Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by Level Four Advisory Services LLC

Posted by Defense World Staff on Sep 23rd, 2023

Level Four Advisory Services LLC raised its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 3.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 21,974 shares of the information technology service provider’s stock after purchasing an additional 801 shares during the period. Level Four Advisory Services LLC’s holdings in Cognizant Technology Solutions were worth $1,434,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. AE Wealth Management LLC boosted its stake in shares of Cognizant Technology Solutions by 113.0% during the second quarter. AE Wealth Management LLC now owns 67,030 shares of the information technology service provider’s stock valued at $4,376,000 after acquiring an additional 35,566 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Cognizant Technology Solutions by 33.6% during the second quarter. SG Americas Securities LLC now owns 61,116 shares of the information technology service provider’s stock valued at $3,990,000 after acquiring an additional 15,368 shares during the last quarter. DNB Asset Management AS boosted its stake in shares of Cognizant Technology Solutions by 1.5% during the second quarter. DNB Asset Management AS now owns 114,825 shares of the information technology service provider’s stock valued at $7,496,000 after acquiring an additional 1,691 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in shares of Cognizant Technology Solutions by 87.0% during the second quarter. Harvest Fund Management Co. Ltd now owns 2,493 shares of the information technology service provider’s stock valued at $163,000 after acquiring an additional 1,160 shares during the last quarter. Finally, DnB Asset Management AS boosted its stake in shares of Cognizant Technology Solutions by 1.5% during the second quarter. DnB Asset Management AS now owns 114,825 shares of the information technology service provider’s stock valued at $7,496,000 after acquiring an additional 1,691 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CTSH. Citigroup increased their price objective on Cognizant Technology Solutions from $65.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, August 3rd. StockNews.com began coverage on Cognizant Technology Solutions in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Barclays increased their target price on Cognizant Technology Solutions from $53.00 to $61.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 25th. BMO Capital Markets increased their target price on Cognizant Technology Solutions from $70.00 to $78.00 and gave the stock a “market perform” rating in a research report on Thursday, August 3rd. Finally, JPMorgan Chase & Co. upgraded Cognizant Technology Solutions from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $72.00 to $77.00 in a research report on Tuesday, August 22nd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus price target of $68.75.

Check Out Our Latest Analysis on CTSH

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock opened at $69.61 on Friday. The stock’s 50-day moving average is $69.57 and its 200-day moving average is $64.55. The company has a market cap of $35.16 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 1.80 and a beta of 1.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.27 and a quick ratio of 2.27. Cognizant Technology Solutions Co. has a 12 month low of $51.33 and a 12 month high of $72.71.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The information technology service provider reported $1.10 EPS for the quarter, beating the consensus estimate of $0.97 by $0.13. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.84 billion. Cognizant Technology Solutions had a return on equity of 18.00% and a net margin of 11.31%. The company’s revenue was down .4% on a year-over-year basis. During the same period last year, the business posted $1.14 EPS. Equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.41 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Investors of record on Monday, August 21st were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $1.16 annualized dividend and a dividend yield of 1.67%. Cognizant Technology Solutions’s payout ratio is currently 27.04%.

About Cognizant Technology Solutions

(Free Report)

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.