Fifth Third Wealth Advisors LLC Purchases 341 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Fifth Third Wealth Advisors LLC boosted its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,547 shares of the information technology service provider’s stock after buying an additional 341 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Cognizant Technology Solutions were worth $503,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Addison Advisors LLC raised its stake 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 valued at $26,000 after acquiring an additional 189 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Cognizant Technology Solutions in the third quarter worth about $30,000. Pinnacle Bancorp Inc. increased its holdings in Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after purchasing an additional 146 shares during the period. Benjamin Edwards Inc. raised its position in Cognizant Technology Solutions by 42.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 158 shares during the last quarter. Finally, Eastern Bank purchased a new stake in Cognizant Technology Solutions in the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

CTSH opened at $77.43 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. The firm has a market cap of $38.39 billion, a PE ratio of 17.13, a P/E/G ratio of 1.96 and a beta of 1.07. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $82.46. The stock has a 50-day moving average price of $79.06 and a 200-day moving average price of $76.38.

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

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.55%. Cognizant Technology Solutions’s payout ratio is 26.55%.

Analyst Upgrades and Downgrades

CTSH has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Barclays raised shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $80.00 to $95.00 in a research report on Tuesday, December 17th. Robert W. Baird lifted their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. TD Cowen increased their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Fifteen analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $81.19.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the transaction, the chief accounting officer now owns 39,022 shares in the company, valued at $3,126,052.42. This trade represents a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Cognizant Technology Solutions Company 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.