Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC cut its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,820 shares of the information technology service provider’s stock after selling 4,051 shares during the quarter. Yousif Capital Management LLC’s holdings in Cognizant Technology Solutions were worth $5,953,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC acquired a new position in Cognizant Technology Solutions in the 4th quarter valued at about $26,000. NBC Securities Inc. acquired a new position in Cognizant Technology Solutions in the 3rd quarter valued at about $27,000. Valley National Advisers Inc. lifted its holdings in shares of Cognizant Technology Solutions by 43.2% in the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock worth $44,000 after acquiring an additional 178 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $52,000. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Cognizant Technology Solutions by 26.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock worth $52,000 after acquiring an additional 162 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CTSH. Royal Bank of Canada upped their target price on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 7th. Mizuho started coverage on shares of Cognizant Technology Solutions in a report on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 target price for the company. Susquehanna reiterated a “neutral” rating and set a $80.00 price target (down previously from $87.00) on shares of Cognizant Technology Solutions in a research note on Monday, April 1st. Societe Generale restated a “sell” rating and issued a $67.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, January 5th. Finally, Guggenheim assumed coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 target price for the company. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average target price of $76.44.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, EVP Kathryn Diaz sold 900 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total transaction of $69,354.00. Following the completion of the transaction, the executive vice president now owns 8,312 shares of the company’s stock, valued at $640,522.72. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.27% of the stock is owned by insiders.

Cognizant Technology Solutions Stock Down 1.1 %

Shares of NASDAQ:CTSH opened at $66.76 on Friday. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $73.72 and a 200 day simple moving average of $72.51. The firm has a market cap of $33.24 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.54 and a beta of 1.06. Cognizant Technology Solutions Co. has a 12-month low of $58.09 and a 12-month high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.14. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The business had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The business’s revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.59 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were paid a dividend of $0.30 per share. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 16th. This represents a $1.20 annualized dividend and a yield of 1.80%. Cognizant Technology Solutions’s payout ratio is presently 28.57%.

Cognizant Technology Solutions 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.