Harvest Fund Management Co. Ltd Has $355,000 Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Harvest Fund Management Co. Ltd cut its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,753 shares of the information technology service provider’s stock after selling 267 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Cognizant Technology Solutions were worth $355,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $26,000. NBC Securities Inc. acquired a new stake in shares of Cognizant Technology Solutions in the third quarter valued at approximately $27,000. Valley National Advisers Inc. lifted its position in shares of Cognizant Technology Solutions by 43.2% in the fourth quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after buying an additional 178 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Cognizant Technology Solutions by 26.5% in the third quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock valued at $52,000 after buying an additional 162 shares during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $52,000. 92.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Evercore ISI raised their price objective on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. Societe Generale reissued a “sell” rating and set a $67.00 price target on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Susquehanna reissued a “neutral” rating and set a $80.00 price target (down from $87.00) on shares of Cognizant Technology Solutions in a report on Monday, April 1st. Citigroup dropped their price target on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating for the company in a report on Monday. Finally, Mizuho started coverage on Cognizant Technology Solutions in a report on Tuesday, January 30th. They set a “neutral” rating and a $82.00 price target for the company. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus target price of $76.44.

Cognizant Technology Solutions Price Performance

CTSH stock traded down $0.25 during midday trading on Wednesday, reaching $67.52. 4,252,345 shares of the stock were exchanged, compared to its average volume of 4,309,220. The stock has a market capitalization of $33.61 billion, a PE ratio of 16.14, a P/E/G ratio of 1.55 and a beta of 1.06. Cognizant Technology Solutions Co. has a 52 week low of $58.09 and a 52 week high of $80.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.25 and a quick ratio of 2.25. The company has a fifty day moving average price of $74.13 and a 200 day moving average price of $72.58.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.14. The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. Cognizant Technology Solutions’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 EPS. As a group, analysts expect that Cognizant Technology Solutions Co. will post 4.59 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Friday, February 16th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. Cognizant Technology Solutions’s payout ratio is 28.57%.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the sale, the executive vice president now owns 8,312 shares in the company, valued at approximately $640,522.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.27% of the company’s stock.

Cognizant Technology Solutions Company 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.