Fifth Third Bancorp reduced its stake in Cognizant Technology Solutions Co. (NASDAQ: CTSH – Get a rating) by 1.6% during the first quarter, according to the most recent information released by the Securities and Exchange Commission (SEC). The firm owned 101,513 shares of the information technology services provider’s stock after selling 1,633 shares during the period. Fifth Third Bancorp’s holdings in Cognizant Technology Solutions were worth $9,103,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. MV Capital Management Inc. raised its stake in shares of Cognizant Technology Solutions by 94.8% during the fourth quarter. Now MV Capital Management Inc. now owns 302 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 147 shares in the last quarter. Cornerstone Advisory LLC bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at $27,000. Fieldpoint Private Securities LLC raised its stake in shares of Cognizant Technology Solutions by 475.4% during the fourth quarter. Fieldpoint Private Securities LLC now owns 397 shares of the information technology services provider’s stock worth $35,000 after buying an additional 328 shares in the last quarter. AdvisorNet Financial Inc grew its stake in shares of Cognizant Technology Solutions by 44.4% during the first quarter. AdvisorNet Financial Inc now owns 478 shares of the information technology services provider’s stock worth $43,000 after buying an additional 147 shares in the last quarter. Finally, CVA Family Office LLC raised its stake in shares of Cognizant Technology Solutions by 1,410.3% during the fourth quarter. CVA Family Office LLC now owns 589 shares of the information technology services provider’s stock worth $52,000 after buying an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 90.73% of the company’s shares.
NASDAQ: CTSH opened at $68.03 on Friday. Cognizant Technology Solutions Co . has a 1 year low of $65.24 and a 1 year high of $93.47. The company’s 50-day moving average is $73.07, and its 200-day moving average is $82.46. The company has a current ratio of 2.22, a gearing ratio of 2.22, and a debt-to-equity ratio of 0.05. The firm has a market cap of $35.46 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 1.42 and a beta of 1.10.
Cognizant Technology Solutions (NASDAQ: CTSH – Get a rating) last published its earnings results on Wednesday, May 4th. The information technology services provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.04. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.83 billion. Cognizant Technology Solutions had a return on equity of 19.07% and a net margin of 11.59%. The company’s quarterly revenue increased by 9.7% compared to the same period last year. Earnings per share were $0.97 in the same quarter last year. Analysts predict that Cognizant Technology Solutions Co. will post 4.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 31st. Shareholders of record on Friday, May 20th were given a dividend of $0.27 per share. This amounts to $1.08 in annualized dividends and a dividend yield of 1.59%. The ex-dividend date for this dividend was Thursday, May 19th. Cognizant Technology Solutions’s dividend payout ratio is currently 25.90%.
Several analysts recently commented on CTSH shares. Cowen cut their price objective on Cognizant Technology Solutions from $98.00 to $95.00 in a report on Monday, May 9th. Citigroup cut their price target on Cognizant Technology Solutions from $95.00 to $88.00 in a research note on Thursday, May 5th. StockNews.com lowered Cognizant Technology Solutions from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 11th. Finally, Cowen cut their price objective on Cognizant Technology Solutions from $98.00 to $95.00 in a research note on Monday, May 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Cognizant Technology Solutions has an average rating of “Moderate Buy” and a consensus price target of $92.77, according to MarketBeat.
In related news, executive vice president Andrew J. Stafford sold 5,867 shares of the stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $77.24, for a total transaction amounting to $453,167.08. Following the completion of the transaction, the executive vice president now directly owns 5,872 shares in the company, valued at $453,553.28. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. Also the director Michael Potsalos-Fox sold 5,687 shares of the stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $74.40 for a total value of $423,112.80. Following the transaction, the director now owns 57,534 shares in the company, valued at $4,280,529.60. Disclosures for this sale can be found here here. Company insiders own 0.34% of the company’s stock.
Cognizant Technology Solutions Company Profile (Get a rating)
Cognizant Technology Solutions Corporation, a professional company that provides consulting and technology services, as well as outsourcing services in North America, Europe and abroad. It operates through four segments: Financial Services; Health care; Products and resources; and communications, media and technology.
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https://www.defenseworld.net/2022/07/02/fifth-third-bancorp-sells-1633-shares-of-cognizant-technology-solutions-co-nasdaqctsh.html Fifth Third Bancorp sells 1,633 shares of Cognizant Technology Solutions Co. (NASDAQ: CTSH )