Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating ) saw a significant uptick in short interest in June. As of June 15th, there was short interest totaling 5,140,000 shares, up 27.2% from May 31st’s total of 4,040,000 shares. Based on an average trading volume of 3,060,000 shares, the days to cover ratio is currently 1.7 days. Currently, 1.0% of the company’s shares are sold short.
A number of analysts recently issued reports on the stock. Cowen reduced their target price on shares of Cognizant Technology Solutions from $98.00 to $95.00 in a research note on Monday, May 9th. Citigroup cut their target price on shares of Cognizant Technology Solutions from $95.00 to $88.00 in a research report on Thursday, May 5th. StockNews.com lowered shares of Cognizant Technology Solutions from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 11th. Finally, Cowen reduced their target price on Cognizant Technology Solutions from $98.00 to $95.00 in a report on Monday, May 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.77.
NASDAQ:CTSH opened at $68.03 on Monday. The firm has a market cap of $35.46 billion, a P/E ratio of 16.31, a P/E/G ratio of 1.37 and a beta of 1.10. The business has a 50-day simple moving average of $73.07 and a 200-day simple moving average of $82.44. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.22, and a quick ratio of 2.22. Cognizant Technology Solutions has a 12-month low of $65.24 and a 12-month high of $93.47.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last posted its earnings results on Wednesday, May 4th. The information technology services provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Cognizant Technology Solutions had a return on equity of 19.07% and a net margin of 11.59%. The company had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same period last year, the business posted $0.97 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. research analysts expect that Cognizant Technology Solutions will post 4.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Shareholders of record on Friday, May 20th were given a $0.27 dividend. This represents a $1.08 annual dividend and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, May 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 25.90%.
In other Cognizant Technology Solutions news, Director Michael Patsalos-Fox sold 5,687 shares of the company’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $74.40, for a total value of $423,112.80. Following the completion of the transaction, the director now directly owns 57,534 shares of the company’s stock, valued at approximately $4,280,529.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Andrew J. Stafford sold 5,867 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $77.24, for a total value of $453,167.08. Following the sale, the executive vice president now directly owns 5,872 shares in the company, valued at $453,553.28. Disclosure of this sale can be found here. 0.34% of shares are owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CTSH. Bank of America Corp DE boosted its stake in shares of Cognizant Technology Solutions by 4.0% during the first quarter. Bank of America Corp DE now owns 3,579,409 shares of the information technology services provider’s stock valued at $320,964,000 after buying an additional 138,140 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Cognizant Technology Solutions by 24.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 439,887 shares of the information technology services provider’s stock valued at $39,445,000 after purchasing an additional 86,176 shares during the last quarter. M Holdings Securities Inc. acquired a new position in Cognizant Technology Solutions during the first quarter worth about $371,000. Advisory Services Network LLC raised its position in shares of Cognizant Technology Solutions by 23.0% during the first quarter. Advisory Services Network LLC now owns 8,016 shares of the information technology services provider’s stock valued at $719,000 after purchasing an additional 1,499 shares during the last quarter. Finally, Toroso Investments LLC raised its stake in shares of Cognizant Technology Solutions by 12.7% in the first quarter. Toroso Investments LLC now owns 12,480 shares of the information technology services provider’s stock valued at $1,119,000 after acquiring an additional 1,408 shares during the period. 90.73% of the shares are currently owned by institutional investors.
Company Profile of Cognizant Technology Solutions (Get Rating)
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology services and outsourcing services in North America, Europe and internationally. It operates in four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.
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