Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Free Report) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 14,240,000 shares, a growth of 5.2% from the September 15th total of 13,530,000 shares. Approximately 2.9% of the shares of the stock are sold short. Based on an average trading volume of 3,470,000 shares, the days-to-cover ratio is currently 4.1 days.
Cognizant Technology Solutions Price Performance
Cognizant Technology Solutions stock opened at $77.74 on Friday. Cognizant Technology Solutions has a 12-month low of $62.14 and a 12-month high of $80.27. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. The stock has a market cap of $38.65 billion, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. The company has a fifty day simple moving average of $76.32 and a 200-day simple moving average of $71.63.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter last year, the company earned $1.10 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Equities analysts expect that Cognizant Technology Solutions will post 4.62 EPS for the current fiscal year.
Cognizant Technology Solutions Dividend Announcement
Insider Activity at Cognizant Technology Solutions
In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the transaction, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at $3,419,812.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.
Institutional Trading of Cognizant Technology Solutions
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. 1620 Investment Advisors Inc. purchased a new position in Cognizant Technology Solutions during the 2nd quarter worth approximately $25,000. LRI Investments LLC acquired a new position in shares of Cognizant Technology Solutions in the 1st quarter valued at $28,000. Pinnacle Bancorp Inc. raised its position in Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after purchasing an additional 146 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in Cognizant Technology Solutions by 42.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after purchasing an additional 158 shares during the period. Finally, Unique Wealth Strategies LLC purchased a new position in Cognizant Technology Solutions during the 2nd quarter worth $40,000. Institutional investors and hedge funds own 92.44% of the company’s stock.
Wall Street Analyst Weigh In
CTSH has been the topic of several analyst reports. Jefferies Financial Group started coverage on Cognizant Technology Solutions in a report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price target on the stock. Barclays lifted their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada upped their price objective on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 28th. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Finally, Bank of America upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $73.00 to $75.00 in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $77.44.
View Our Latest Stock Report on CTSH
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.
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