Cognizant Technology Solutions Sees Unusually Large Options Volume (NASDAQ:CTSH)

Cognizant Technology Solutions Co. (NASDAQ:CTSH - Get Free Report) was the recipient of unusually large options trading activity on Friday. Stock investors acquired 8,014 put options on the company. This represents an increase of 235% compared to the average daily volume of 2,393 put options.

Cognizant Technology Solutions Stock Down 1.1 %

Shares of NASDAQ CTSH traded down $0.97 during mid-day trading on Tuesday, reaching $83.03. The company had a trading volume of 275,216 shares, compared to its average volume of 3,685,966. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. Cognizant Technology Solutions has a twelve month low of $63.79 and a twelve month high of $90.82. The stock's 50 day moving average is $82.12 and its 200-day moving average is $79.34. The stock has a market capitalization of $41.07 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share 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 fiscal year.

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Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were paid a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This is a boost from Cognizant Technology Solutions's previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 1.49%. Cognizant Technology Solutions's payout ratio is 27.49%.

Wall Street Analysts Forecast Growth

CTSH has been the topic of several research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Royal Bank of Canada boosted their target price on 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. BMO Capital Markets increased their price target 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. Morgan Stanley boosted their price objective on Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Finally, UBS Group raised their target price on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Sixteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $83.67.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CTSH. Norges Bank bought a new stake in Cognizant Technology Solutions in the fourth quarter worth $527,719,000. National Bank of Canada FI lifted its position in shares of Cognizant Technology Solutions by 54.6% in the fourth quarter. National Bank of Canada FI now owns 5,633,987 shares of the information technology service provider's stock worth $433,254,000 after buying an additional 1,990,515 shares during the last quarter. AE Industrial Partners LP bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth about $113,088,000. Capital Research Global Investors boosted its stake in shares of Cognizant Technology Solutions by 98.9% during the 4th quarter. Capital Research Global Investors now owns 2,742,442 shares of the information technology service provider's stock worth $210,894,000 after acquiring an additional 1,363,570 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Cognizant Technology Solutions by 47.8% during the 4th quarter. Deutsche Bank AG now owns 3,303,355 shares of the information technology service provider's stock valued at $254,028,000 after acquiring an additional 1,068,420 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company's stock.

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.