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

Cognizant Technology Solutions Co. (NASDAQ:CTSH) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 16,310,000 shares, a decline of 13.3% from the January 15th total of 18,810,000 shares. Based on an average daily volume of 3,080,000 shares, the short-interest ratio is presently 5.3 days. Approximately 3.3% of the shares of the company are sold short.

Cognizant Technology Solutions Stock Up 1.3 %

Shares of Cognizant Technology Solutions stock traded up $1.12 during midday trading on Friday, reaching $90.70. 4,369,973 shares of the company’s stock traded hands, compared to its average volume of 2,990,005. The company has a market cap of $44.97 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 2.32 and a beta of 1.07. The company’s 50 day simple moving average is $80.35 and its 200 day simple moving average is $78.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.23 and a current ratio of 2.09. Cognizant Technology Solutions has a 52 week low of $63.79 and a 52 week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. Equities analysts expect that Cognizant Technology Solutions will post 4.99 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.31 per share. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.37%. Cognizant Technology Solutions’s payout ratio is presently 27.49%.

Analysts Set New Price Targets

Several brokerages have recently commented on CTSH. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft increased their price target on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. UBS Group increased their price target on Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Robert W. Baird upped their price objective 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. Finally, Barclays increased their price target on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Sixteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average price target of $83.67.

Insider Transactions at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of the business’s 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 transaction, the chief accounting officer now owns 39,022 shares in the company, valued at $3,126,052.42. The trade was a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Unison Advisors LLC increased its holdings in shares of Cognizant Technology Solutions by 0.4% during the 4th quarter. Unison Advisors LLC now owns 29,595 shares of the information technology service provider’s stock worth $2,276,000 after purchasing an additional 114 shares during the period. Congress Wealth Management LLC DE boosted its position in shares of Cognizant Technology Solutions by 0.5% during the 4th 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 in the last quarter. Sound View Wealth Advisors Group LLC boosted its position in shares of Cognizant Technology Solutions by 4.6% during the 4th 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 in the last quarter. Graypoint LLC boosted its position in shares of Cognizant Technology Solutions by 2.9% during the 4th 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 in the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Cognizant Technology Solutions by 1.5% during the 4th quarter. Parallel Advisors LLC now owns 9,153 shares of the information technology service provider’s stock valued at $704,000 after acquiring an additional 134 shares in the last quarter. Institutional investors 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.