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

Cognizant Technology Solutions Co. (NASDAQ:CTSH) was the target of some unusual options trading on Friday. Investors bought 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.

Wall Street Analysts Forecast Growth

CTSH has been the subject of several research 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 research report on Thursday, February 6th. Barclays boosted their price objective 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 upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Finally, UBS Group increased their target price on Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. 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.com, Cognizant Technology Solutions has an average rating of “Hold” and an average price target of $83.67.

Cognizant Technology Solutions Stock Down 1.9 %

NASDAQ:CTSH traded down $1.60 on Friday, hitting $81.97. 1,397,697 shares of the company’s stock traded hands, compared to its average volume of 3,518,136. The firm has a 50-day moving average price of $81.89 and a 200-day moving average price of $79.19. Cognizant Technology Solutions has a 1 year low of $63.79 and a 1 year high of $90.82. The company has a market cap of $40.54 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06.

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

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio is 27.49%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Addison Advisors LLC grew its position in shares of Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after buying an additional 189 shares during the period. Duncker Streett & Co. Inc. acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at about $28,000. Ashton Thomas Securities LLC bought a new position in Cognizant Technology Solutions during the third quarter worth about $30,000. Trust Co. of Vermont raised its position in shares of Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after acquiring an additional 292 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of Cognizant Technology Solutions during the fourth quarter worth $36,000. Institutional investors own 92.44% of the company’s stock.

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.