Cognizant Technology Solutions Corp. (NASDAQ:CTSH) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 7,787,986 shares, an increase of 29.4% from the October 14th total of 6,019,555 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 4,781,800 shares, the short-interest ratio is currently 1.6 days.

Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) opened at 53.81 on Friday. The company’s 50 day moving average price is $51.65 and its 200-day moving average price is $56.91. The stock has a market capitalization of $32.66 billion, a PE ratio of 21.70 and a beta of 1.34. Cognizant Technology Solutions Corp. has a 52 week low of $45.44 and a 52 week high of $67.18.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last issued its earnings results on Monday, November 7th. The information technology service provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. Cognizant Technology Solutions Corp. had a return on equity of 19.42% and a net margin of 11.78%. The company had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period in the prior year, the firm posted $0.76 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. Equities research analysts predict that Cognizant Technology Solutions Corp. will post $3.38 EPS for the current year.

In related news, VP Malcolm Frank sold 1,248 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $58.50, for a total value of $73,008.00. Following the transaction, the vice president now directly owns 3,945 shares of the company’s stock, valued at approximately $230,782.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Karen Mcloughlin sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $51.27, for a total value of $512,700.00. Following the completion of the transaction, the chief financial officer now directly owns 52,614 shares in the company, valued at $2,697,519.78. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. EULAV Asset Management raised its position in shares of Cognizant Technology Solutions Corp. by 30.2% in the third quarter. EULAV Asset Management now owns 125,000 shares of the information technology service provider’s stock valued at $5,964,000 after buying an additional 29,000 shares during the last quarter. KCG Holdings Inc. raised its position in shares of Cognizant Technology Solutions Corp. by 7.7% in the third quarter. KCG Holdings Inc. now owns 105,909 shares of the information technology service provider’s stock worth $5,053,000 after buying an additional 7,548 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Cognizant Technology Solutions Corp. by 9.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 235,892 shares of the information technology service provider’s stock worth $11,255,000 after buying an additional 19,594 shares in the last quarter. Wimmer Associates 1 LLC raised its position in shares of Cognizant Technology Solutions Corp. by 6.3% in the third quarter. Wimmer Associates 1 LLC now owns 18,161 shares of the information technology service provider’s stock worth $866,000 after buying an additional 1,070 shares in the last quarter. Finally, Profund Advisors LLC raised its position in shares of Cognizant Technology Solutions Corp. by 22.1% in the third quarter. Profund Advisors LLC now owns 48,791 shares of the information technology service provider’s stock worth $2,328,000 after buying an additional 8,824 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors.

A number of research analysts recently commented on CTSH shares. Cantor Fitzgerald set a $68.00 price target on Cognizant Technology Solutions Corp. and gave the stock a “buy” rating in a report on Friday, August 5th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $62.00 price target on shares of Cognizant Technology Solutions Corp. in a report on Wednesday, August 3rd. Jefferies Group reissued a “buy” rating and issued a $70.00 price target on shares of Cognizant Technology Solutions Corp. in a report on Monday, July 25th. Citigroup Inc. lowered their price target on Cognizant Technology Solutions Corp. from $71.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, July 20th. Finally, Needham & Company LLC lowered their price target on Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, August 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company. Cognizant Technology Solutions Corp. has a consensus rating of “Buy” and an average target price of $64.93.

Cognizant Technology Solutions Corp. Company Profile

Cognizant Technology Solutions Corporation is a provider of information technology (IT), consulting and business process services. The Company operates through four segments: Financial Services, which includes customers providing banking/transaction processing, capital markets and insurance services; Healthcare, which includes healthcare providers and payers, as well as life sciences customers, including pharmaceutical, biotech and medical device companies; Manufacturing, Retail and Logistics, which includes manufacturers, retailers, travel and other hospitality customers, as well as customers providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology.

5 Day Chart for NASDAQ:CTSH

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