Cognizant Technology Solutions Corp Stock Price Could Go Down After Today’s Bearish Options Activity

 Cognizant Technology Solutions Corp Stock Price Could Go Down After Today's Bearish Options Activity

In today’s session Cognizant Technology Solutions Corp (CTSH) recorded an unusually high (1,848) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious CTSH decrease. With 1,848 contracts traded and 27634 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: CTSH161118P00047500 closed last at: $0.15 or 72.7% down. About 8.44 million shares traded hands or 16.09% up from the average. Cognizant Technology Solutions Corp (NASDAQ:CTSH) has declined 8.50% since April 7, 2016 and is downtrending. It has underperformed by 13.28% the S&P500.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) Ratings Coverage

Out of 19 analysts covering Cognizant Technology Solutions Corp. (NASDAQ:CTSH), 13 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 68% are positive. $82 is the highest target while $52 is the lowest. The $67.54 average target is 30.89% above today’s ($51.6) stock price. Cognizant Technology Solutions Corp. has been the topic of 33 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating by Goldman Sachs given on Thursday, September 15. Wedbush initiated the stock with “Neutral” rating in Friday, September 9 report. Societe Generale initiated the stock with “Buy” rating in Monday, September 26 report. The company was maintained on Monday, October 10 by Jefferies. The firm has “Sell” rating by Zacks given on Monday, August 10. On Friday, February 19 the stock rating was initiated by Cowen & Co with “Outperform”. Citigroup maintained Cognizant Technology Solutions Corp (NASDAQ:CTSH) on Wednesday, July 20 with “Buy” rating. The stock of Cognizant Technology Solutions Corp (NASDAQ:CTSH) earned “Neutral” rating by Citigroup on Friday, September 30. Cantor Fitzgerald initiated the stock with “Buy” rating in Friday, October 16 report. The firm has “Outperform” rating given on Thursday, August 6 by BMO Capital Markets.

According to Zacks Investment Research, “Cognizant Technology Solutions delivers high-quality, cost-effective, full life cycle solutions to complex software development and maintenance problems that companies face as they transition to e-business. These services are delivered through the use of a seamless on-site and offshore consulting project team. The company’s solutions include application development and integration, application management, re-engineering, and mass change services.”

Insitutional Activity: The institutional sentiment increased to 0.97 in 2016 Q2. Its up 0.12, from 0.85 in 2016Q1. The ratio increased, 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.
Moreover, Odey Asset Grp Limited has 0.27% invested in Cognizant Technology Solutions Corp (NASDAQ:CTSH) for 53,668 shares. Sentry Invs accumulated 226,000 shares or 0.12% of the stock. Piedmont Invest Advsr Lc holds 0% or 137,142 shares in its portfolio. Harvest holds 0.11% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH) for 4,140 shares. Guardian Capital Lp has invested 0.09% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH). Roundview Cap Limited Liability holds 0.26% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH) for 12,348 shares. Psagot Invest House Ltd has 0.16% invested in the company for 64,650 shares. Lloyds Gp Public Limited Company holds 2.07% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH) for 4,420 shares. Ladenburg Thalmann Inc last reported 10,802 shares in the company. Cleararc Inc has 0.16% invested in the company for 14,698 shares. The Connecticut-based General Elec Company has invested 0.34% in Cognizant Technology Solutions Corp (NASDAQ:CTSH). Macquarie Group Inc last reported 0.01% of its portfolio in the stock. Alpha Windward Limited Liability Com holds 0.01% or 256 shares in its portfolio. Eastern State Bank last reported 6,500 shares in the company. Cortland Associate Mo has invested 9.49% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH).

Insider Transactions: Since May 10, 2016, the stock had 0 insider buys, and 14 selling transactions for $38.10 million net activity. Schwartz Steven also sold $31,944 worth of Cognizant Technology Solutions Corp (NASDAQ:CTSH) on Tuesday, June 7. Frank Malcolm sold $73,007 worth of stock or 1,248 shares. $1.20 million worth of Cognizant Technology Solutions Corp (NASDAQ:CTSH) shares were sold by McLoughlin Karen. Shares for $1.38 million were sold by COBURN GORDON on Friday, June 3. KLEIN JOHN E sold $3.75 million worth of Cognizant Technology Solutions Corp (NASDAQ:CTSH) on Monday, May 16. $11.54M worth of Cognizant Technology Solutions Corp (NASDAQ:CTSH) was sold by DSOUZA FRANCISCO on Thursday, July 28. $1.00 million worth of Cognizant Technology Solutions Corp (NASDAQ:CTSH) was sold by RAMAKRISHNAN CHANDRASEKARAN.

Cognizant Technology Solutions Corporation is a well-known provider of information technology , consulting and business process services. The company has a market cap of $31.39 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 20.18 P/E ratio.

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 important recent Cognizant Technology Solutions Corp (NASDAQ:CTSH) news were published by: Nasdaq.com which released: “Earnings Reaction History: Cognizant Technology Solutions Corporation, 20.0 …” on November 26, 2013, also Businesswire.com published article titled: “SHAREHOLDER ALERT: Class Action Lawsuit Against Cognizant Technology Solutions …”, Fool.com published: “Why Cognizant Technology Solutions Stock Dropped 16.9% in September” on October 11, 2016. More interesting news about Cognizant Technology Solutions Corp (NASDAQ:CTSH) was released by: Prnewswire.com and their article: “INVESTOR LOSS NOTICE: Rosen Law Firm Reminds Cognizant Technology Solutions …” with publication date: October 11, 2016.

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