Fifth Third Bancorp Acquires 19,987 Shares of Cognizant Technology Solutions Corporation $CTSH

Key Points

• Fifth Third Bancorp increased its stake in Cognizant Technology Solutions by 118.1%, acquiring nearly 20,000 additional shares, bringing its total holdings to approximately $2.88 million.
• Cognizant reported earnings of $1.31 per share for the last quarter, exceeding expectations, and saw an 8.1% year-over-year revenue increase, totaling $5.25 billion.
• The company also declared a $0.31 quarterly dividend, with an annualized yield of 1.9%, showcasing a payout ratio of 25.20%.

Fifth Third Bancorp raised its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 118.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,908 shares of the information technology service provider's stock after purchasing an additional 19,987 shares during the quarter. Fifth Third Bancorp's holdings in Cognizant Technology Solutions were worth $2,880,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CGN Advisors LLC raised its position in Cognizant Technology Solutions by 9.7% in the 2nd quarter. CGN Advisors LLC now owns 27,509 shares of the information technology service provider's stock worth $2,147,000 after purchasing an additional 2,439 shares during the period. GAMMA Investing LLC raised its position in Cognizant Technology Solutions by 16.4% in the 2nd quarter. GAMMA Investing LLC now owns 14,035 shares of the information technology service provider's stock worth $1,095,000 after purchasing an additional 1,976 shares during the period. ABLE Financial Group LLC purchased a new stake in Cognizant Technology Solutions in the 2nd quarter worth about $978,000. Toth Financial Advisory Corp raised its position in Cognizant Technology Solutions by 1.4% in the 2nd quarter. Toth Financial Advisory Corp now owns 40,454 shares of the information technology service provider's stock worth $3,157,000 after purchasing an additional 551 shares during the period. Finally, Avanza Fonder AB raised its position in Cognizant Technology Solutions by 2.5% in the 2nd quarter. Avanza Fonder AB now owns 38,114 shares of the information technology service provider's stock worth $2,974,000 after purchasing an additional 933 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $66.98 on Friday. The company has a market cap of $32.71 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 1.39 and a beta of 0.93. Cognizant Technology Solutions Corporation has a twelve month low of $65.17 and a twelve month high of $90.82. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average of $71.11 and a two-hundred day moving average of $74.86.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.05. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The company had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same period last year, the firm earned $1.17 earnings per share. Cognizant Technology Solutions's revenue was up 8.1% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2025 guidance at 5.080-5.220 EPS. Q3 2025 guidance at EPS. As a group, analysts predict that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Monday, August 18th. Cognizant Technology Solutions's payout ratio is presently 25.20%.

Wall Street Analysts Forecast Growth

CTSH has been the topic of a number of recent analyst reports. Evercore ISI initiated coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They set an "outperform" rating and a $100.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They set a "hold" rating and a $80.00 target price on the stock. Guggenheim raised shares of Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 target price on the stock in a research report on Friday, July 18th. Wall Street Zen lowered shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Cognizant Technology Solutions from $101.00 to $89.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $86.79.

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.

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