Harvest Fund Management Co. Ltd Has $1.76 Million Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Harvest Fund Management Co. Ltd boosted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 51.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 22,832 shares of the information technology service provider’s stock after acquiring an additional 7,787 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Cognizant Technology Solutions were worth $1,762,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CTSH. International Assets Investment Management LLC acquired a new stake in Cognizant Technology Solutions in the third quarter worth $1,972,000. Trinity Legacy Partners LLC grew its stake in shares of Cognizant Technology Solutions by 14.3% during the 3rd quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider’s stock worth $4,629,000 after acquiring an additional 7,547 shares in the last quarter. Cetera Investment Advisers increased its stake in Cognizant Technology Solutions by 135.4% in the 1st quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider’s stock valued at $2,441,000 after buying an additional 19,157 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Cognizant Technology Solutions by 5.9% during the third quarter. PNC Financial Services Group Inc. now owns 119,570 shares of the information technology service provider’s stock worth $9,228,000 after acquiring an additional 6,626 shares in the last quarter. Finally, National Pension Service lifted its stake in Cognizant Technology Solutions by 15.9% in the third quarter. National Pension Service now owns 907,902 shares of the information technology service provider’s stock valued at $70,072,000 after acquiring an additional 124,740 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Up 1.4 %

Shares of CTSH opened at $80.63 on Tuesday. The firm has a 50 day simple moving average of $77.03 and a two-hundred day simple moving average of $73.41. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. Cognizant Technology Solutions Co. has a one year low of $63.79 and a one year high of $82.41. The company has a market cap of $39.98 billion, a P/E ratio of 17.84, a P/E/G ratio of 2.19 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data 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. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the prior year, the company earned $1.16 EPS. Cognizant Technology Solutions’s revenue for the quarter was up 3.0% on a year-over-year basis. Research analysts forecast that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Wall Street Analysts Forecast Growth

CTSH has been the topic of a number of research analyst reports. Mizuho increased their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Royal Bank of Canada raised their price objective on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average price target of $79.47.

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.