GF Fund Management CO. LTD. Invests $7.23 Million in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

GF Fund Management CO. LTD. bought a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 93,970 shares of the information technology service provider's stock, valued at approximately $7,226,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in Cognizant Technology Solutions during the fourth quarter valued at approximately $527,719,000. National Bank of Canada FI grew its position in shares of Cognizant Technology Solutions by 54.6% in the 4th quarter. National Bank of Canada FI now owns 5,633,987 shares of the information technology service provider's stock worth $433,254,000 after acquiring an additional 1,990,515 shares in the last quarter. AE Industrial Partners LP bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at approximately $113,088,000. Capital Research Global Investors increased its holdings in shares of Cognizant Technology Solutions by 98.9% in the 4th quarter. Capital Research Global Investors now owns 2,742,442 shares of the information technology service provider's stock valued at $210,894,000 after acquiring an additional 1,363,570 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of Cognizant Technology Solutions by 47.8% during the 4th quarter. Deutsche Bank AG now owns 3,303,355 shares of the information technology service provider's stock valued at $254,028,000 after acquiring an additional 1,068,420 shares in the last quarter. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ CTSH traded down $0.53 during midday trading on Friday, hitting $80.12. 630,920 shares of the company's stock were exchanged, compared to its average volume of 3,561,298. The stock's 50 day moving average price is $75.29 and its 200-day moving average price is $78.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The firm has a market cap of $39.49 billion, a P/E ratio of 17.76, a PEG ratio of 2.11 and a beta of 0.93. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.03. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the company earned $1.12 earnings per share. The company's quarterly revenue was up 7.5% compared to the same quarter last year. Equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions declared that its board has initiated a stock repurchase plan on Tuesday, March 25th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information technology service provider to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.55%. Cognizant Technology Solutions's dividend payout ratio (DPR) is 26.11%.

Analyst Ratings Changes

A number of equities analysts have commented on CTSH shares. Robert W. Baird lifted their price objective on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. BMO Capital Markets raised their price target on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a "market perform" rating in a research report on Thursday, February 6th. Susquehanna raised shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and lifted their price target for the company from $77.00 to $90.00 in a report on Thursday, May 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 1st. Finally, Wall Street Zen upgraded shares of Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $85.00.

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.