Cognizant Technology Solutions Co. (NASDAQ: CTSH – Get Rating) saw a big drop in interest in short customers in May. As of May 15, there was a short interest of a total of 4,010,000 shares, a decrease of 26.0% from a total of 5,420,000 shares on April 30. Based on an average trading volume of 3,200,000 shares, the ratio of days to coverage is currently 1.3 days. Currently, 0.8% of the company’s shares have been sold short.
Shares of CTSH traded up $ 1.99 during lunchtime trading on Monday, reaching $ 74.73. 59,030 shares of the company’s stock are traded hands, compared to its average volume of 3,163,554. The company has a market capitalization of $ 38.95 billion, a price / earnings ratio of $ 17.92, a PEG ratio of $ 1.38 and a beta of 1.10. The company has a fast ratio of 2.22, a current ratio of 2.22 and a debt to equity ratio of 0.05. The company has a 50-day simple moving average of $ 82.21 and a two-day simple moving average of $ 84.35. Cognizant Technology Solutions has a 1-year low of $ 66.19 and a 1-year high of $ 93.47.
Cognizant Technology Solutions (NASDAQ: CTSH – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The IT provider reported EPS of $ 1.08 for the quarter, beating analysts’ consensus estimates of $ 1.04 by $ 0.04. The company had revenue of $ 4.83 billion for the quarter, compared to analysts’ estimates of $ 4.83 billion. Cognizant Technology Solutions has a return on equity of 19.07% and a net profit of 11.59%. Quarterly business revenues increased by 9.7% compared to the same quarter last year. In the same period last year, the company earned $ 0.97 EPS. Stock analysts predict that Cognizant Technology Solutions will report 4.51 EPS for the current year.
The business also recently announced a quarterly dividend to be paid on Tuesday (May 31st). The record shareholders on Friday, May 20, will receive a dividend of $ 0.27. The date of the former dividend is Thursday, May 19. This represents a $ 1.08 annual dividend and a dividend yield of 1.45%. Cognizant Technology Solutions’ dividend payout ratio is currently 25.90%.
In related news, EVP Andrew J. Stafford sold 5,867 shares of the shares in a deal made on Tuesday, May 10. The shares were sold at an average price of $ 77.24, for a total transaction of $ 453,167.08. Following the sale, the executive vice president now owns 5,872 shares of the company worth approximately $ 453,553.28. The sale was revealed in SEC documentation, which is available on the SEC website. Also, director Michael Patzalos-Fox sold 5,687 shares of shares in a deal made on Tuesday, May 17. The shares were sold at an average price of $ 74.40, for a total value of $ 423,112.80. Following the sale, the director now owns 57,534 shares of the company’s stock worth approximately $ 4,280,529.60. The revelation for this sale can be found here. In the last quarter, insiders sold 16,332 shares of the company’s stock worth $ 1,299,228. 0.34% of the shares are currently owned by corporate insiders.
Large investors have recently bought and sold shares in the company. Cornerstone Advisory LLC bought a new position in shares of Cognizant Technology Solutions in the 4th quarter worth $ 27,000. Hardy Reed LLC bought a new position in Cognizant Technology Solutions in the first quarter worth about $ 27,000. MV Capital Management Inc. increased its stake in Cognizant Technology Solutions by 94.8% in the fourth quarter. Now MV Capital Management Inc. owns 302 shares of the IT provider worth $ 27,000 after acquiring an additional 147 shares in the last quarter. GeoWealth Management LLC bought a new position in Cognizant Technology Solutions in the third quarter worth about $ 26,000. Finally, Fieldpoint Private Securities LLC increased its stake in Cognizant Technology Solutions by 475.4% in the fourth quarter. Fieldpoint Private Securities LLC already owns 397 shares of the IT provider worth $ 35,000 after acquiring an additional 328 shares in the last quarter. Institutional investors and hedge funds own 90.73% of the company’s shares.
A number of analysts commented on the company. Zacks Investment Research raised Cognizant Technology Solutions from a “sell” rating to a “hold” rating and set a price of $ 79.00 for the company in a research report Monday, May 9th. StockNews.com downgraded Cognizant Technology Solutions from a “strong buy” rating to a “buy” rating in a research report on Wednesday, May 11th. Barclays raised its price target for Cognizant Technology Solutions from $ 78.00 to $ 85.00 and gave the stock a “under weight” rating in a research report Monday, Feb. 7. Cowen lowered his price target for Cognizant Technology Solutions from $ 98.00 to $ 95.00 in a research report Monday, May 9th. Finally, Cowen lowered its price target for Cognizant Technology Solutions from $ 98.00 to $ 95.00 in a research report on Monday, May 9th. One analyst rated the shares with a sell rating, five gave a hold rating and ten gave the company a buy rating. Based on data from MarketBeat, the shares have an average rating of “Buy” and an average target price of $ 91.69.
Company Profile Cognizant Technology Solutions (Get an estimate)
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology and outsourcing services in North America, Europe and internationally. Works in four segments: Financial services; Healthcare; Products and resources; and communications, media and technology.
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