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

Fifth Third Wealth Advisors LLC grew its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,757 shares of the information technology service provider’s stock after purchasing an additional 210 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Cognizant Technology Solutions were worth $517,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CTSH. Unison Advisors LLC lifted its stake in shares of Cognizant Technology Solutions by 0.4% during the fourth quarter. Unison Advisors LLC now owns 29,595 shares of the information technology service provider’s stock valued at $2,276,000 after buying an additional 114 shares during the period. Congress Wealth Management LLC DE lifted its stake in shares of Cognizant Technology Solutions by 0.5% during the fourth quarter. Congress Wealth Management LLC DE now owns 24,965 shares of the information technology service provider’s stock valued at $1,920,000 after buying an additional 126 shares during the period. CoreCap Advisors LLC lifted its stake in shares of Cognizant Technology Solutions by 21.5% during the fourth quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider’s stock valued at $55,000 after buying an additional 126 shares during the period. Sound View Wealth Advisors Group LLC lifted its stake in shares of Cognizant Technology Solutions by 4.6% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 2,884 shares of the information technology service provider’s stock valued at $222,000 after buying an additional 127 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of Cognizant Technology Solutions by 1.5% during the fourth quarter. Parallel Advisors LLC now owns 9,153 shares of the information technology service provider’s stock valued at $704,000 after buying an additional 134 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Down 0.9%

NASDAQ CTSH opened at $80.27 on Tuesday. The firm has a market capitalization of $39.57 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 2.11 and a beta of 0.93. The company has a 50-day simple moving average of $75.37 and a 200-day simple moving average of $78.97. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $90.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the firm posted $1.12 EPS. Cognizant Technology Solutions’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities analysts forecast that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions announced that its board has approved a share repurchase program on Tuesday, March 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology service provider to purchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.54%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 26.11%.

Analyst Ratings Changes

A number of research firms have weighed in on CTSH. TD Securities increased their price target on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $93.00 target price on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. Robert W. Baird raised 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. Guggenheim reaffirmed a “neutral” rating on shares of Cognizant Technology Solutions in a report on Wednesday, April 23rd. Finally, Barclays decreased their price objective on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, April 25th. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, 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.