Cognizant Technology Solutions Co. (NASDAQ:CTSH) Position Increased by Yousif Capital Management LLC

Yousif Capital Management LLC lifted its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 10.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,494 shares of the information technology service provider’s stock after acquiring an additional 7,624 shares during the period. 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 large investors have also made changes to their positions in CTSH. Duncker Streett & Co. Inc. acquired a new position in Cognizant Technology Solutions in the 4th quarter worth approximately $28,000. Park Square Financial Group LLC purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at $36,000. SBI Securities Co. Ltd. acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth $36,000. Morton Brown Family Wealth LLC purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at $37,000. Finally, Asset Planning Inc acquired a new position in Cognizant Technology Solutions during the fourth quarter valued at $46,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $80.65 on Thursday. The stock has a market capitalization of $39.76 billion, a P/E ratio of 17.88, a P/E/G ratio of 2.11 and a beta of 0.98. The business has a 50-day moving average of $76.10 and a two-hundred day moving average of $79.07. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $90.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. The firm had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same period in the previous year, the company earned $1.12 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions declared that its board has authorized a share buyback program on Tuesday, March 25th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the information technology service provider to buy up to 5.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.24 dividend on an annualized basis and a yield of 1.54%. Cognizant Technology Solutions’s payout ratio is presently 26.11%.

Analyst Ratings Changes

Several equities analysts have weighed in on CTSH shares. Susquehanna raised Cognizant Technology Solutions from a “neutral” rating to a “positive” rating and lifted their target price for the company from $77.00 to $90.00 in a research note on Thursday, May 1st. Morgan Stanley decreased their price target on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. TD Securities upped their price objective 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. JPMorgan Chase & Co. upgraded shares of Cognizant Technology Solutions from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $88.00 to $98.00 in a research report on Monday, May 19th. Finally, Robert W. Baird lifted their target price on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. Fourteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $85.00.

About Cognizant Technology Solutions

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.