Technology Solutions Co. (NASDAQ:CTSH) Short Interest Down 13.3% in January

Cognizant Technology Solutions Co. (NASDAQ:CTSH - Get Free Report) saw a large drop in short interest in January. As of January 31st, there was short interest totalling 16,310,000 shares, a drop of 13.3% from the January 15th total of 18,810,000 shares. Based on an average daily trading volume, of 3,080,000 shares, the days-to-cover ratio is currently 5.3 days. Approximately 3.3% of the company's shares are sold short.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH traded down $0.89 on Thursday, hitting $87.54. 2,911,172 shares of the company's stock traded hands, compared to its average volume of 3,245,802. 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 1-year low of $63.79 and a 1-year high of $90.82. The firm's 50-day moving average price is $80.87 and its two-hundred day moving average price is $78.42. The firm has a market capitalization of $43.40 billion, a PE ratio of 19.41, a P/E/G ratio of 2.14 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 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 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th will be paid a $0.31 dividend. This is a boost from Cognizant Technology Solutions's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Tuesday, February 18th. Cognizant Technology Solutions's payout ratio is currently 27.49%.

Insider Activity at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the completion of the sale, the chief accounting officer now owns 39,022 shares in the company, valued at $3,126,052.42. This trade represents a 11.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cognizant Technology Solutions

Several large investors have recently made changes to their positions in CTSH. Exchange Traded Concepts LLC acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at $161,000. Creative Planning raised its position in Cognizant Technology Solutions by 8.6% during the third quarter. Creative Planning now owns 44,423 shares of the information technology service provider's stock worth $3,429,000 after acquiring an additional 3,518 shares during the period. Bleakley Financial Group LLC raised its position in Cognizant Technology Solutions by 3.8% during the third quarter. Bleakley Financial Group LLC now owns 5,972 shares of the information technology service provider's stock worth $461,000 after acquiring an additional 220 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Cognizant Technology Solutions by 0.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,502 shares of the information technology service provider's stock worth $4,284,000 after acquiring an additional 298 shares during the period. Finally, V Square Quantitative Management LLC raised its position in Cognizant Technology Solutions by 1.8% during the third quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider's stock worth $862,000 after acquiring an additional 194 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on CTSH shares. UBS Group raised their target price on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Mizuho raised their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. Robert W. Baird raised their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Morgan Stanley raised their target price on shares of Cognizant Technology Solutions from $80.00 to $85.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Finally, Barclays raised their target price on shares of 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 MarketBeat, Cognizant Technology Solutions presently has a consensus rating of "Hold" and a consensus target price of $83.67.

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.