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

Cognizant Technology Solutions Co. (NASDAQ:CTSH) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 18,970,000 shares, an increase 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 days-to-cover ratio is presently 5.5 days. Approximately 3.9% of the company’s shares are sold short.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $79.58 on Wednesday. The business has a 50 day moving average price of $82.54 and a 200 day moving average price of $79.46. The stock has a market cap of $39.36 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions has a fifty-two week low of $63.79 and a fifty-two 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.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted 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%. Equities research analysts anticipate that Cognizant Technology Solutions will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed 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 was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.56%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s payout ratio is currently 27.49%.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTSH. Unison Advisors LLC grew its holdings in Cognizant Technology Solutions by 0.4% in the fourth quarter. Unison Advisors LLC now owns 29,595 shares of the information technology service provider’s stock valued at $2,276,000 after purchasing an additional 114 shares during the last quarter. Congress Wealth Management LLC DE boosted its stake in shares of Cognizant Technology Solutions by 0.5% during the fourth quarter. Congress Wealth Management LLC DE now owns 24,965 shares of the information technology service provider’s stock valued at $1,920,000 after acquiring an additional 126 shares during the last quarter. CoreCap Advisors LLC boosted its stake in shares of Cognizant Technology Solutions by 21.5% during the fourth quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider’s stock valued at $55,000 after acquiring an additional 126 shares during the last quarter. Sound View Wealth Advisors Group LLC boosted its stake in shares of Cognizant Technology Solutions by 4.6% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 2,884 shares of the information technology service provider’s stock valued at $222,000 after acquiring an additional 127 shares during the last quarter. Finally, Graypoint LLC boosted its stake in shares of Cognizant Technology Solutions by 2.9% during the fourth quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider’s stock valued at $369,000 after acquiring an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CTSH. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Barclays lifted 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. BMO Capital Markets lifted 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. Morgan Stanley dropped their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus price target of $83.50.

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.