Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lowered its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.3% during the fourth quarter, according to the company in 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 quarter. 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 hedge funds have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in Cognizant Technology Solutions during the fourth quarter worth approximately $26,000. NBC Securities Inc. acquired a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at $27,000. Valley National Advisers Inc. boosted its holdings in shares of Cognizant Technology Solutions by 43.2% in the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after purchasing an additional 178 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at $52,000. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Cognizant Technology Solutions by 26.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock valued at $52,000 after purchasing an additional 162 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 0.4 %

Shares of Cognizant Technology Solutions stock traded down $0.25 on Wednesday, hitting $67.52. 4,252,345 shares of the company’s stock traded hands, compared to its average volume of 4,309,220. The firm’s 50-day moving average is $74.13 and its 200 day moving average is $72.58. Cognizant Technology Solutions Co. has a 52-week low of $58.09 and a 52-week high of $80.09. The stock has a market cap of $33.61 billion, a P/E ratio of 16.14, a PEG ratio of 1.55 and a beta of 1.06. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.14. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The firm had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same period last year, the business posted $1.01 earnings per share. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.59 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CTSH. BMO Capital Markets decreased their price target on shares of Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating on the stock in a report on Wednesday, February 7th. Guggenheim initiated coverage on shares of Cognizant Technology Solutions in a report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price target on the stock. Citigroup reduced their target price on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Monday. Royal Bank of Canada lifted their target price on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a report on Wednesday, February 7th. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $80.00 price objective (down previously from $87.00) on shares of Cognizant Technology Solutions in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $76.44.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the firm’s stock in a transaction on 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 directly owns 8,312 shares in the company, valued at $640,522.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is currently owned by company insiders.

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.