Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC increased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 10.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,206 shares of the information technology service provider’s stock after buying an additional 576 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Cognizant Technology Solutions were worth $479,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Pinnacle Bancorp Inc. grew its stake in Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after buying an additional 146 shares during the period. Benjamin Edwards Inc. raised its holdings in Cognizant Technology Solutions by 42.1% in the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after acquiring an additional 158 shares in the last quarter. Addison Advisors LLC raised its holdings in shares of Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of Cognizant Technology Solutions by 32.5% during the third quarter. Meeder Asset Management Inc. now owns 786 shares of the information technology service provider’s stock worth $61,000 after purchasing an additional 193 shares during the period. Finally, V Square Quantitative Management LLC raised its holdings in shares of Cognizant Technology Solutions by 1.8% during the third quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock worth $862,000 after purchasing an additional 194 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock opened at $77.57 on Thursday. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $82.41. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The business’s 50-day moving average price is $76.88 and its two-hundred day moving average price is $73.11. The stock has a market cap of $38.46 billion, a PE ratio of 17.16, a P/E/G ratio of 2.13 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. The company had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 earnings per share. As a group, analysts expect that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.55%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 26.55%.

Analyst Ratings Changes

CTSH has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $73.00 to $75.00 in a report on Wednesday, August 7th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $76.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Finally, Jefferies Financial Group assumed coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 target price for the company. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus target price of $79.47.

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.