Cognizant Technology Solutions Co. (NASDAQ:CTSH) Short Interest Up 26.5% in March

Cognizant Technology Solutions Co. (NASDAQ:CTSH - Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 13,320,000 shares, a growth of 26.5% from the March 15th total of 10,530,000 shares. Approximately 2.7% of the company's shares are short sold. Based on an average trading volume of 4,520,000 shares, the short-interest ratio is presently 2.9 days.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH traded down $0.84 on Monday, hitting $68.42. 2,953,751 shares of the company were exchanged, compared to its average volume of 4,388,863. The firm has a market capitalization of $34.06 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 1.58 and a beta of 1.06. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions has a 1-year low of $58.09 and a 1-year high of $80.09. The stock's 50 day moving average price is $75.47 and its 200 day moving average price is $72.58.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $0.14. The company had revenue of $4.76 billion during the quarter, compared to analysts' expectations of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The firm's revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 EPS. Sell-side analysts predict that Cognizant Technology Solutions will post 4.6 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.75%. The ex-dividend date was Friday, February 16th. This is an increase from Cognizant Technology Solutions's previous quarterly dividend of $0.29. Cognizant Technology Solutions's dividend payout ratio is 28.57%.

Insiders Place Their Bets

In other news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total transaction of $69,354.00. Following the completion of the sale, the executive vice president now owns 8,312 shares of the company's stock, valued at $640,522.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.27% of the company's stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of institutional investors have recently bought and sold shares of CTSH. D.A. Davidson & CO. purchased a new position in shares of Cognizant Technology Solutions during the first quarter worth $256,000. Canada Pension Plan Investment Board raised its stake in shares of Cognizant Technology Solutions by 84.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 269,207 shares of the information technology service provider's stock valued at $24,140,000 after buying an additional 123,220 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Cognizant Technology Solutions by 9.4% in the 1st quarter. Cetera Investment Advisers now owns 17,774 shares of the information technology service provider's stock valued at $1,594,000 after buying an additional 1,523 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions in the first quarter worth about $239,000. Finally, Brighton Jones LLC grew its holdings in Cognizant Technology Solutions by 18.7% during the first quarter. Brighton Jones LLC now owns 3,484 shares of the information technology service provider's stock worth $312,000 after acquiring an additional 550 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTSH has been the subject of several recent research reports. Guggenheim started coverage on Cognizant Technology Solutions in a report on Tuesday, March 19th. They issued a "neutral" rating and a $80.00 price objective for the company. BMO Capital Markets lowered their price target on shares of Cognizant Technology Solutions from $88.00 to $85.00 and set a "market perform" rating for the company in a research report on Wednesday, February 7th. Societe Generale reissued a "sell" rating and set a $67.00 price objective on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Jefferies Financial Group upgraded Cognizant Technology Solutions from a "hold" rating to a "buy" rating and upped their target price for the stock from $70.00 to $85.00 in a report on Thursday, January 11th. Finally, Susquehanna reaffirmed a "neutral" rating and set a $80.00 target price (down previously from $87.00) on shares of Cognizant Technology Solutions in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of "Hold" and an average price target of $75.65.

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.