Harvest Fund Management Co. Ltd Grows Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Harvest Fund Management Co. Ltd grew its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 27.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,180 shares of the information technology service provider’s stock after purchasing an additional 6,348 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Cognizant Technology Solutions were worth $2,243,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Retirement Systems of Alabama lifted its stake in Cognizant Technology Solutions by 3.5% during the third quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock worth $91,678,000 after purchasing an additional 40,226 shares in the last quarter. CGN Advisors LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter worth $1,294,000. ICICI Prudential Asset Management Co Ltd lifted its stake in Cognizant Technology Solutions by 50.7% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider’s stock worth $33,041,000 after purchasing an additional 144,535 shares in the last quarter. Todd Asset Management LLC lifted its stake in Cognizant Technology Solutions by 24.4% during the fourth quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider’s stock worth $33,568,000 after purchasing an additional 85,539 shares in the last quarter. Finally, Matthews International Capital Management LLC lifted its stake in Cognizant Technology Solutions by 52.0% during the fourth quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider’s stock worth $3,853,000 after purchasing an additional 17,134 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $79.66 on Thursday. The stock’s 50-day moving average is $82.61 and its two-hundred day moving average is $79.46. The firm has a market cap of $39.40 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 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, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. Analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were issued a dividend of $0.31 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.56%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 27.49%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Royal Bank of Canada upped their price target on Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. UBS Group reduced their price objective on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, February 6th. Barclays increased their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Morgan Stanley reduced their price objective on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Fifteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $83.71.

Cognizant Technology Solutions 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.