Cognizant Technology Solutions Co. (NASDAQ:CTSH) Short Interest Up 11.6% in November

Cognizant Technology Solutions Co. (NASDAQ:CTSH) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 17,960,000 shares, a growth of 11.6% from the November 15th total of 16,090,000 shares. Based on an average daily trading volume, of 3,160,000 shares, the short-interest ratio is currently 5.7 days. Currently, 3.6% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CTSH. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $76.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft lifted their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.47.

Cognizant Technology Solutions Trading Up 0.8 %

Shares of NASDAQ:CTSH opened at $80.70 on Tuesday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $40.01 billion, a PE ratio of 17.85, a P/E/G ratio of 2.24 and a beta of 1.06. Cognizant Technology Solutions has a 1 year low of $63.79 and a 1 year high of $82.41. The firm has a fifty day moving average price of $78.34 and a 200 day moving average price of $74.74.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the company posted $1.16 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts expect that Cognizant Technology Solutions will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.49%. Cognizant Technology Solutions’s dividend payout ratio is 26.55%.

Insider Activity

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 value of $400,550.00. Following the sale, the chief accounting officer now directly 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 document filed with the SEC, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Cognizant Technology Solutions

Hedge funds have recently bought and sold shares of the stock. Pinnacle Bancorp Inc. lifted its position in Cognizant Technology Solutions by 47.4% in the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 146 shares during the period. Benjamin Edwards Inc. raised its stake in shares of Cognizant Technology Solutions by 42.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after buying an additional 158 shares in the last quarter. Addison Advisors LLC lifted its holdings in shares of Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after acquiring an additional 189 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Cognizant Technology Solutions by 32.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 786 shares of the information technology service provider’s stock valued at $61,000 after acquiring an additional 193 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its stake in Cognizant Technology Solutions by 1.8% in the third quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock valued at $862,000 after acquiring an additional 194 shares during the period. 92.44% of the stock is owned by institutional investors.

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.