Yousif Capital Management LLC Has $5.16 Million Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Posted by Defense World Staff on Mar 19th, 2023

Yousif Capital Management LLC grew its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,190 shares of the information technology service provider’s stock after purchasing an additional 2,812 shares during the period. Yousif Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $5,158,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CTSH. D.A. Davidson & CO. acquired a new stake in shares of Cognizant Technology Solutions during the 1st quarter valued at about $256,000. Canada Pension Plan Investment Board boosted its position in shares of Cognizant Technology Solutions by 84.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 269,207 shares of the information technology service provider’s stock valued at $24,140,000 after acquiring an additional 123,220 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Cognizant Technology Solutions by 9.4% during the 1st quarter. Cetera Investment Advisers now owns 17,774 shares of the information technology service provider’s stock valued at $1,594,000 after acquiring an additional 1,523 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Cognizant Technology Solutions during the 1st quarter valued at about $239,000. Finally, Brighton Jones LLC boosted its position in shares of Cognizant Technology Solutions by 18.7% during the 1st quarter. Brighton Jones LLC now owns 3,484 shares of the information technology service provider’s stock valued at $312,000 after acquiring an additional 550 shares in the last quarter. 90.12% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Down 1.0 %

CTSH opened at $57.79 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.17. The company has a market cap of $29.43 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.16 and a beta of 1.10. The firm has a 50 day simple moving average of $63.77 and a 200 day simple moving average of $60.89. Cognizant Technology Solutions Co. has a fifty-two week low of $51.33 and a fifty-two week high of $93.47.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The information technology service provider reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.01. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.78 billion. Cognizant Technology Solutions had a net margin of 11.79% and a return on equity of 18.92%. Cognizant Technology Solutions’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.10 earnings per share. On average, sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.46 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Friday, February 17th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.01%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.27. The ex-dividend date was Thursday, February 16th. Cognizant Technology Solutions’s payout ratio is 26.24%.

Analyst Upgrades and Downgrades

CTSH has been the topic of several recent research reports. Wedbush reiterated an “outperform” rating and set a $75.00 target price on shares of Cognizant Technology Solutions in a research report on Monday, March 13th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cognizant Technology Solutions from $54.00 to $67.00 in a research report on Friday, February 3rd. BMO Capital Markets boosted their price target on shares of Cognizant Technology Solutions from $65.00 to $71.00 and gave the company a “market perform” rating in a research report on Friday, January 13th. TheStreet upgraded shares of Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a research report on Tuesday, January 31st. Finally, Barclays boosted their price target on shares of Cognizant Technology Solutions from $45.00 to $53.00 and gave the company an “underweight” rating in a research report on Monday, February 6th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $69.90.

Cognizant Technology Solutions Profile

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Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services, Healthcare, Products and Resources, and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.