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

Harvest Fund Management Co. Ltd grew its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 51.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,832 shares of the information technology service provider's stock after buying an additional 7,787 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Cognizant Technology Solutions were worth $1,762,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Cibc World Market Inc. grew its holdings in Cognizant Technology Solutions by 19,850.5% during the 2nd quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider's stock valued at $205,096,000 after buying an additional 3,000,996 shares in the last quarter. Pzena Investment Management LLC lifted its position in Cognizant Technology Solutions by 11.7% during the second quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider's stock valued at $1,265,473,000 after purchasing an additional 1,943,127 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Cognizant Technology Solutions by 152.8% in the 2nd quarter. Bank of Montreal Can now owns 2,120,012 shares of the information technology service provider's stock worth $146,132,000 after buying an additional 1,281,236 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Cognizant Technology Solutions by 276.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider's stock worth $122,603,000 after buying an additional 1,167,033 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Cognizant Technology Solutions by 129.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,904,263 shares of the information technology service provider's stock valued at $139,565,000 after acquiring an additional 1,073,666 shares during the last quarter. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Up 0.5 %

CTSH stock traded up $0.43 during midday trading on Tuesday, reaching $81.06. 2,828,801 shares of the company were exchanged, compared to its average volume of 3,833,563. The stock's 50-day simple moving average is $77.13 and its 200 day simple moving average is $73.51. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $82.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The company has a market cap of $40.19 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 2.19 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the company earned $1.16 earnings per share. On average, equities analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 26.55%.

Wall Street Analyst Weigh In

CTSH has been the subject of a number of recent analyst reports. StockNews.com cut Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a report on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a "neutral" rating in a report on Friday, September 6th. Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Jefferies Financial Group assumed coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They set a "buy" rating and a $90.00 price objective on the stock. Finally, Mizuho raised their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions presently has a consensus rating of "Hold" and an average price target of $79.47.

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.