Cognizant Technology Solutions Corp (CTSH) Short Interest Down 16.7% in July

Cognizant Technology Solutions Corp (NASDAQ:CTSH) saw a large decrease in short interest in July. As of July 31st, there was short interest totalling 9,747,723 shares, a decrease of 16.7% from the July 13th total of 11,698,656 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average daily trading volume, of 2,530,965 shares, the days-to-cover ratio is currently 3.9 days.

CTSH has been the topic of a number of research reports. BidaskClub upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Friday, July 13th. Pivotal Research reiterated a “buy” rating and set a $91.00 target price on shares of Cognizant Technology Solutions in a report on Monday, May 7th. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a report on Tuesday, May 1st. Credit Suisse Group set a $95.00 target price on shares of Cognizant Technology Solutions and gave the stock a “buy” rating in a report on Tuesday, May 8th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $85.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $86.41.

Shares of CTSH opened at $75.56 on Friday. Cognizant Technology Solutions has a twelve month low of $69.24 and a twelve month high of $85.10. The firm has a market capitalization of $45.25 billion, a PE ratio of 21.41, a PEG ratio of 1.42 and a beta of 0.94. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Thursday, August 2nd. The information technology service provider reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.09. Cognizant Technology Solutions had a net margin of 9.37% and a return on equity of 21.66%. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period last year, the business earned $0.93 EPS. The company’s revenue was up 9.2% on a year-over-year basis. equities analysts expect that Cognizant Technology Solutions will post 4.18 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 31st. Investors of record on Wednesday, August 22nd will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, August 21st. This represents a $0.80 annualized dividend and a yield of 1.06%. Cognizant Technology Solutions’s dividend payout ratio is currently 22.66%.

In other Cognizant Technology Solutions news, SVP Robert Telesmanic sold 17,986 shares of the stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $77.62, for a total transaction of $1,396,073.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Karen Mcloughlin sold 4,983 shares of the stock in a transaction that occurred on Thursday, July 12th. The stock was sold at an average price of $82.04, for a total transaction of $408,805.32. Following the sale, the chief financial officer now owns 43,887 shares in the company, valued at $3,600,489.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,381 shares of company stock worth $4,110,946. 0.60% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in CTSH. Global X Management Co. LLC raised its stake in Cognizant Technology Solutions by 15.3% during the 1st quarter. Global X Management Co. LLC now owns 11,211 shares of the information technology service provider’s stock worth $902,000 after acquiring an additional 1,490 shares in the last quarter. HL Financial Services LLC raised its stake in Cognizant Technology Solutions by 5.1% during the 1st quarter. HL Financial Services LLC now owns 78,130 shares of the information technology service provider’s stock worth $6,289,000 after acquiring an additional 3,818 shares in the last quarter. FDx Advisors Inc. raised its stake in Cognizant Technology Solutions by 12.8% during the 1st quarter. FDx Advisors Inc. now owns 10,534 shares of the information technology service provider’s stock worth $848,000 after acquiring an additional 1,196 shares in the last quarter. Groesbeck Investment Management Corp NJ raised its stake in Cognizant Technology Solutions by 109.4% during the 1st quarter. Groesbeck Investment Management Corp NJ now owns 37,610 shares of the information technology service provider’s stock worth $3,028,000 after acquiring an additional 19,650 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in Cognizant Technology Solutions by 1.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 114,034 shares of the information technology service provider’s stock worth $9,180,000 after acquiring an additional 1,141 shares in the last quarter. Hedge funds and other institutional investors own 87.70% of the company’s stock.

Cognizant Technology Solutions Corp is a computer and technology company in the IT Consulting & Other Services industry.

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