Short Interest Coverage: Could Cognizant Tech Solutions Class A (NASDAQ:CTSH) See a Reversal After More Sellers Came In?

November 30, 2016 - By Louis Casey   ·   0 Comments

Short Interest Coverage: Could Cognizant Tech Solutions Class A (NASDAQ:CTSH) See a Reversal After More Sellers Came In?

The stock of Cognizant Tech Solutions Class A (NASDAQ:CTSH) registered an increase of 29.38% in short interest. CTSH’s total short interest was 7.79 million shares in November as published by FINRA. Its up 29.38% from 6.02M shares, reported previously. With 4.78 million shares average volume, it will take short sellers 2 days to cover their CTSH’s short positions. The short interest to Cognizant Tech Solutions Class A’s float is 1.29%. About 1.91M shares traded hands. Cognizant Technology Solutions Corp (NASDAQ:CTSH) has declined 8.17% since April 27, 2016 and is downtrending. It has underperformed by 13.40% the S&P500.

Cognizant Technology Solutions Corporation is a well-known provider of information technology , consulting and business process services. The company has a market cap of $32.69 billion. The Firm operates through four divisions: Financial Services, which includes clients 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 clients providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology. It has a 21.57 P/E ratio.

Insitutional Activity: The institutional sentiment decreased to 0.93 in Q2 2016. Its down 0.04, from 0.97 in 2016Q1. The ratio worsened, as 65 funds sold all Cognizant Technology Solutions Corp shares owned while 291 reduced positions. 67 funds bought stakes while 278 increased positions. They now own 506.90 million shares or 5.36% less from 535.62 million shares in 2016Q1.
Samlyn Cap Ltd Liability Com holds 327,900 shares or 0.45% of its portfolio. Tci Wealth Advsrs holds 1,317 shares or 0.04% of its portfolio. Wealthtrust reported 445 shares or 0.02% of all its holdings. Chase Counsel last reported 75,064 shares in the company. The Nebraska-based Ameritas Inv Partners has invested 0.08% in Cognizant Technology Solutions Corp (NASDAQ:CTSH). Intrust Bancorp Na last reported 13,250 shares in the company. Savings Bank Pictet Cie (Asia) Ltd holds 0.74% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH) for 20,180 shares. Kcg Inc has 0.12% invested in the company for 98,361 shares. Moreover, Wfg Advsr Lp has 0% invested in Cognizant Technology Solutions Corp (NASDAQ:CTSH) for 295 shares. Hirtle Callaghan & Commerce Ltd Company last reported 0.01% of its portfolio in the stock. Ccm Inv Advisers Limited Liability Com holds 329,489 shares or 1.76% of its portfolio. The Virginia-based Burney Communication has invested 0.09% in Cognizant Technology Solutions Corp (NASDAQ:CTSH). Brinker Cap Incorporated owns 21,928 shares or 0.11% of their US portfolio. Glenmede Trust Na last reported 0.18% of its portfolio in the stock. Eagle Ridge Invest has invested 1.37% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH).

Insider Transactions: Since June 3, 2016, the stock had 0 insider buys, and 9 sales for $31.02 million net activity. $512,737 worth of Cognizant Technology Solutions Corp (NASDAQ:CTSH) shares were sold by McLoughlin Karen. Frank Malcolm sold 1,248 shares worth $73,007. Another trade for 300,000 shares valued at $17.49M was made by DSOUZA FRANCISCO on Monday, July 25. Another trade for 527 shares valued at $31,944 was sold by Schwartz Steven. COBURN GORDON sold $1.38M worth of Cognizant Technology Solutions Corp (NASDAQ:CTSH) on Friday, June 3.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) Ratings Coverage

Out of 21 analysts covering Cognizant Technology Solutions Corp. (NASDAQ:CTSH), 13 rate it a “Buy”, 2 “Sell”, while 6 “Hold”. This means 62% are positive. Cognizant Technology Solutions Corp. has been the topic of 35 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The rating was downgraded by Bank of America to “Underperform” on Tuesday, November 22. The stock of Cognizant Technology Solutions Corp (NASDAQ:CTSH) has “Hold” rating given on Friday, September 30 by Argus Research. The stock has “Buy” rating given by Suntrust Robinson on Thursday, September 10. Citigroup maintained Cognizant Technology Solutions Corp (NASDAQ:CTSH) rating on Wednesday, July 20. Citigroup has “Buy” rating and $68 price target. As per Thursday, September 10, the company rating was initiated by SunTrust. The firm has “Buy” rating given on Friday, October 16 by Cantor Fitzgerald. Argus Research maintained the stock with “Buy” rating in Tuesday, August 11 report. The stock of Cognizant Technology Solutions Corp (NASDAQ:CTSH) earned “Buy” rating by Societe Generale on Monday, September 26. The firm earned “Underperform” rating on Wednesday, September 14 by CLSA. The stock of Cognizant Technology Solutions Corp (NASDAQ:CTSH) earned “Sell” rating by Zacks on Monday, August 10.

CTSH Company Profile

Cognizant Technology Solutions Corporation, incorporated on April 6, 1988, is a well-known provider of information technology (IT), consulting and business process services. The Firm operates through four divisions: Financial Services, which includes clients 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 clients providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology. The Company’s competencies include business, process, activities and IT consulting, application development and systems integration, enterprise information management, application testing, application maintenance and IT infrastructure services.

More news for Cognizant Technology Solutions Corp (NASDAQ:CTSH) were recently published by: Reuters.com, which released: “BRIEF-Elliott management sends letter to Cognizant Technology Solutions Co…” on November 28, 2016. Prnewswire.com‘s article titled: “SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered …” and published on November 22, 2016 is yet another important article.

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By Louis Casey

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