Yousif Capital Management LLC Boosts Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Yousif Capital Management LLC increased its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,494 shares of the information technology service provider's stock after purchasing an additional 7,624 shares during the quarter. Yousif Capital Management LLC's holdings in Cognizant Technology Solutions were worth $6,158,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CTSH. Brighton Jones LLC acquired a new stake in Cognizant Technology Solutions in the fourth quarter valued at $214,000. Apollon Wealth Management LLC lifted its holdings in Cognizant Technology Solutions by 13.4% in the fourth quarter. Apollon Wealth Management LLC now owns 13,617 shares of the information technology service provider's stock valued at $1,047,000 after acquiring an additional 1,610 shares during the period. Kestra Private Wealth Services LLC acquired a new stake in Cognizant Technology Solutions in the fourth quarter valued at $907,000. Portfolio Design Labs LLC acquired a new stake in Cognizant Technology Solutions in the fourth quarter valued at $232,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Cognizant Technology Solutions by 11.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 275,450 shares of the information technology service provider's stock valued at $21,047,000 after acquiring an additional 27,315 shares during the period. Institutional investors and hedge funds own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH traded down $1.51 during mid-day trading on Friday, reaching $78.95. The company's stock had a trading volume of 2,469,134 shares, compared to its average volume of 3,558,605. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $90.82. The stock has a market cap of $38.92 billion, a P/E ratio of 17.51, a PEG ratio of 2.11 and a beta of 0.98. The business has a 50-day simple moving average of $76.62 and a two-hundred day simple moving average of $79.04. 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 - Get Free Report) last announced its earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.03. The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.06 billion. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 earnings per share. As a group, equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Monday, May 19th. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 26.11%.

Cognizant Technology Solutions announced that its Board of Directors has approved a share repurchase program on Tuesday, March 25th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the information technology service provider to purchase up to 5.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CTSH has been the subject of several research reports. JPMorgan Chase & Co. raised Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $88.00 to $98.00 in a research note on Monday, May 19th. UBS Group cut their price target on Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Guggenheim reaffirmed a "neutral" rating on shares of Cognizant Technology Solutions in a research note on Wednesday, April 23rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday, May 1st. Finally, TD Securities boosted their target price on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $85.00.

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.