Cognizant Technology Solutions Corp. (NASDAQ:CTSH) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 12,853,145 shares, a growth of 65.0% from the October 31st total of 7,787,986 shares. Currently, 2.1% of the company’s stock are short sold. Based on an average trading volume of 8,596,750 shares, the days-to-cover ratio is presently 1.5 days.

A number of research analysts have commented on CTSH shares. Morgan Stanley restated an “overweight” rating and issued a $61.00 price objective (down from $66.00) on shares of Cognizant Technology Solutions Corp. in a research note on Sunday, October 9th. Needham & Company LLC restated a “buy” rating and issued a $68.00 price objective on shares of Cognizant Technology Solutions Corp. in a research note on Sunday, October 2nd. Jefferies Group dropped their price objective on shares of Cognizant Technology Solutions Corp. from $70.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, October 10th. Vetr lowered shares of Cognizant Technology Solutions Corp. from a “strong-buy” rating to a “buy” rating and set a $60.28 price objective on the stock. in a research note on Monday, November 7th. Finally, Zacks Investment Research lowered shares of Cognizant Technology Solutions Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Cognizant Technology Solutions Corp. currently has a consensus rating of “Buy” and a consensus target price of $64.99.

In related news, CFO Karen Mcloughlin sold 10,000 shares of Cognizant Technology Solutions Corp. stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $51.27, for a total transaction of $512,700.00. Following the sale, the chief financial officer now directly owns 52,614 shares in the company, valued at approximately $2,697,519.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Malcolm Frank sold 1,248 shares of Cognizant Technology Solutions Corp. stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $58.50, for a total transaction of $73,008.00. Following the sale, the vice president now owns 3,945 shares in the company, valued at $230,782.50. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Washington Trust Bank boosted its position in shares of Cognizant Technology Solutions Corp. by 6.8% in the second quarter. Washington Trust Bank now owns 1,789 shares of the information technology service provider’s stock valued at $102,000 after buying an additional 114 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Cognizant Technology Solutions Corp. during the second quarter valued at approximately $123,000. Exane Derivatives boosted its position in shares of Cognizant Technology Solutions Corp. by 22.3% in the second quarter. Exane Derivatives now owns 2,278 shares of the information technology service provider’s stock valued at $130,000 after buying an additional 416 shares during the last quarter. First Manhattan Co. boosted its position in shares of Cognizant Technology Solutions Corp. by 16.8% in the second quarter. First Manhattan Co. now owns 2,523 shares of the information technology service provider’s stock valued at $144,000 after buying an additional 363 shares during the last quarter. Finally, Assetmark Inc. boosted its position in shares of Cognizant Technology Solutions Corp. by 29.4% in the second quarter. Assetmark Inc. now owns 2,699 shares of the information technology service provider’s stock valued at $154,000 after buying an additional 613 shares during the last quarter. Institutional investors own 85.29% of the company’s stock.

Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) opened at 53.25 on Friday. The stock has a market capitalization of $32.31 billion, a P/E ratio of 20.80 and a beta of 1.34. The firm’s 50-day moving average is $52.14 and its 200 day moving average is $56.53. Cognizant Technology Solutions Corp. has a 1-year low of $45.44 and a 1-year high of $65.25.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last posted its quarterly earnings data on Monday, November 7th. The information technology service provider reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.02. Cognizant Technology Solutions Corp. had a net margin of 11.78% and a return on equity of 19.42%. The company earned $3.45 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter last year, the firm posted $0.76 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts expect that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current fiscal year.

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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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