Stock Traders Buy Large Volume of Put Options on Cognizant Technology Solutions (NASDAQ:CTSH)

Cognizant Technology Solutions Co. (NASDAQ:CTSH) saw unusually large options trading activity on Friday. Stock investors acquired 8,014 put options on the company. This is an increase of approximately 235% compared to the average daily volume of 2,393 put options.

Institutional Trading of Cognizant Technology Solutions

Several hedge funds have recently added to or reduced their stakes in CTSH. Addison Advisors LLC raised its position in Cognizant Technology Solutions by 127.7% in the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after acquiring an additional 189 shares during the period. Duncker Streett & Co. Inc. purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter worth about $28,000. Ashton Thomas Securities LLC purchased a new position in shares of Cognizant Technology Solutions in the third quarter worth about $30,000. Trust Co. of Vermont increased its stake in shares of Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 292 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter worth about $36,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 0.4 %

CTSH opened at $83.23 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The company’s 50-day moving average is $81.98 and its 200 day moving average is $79.24. Cognizant Technology Solutions has a fifty-two week low of $63.79 and a fifty-two week high of $90.82. The firm has a market capitalization of $41.17 billion, a P/E ratio of 18.45, a PEG ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. Research analysts expect that Cognizant Technology Solutions will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were given a $0.31 dividend. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 annualized dividend and a yield of 1.49%. Cognizant Technology Solutions’s payout ratio is currently 27.49%.

Analyst Ratings Changes

CTSH has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price target on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. BMO Capital Markets upped their price target on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, February 6th. Barclays upped their price target on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, February 6th. Sixteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average price target of $83.67.

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.