Fifth Third Bancorp Grows Stock Position in Cognizant Technology Solutions Corporation $CTSH

Fifth Third Bancorp increased its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 421.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 179,982 shares of the information technology service provider’s stock after acquiring an additional 145,475 shares during the quarter. Fifth Third Bancorp’s holdings in Cognizant Technology Solutions were worth $11,042,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTSH. Candriam S.C.A. raised its stake in shares of Cognizant Technology Solutions by 4.1% during the 1st quarter. Candriam S.C.A. now owns 37,951 shares of the information technology service provider’s stock valued at $2,328,000 after purchasing an additional 1,501 shares during the period. Walled Lake Planning & Wealth Management LLC increased its holdings in shares of Cognizant Technology Solutions by 2.1% in the 1st quarter. Walled Lake Planning & Wealth Management LLC now owns 56,943 shares of the information technology service provider’s stock worth $3,493,000 after buying an additional 1,193 shares during the last quarter. Hsbc Holdings PLC raised its position in Cognizant Technology Solutions by 27.2% during the first quarter. Hsbc Holdings PLC now owns 3,471,681 shares of the information technology service provider’s stock valued at $213,004,000 after purchasing an additional 742,466 shares in the last quarter. Resona Asset Management Co. Ltd. raised its holdings in shares of Cognizant Technology Solutions by 4.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 193,725 shares of the information technology service provider’s stock valued at $11,877,000 after buying an additional 7,891 shares in the last quarter. Finally, Cairn Investment Group Inc. raised its stake in shares of Cognizant Technology Solutions by 1.2% during the first quarter. Cairn Investment Group Inc. now owns 57,845 shares of the information technology service provider’s stock worth $3,549,000 after acquiring an additional 710 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $43.03 on Wednesday. The business has a fifty day moving average of $47.91 and a 200 day moving average of $61.74. The firm has a market capitalization of $20.39 billion, a P/E ratio of 9.35, a PEG ratio of 0.93 and a beta of 0.87. Cognizant Technology Solutions Corporation has a one year low of $37.08 and a one year high of $87.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.23 and a quick ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, April 29th. The information technology service provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.07. Cognizant Technology Solutions had a net margin of 10.41% and a return on equity of 17.50%. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.41 billion. During the same quarter in the prior year, the business earned $1.23 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. As a group, sell-side analysts anticipate that Cognizant Technology Solutions Corporation will post 5.7 EPS for the current year.

Cognizant Technology Solutions declared that its Board of Directors has approved a stock buyback plan on Monday, May 18th 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 9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th were given a $0.33 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.32 dividend on an annualized basis and a yield of 3.1%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CTSH shares. Nomura lowered their target price on Cognizant Technology Solutions from $93.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Wedbush raised shares of Cognizant Technology Solutions from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $56.00 to $70.00 in a research report on Monday, June 8th. The Goldman Sachs Group set a $75.00 price target on Cognizant Technology Solutions in a research report on Wednesday, April 29th. TD Cowen dropped their price objective on shares of Cognizant Technology Solutions from $62.00 to $47.00 and set a “hold” rating on the stock in a research note on Friday, June 26th. Finally, Wells Fargo & Company cut their target price on Cognizant Technology Solutions from $83.00 to $61.00 and set an “overweight” rating on the stock in a research note on Friday, July 10th. Eleven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus target price of $64.26.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions (NASDAQ: CTSH) is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.

Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.