Short Interest in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Drops By 13.3%

Cognizant Technology Solutions Co. (NASDAQ:CTSH) saw a significant decline in short interest during the month of 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 trading volume of 3,080,000 shares, the days-to-cover ratio is presently 5.3 days. Currently, 3.3% of the shares of the stock are sold short.

Insider Transactions at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction on 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 transaction, the chief accounting officer now directly owns 39,022 shares in the company, valued at approximately $3,126,052.42. This represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Addison Advisors LLC raised its position in Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $28,000. Ashton Thomas Securities LLC acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at $30,000. Trust Co. of Vermont grew its holdings in shares of Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after buying an additional 292 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in Cognizant Technology Solutions in the 4th quarter worth $36,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Trading Down 2.1 %

Shares of NASDAQ:CTSH opened at $88.82 on Tuesday. The company has a market cap of $44.04 billion, a P/E ratio of 20.23, a P/E/G ratio of 2.32 and a beta of 1.07. The stock’s 50-day moving average is $80.55 and its 200-day moving average is $78.24. Cognizant Technology Solutions has a 52-week low of $63.79 and a 52-week high of $91.25. 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 (NASDAQ:CTSH) last released its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates 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 predict that Cognizant Technology Solutions will post 4.99 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.40%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, February 18th. Cognizant Technology Solutions’s payout ratio is presently 26.61%.

Analysts Set New Price Targets

CTSH has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. TD Cowen increased their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, October 31st. 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. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Finally, 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 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.