What’s Cognizant Technology Solutions Corp Upside After Today’s Bullish Options Activity?

 What's Cognizant Technology Solutions Corp Upside After Today's Bullish Options Activity?

In today’s session Cognizant Technology Solutions Corp (CTSH) registered an unusually high (10,146) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the April, 2017 call, expecting serious CTSH increase. With 10,146 contracts traded and 209704 open interest for the Apr, 17 contract, it seems this is a quite bullish bet. The option with symbol: CTSH170421C00055000 closed last at: $3.2 or 22% down. The stock decreased 2.48% or $1.32 on November 23, hitting $51.86. About 11.78M shares traded hands or 64.07% up from the average. Cognizant Technology Solutions Corp (NASDAQ:CTSH) has declined 14.20% since April 22, 2016 and is downtrending. It has underperformed by 19.61% the S&P500.

Analysts await Cognizant Technology Solutions Corp (NASDAQ:CTSH) to report earnings on February, 13. They expect $0.77 earnings per share, up 4.05% or $0.03 from last year’s $0.74 per share. CTSH’s profit will be $450.92 million for 16.84 P/E if the $0.77 EPS becomes a reality. After $0.81 actual earnings per share reported by Cognizant Technology Solutions Corp for the previous quarter, Wall Street now forecasts -4.94% negative EPS growth.

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. $82 is the highest target while $48 is the lowest. The $65.85 average target is 26.98% above today’s ($51.86) stock price. Cognizant Technology Solutions Corp. has been the topic of 35 analyst reports since August 6, 2015 according to StockzIntelligence Inc. On Friday, September 30 the stock rating was downgraded by Citigroup to “Neutral”. The rating was initiated by Wedbush with “Neutral” on Friday, September 9. The firm earned “Buy” rating on Tuesday, November 8 by Needham. As per Monday, September 26, the company rating was initiated by Societe Generale. On Thursday, August 6 the stock rating was maintained by BMO Capital Markets with “Outperform”. On Thursday, September 15 the stock rating was downgraded by Goldman Sachs to “Neutral”. The company was initiated on Thursday, September 10 by SunTrust. The stock has “Underperform” rating given by CLSA on Wednesday, September 14. The stock has “Buy” rating given by Monness Crespi & Hardt on Thursday, November 5. Argus Research downgraded Cognizant Technology Solutions Corp (NASDAQ:CTSH) on Friday, September 30 to “Hold” rating.

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 decreased to 0.93 in Q2 2016. Its down 0.04, from 0.97 in 2016Q1. The ratio dived, 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.
Deutsche Commercial Bank Ag holds 0.2% or 5.01 million shares in its portfolio. The Michigan-based Greenleaf has invested 0.17% in Cognizant Technology Solutions Corp (NASDAQ:CTSH). Moreover, Water Island Capital has 0.05% invested in Cognizant Technology Solutions Corp (NASDAQ:CTSH) for 18,700 shares. Renaissance Techs Ltd Limited Liability Company reported 425,252 shares or 0.05% of all its holdings. Boston Prns accumulated 51,768 shares or 0% of the stock. Nuveen Asset Mgmt Limited Liability Co has 0.01% invested in the company for 39,790 shares. Webster National Bank & Trust N A owns 52,105 shares or 0.44% of their US portfolio. Catalyst Capital Limited Liability holds 0.01% or 600 shares in its portfolio. Agf Investments has 519,177 shares for 0.33% of their US portfolio. Trust Of Toledo Na Oh accumulated 64,175 shares or 1.06% of the stock. Cap City Tru Company Fl has 55,319 shares for 1.28% of their US portfolio. Centaur Prtnrs L P has invested 3.77% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH). Bridges Invest Management last reported 0.31% of its portfolio in the stock. Ballentine Ltd Limited Liability Company accumulated 0.02% or 4,626 shares. Hilltop Holdg reported 9,276 shares or 0.17% of all its holdings.

Insider Transactions: Since June 3, 2016, the stock had 0 insider buys, and 12 insider sales for $33.34 million net activity. Shares for $102,148 were sold by McLoughlin Karen on Wednesday, June 8. $73,007 worth of Cognizant Technology Solutions Corp (NASDAQ:CTSH) shares were sold by Frank Malcolm. Schwartz Steven also sold $31,944 worth of Cognizant Technology Solutions Corp (NASDAQ:CTSH) on Tuesday, June 7. $11.54 million worth of Cognizant Technology Solutions Corp (NASDAQ:CTSH) shares were sold by DSOUZA FRANCISCO. 22,881 Cognizant Technology Solutions Corp (NASDAQ:CTSH) shares with value of $1.38M were sold by COBURN GORDON.

Cognizant Technology Solutions Corporation is a well-known provider of information technology , consulting and business process services. The company has a market cap of $30.37 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 20.28 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 news for Cognizant Technology Solutions Corp (NASDAQ:CTSH) were recently published by: Businesswire.com, which released: “SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Shareholders of Cognizant …” on November 18, 2016. Businesswire.com‘s article titled: “SHAREHOLDER ALERT: Law Office of Brodsky & Smith, LLC Files Class Action …” and published on November 18, 2016 is yet another important article.

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