Cognizant Technology Solutions Co. (NASDAQ:CTSH) Short Interest Update

Cognizant Technology Solutions Co. (NASDAQ:CTSH) was the recipient of a significant increase in short interest during the month of 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. Approximately 3.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,420,000 shares, the days-to-cover ratio is presently 5.5 days.

Cognizant Technology Solutions Stock Performance

CTSH traded up $0.92 during midday trading on Monday, reaching $80.04. The company’s stock had a trading volume of 928,859 shares, compared to its average volume of 3,734,137. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $82.38 and a 200 day simple moving average of $79.42. The stock has a market cap of $39.59 billion, a P/E ratio of 17.74, a PEG ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions has a twelve month low of $63.79 and a twelve month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. Research analysts expect that Cognizant Technology Solutions will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.31 per share. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 1.55%. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio is currently 27.49%.

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTSH. Duncker Streett & Co. Inc. bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $28,000. Trust Co. of Vermont grew its holdings in Cognizant Technology Solutions by 188.4% during the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 292 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Cognizant Technology Solutions in the fourth quarter worth about $36,000. Park Square Financial Group LLC acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $36,000. Finally, Spire Wealth Management grew its stake in shares of Cognizant Technology Solutions by 74.7% during the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock valued at $37,000 after purchasing an additional 204 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. BMO Capital Markets raised their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research note on Thursday, February 6th. UBS Group reduced their price objective on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday. StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Finally, Barclays upped their target price on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Sixteen investment 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, the company presently has an average rating of “Hold” and a consensus price target of $83.50.

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.