Mizuho Markets Americas LLC Acquires New Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Mizuho Markets Americas LLC bought a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 800,000 shares of the information technology service provider's stock, valued at approximately $61,744,000. Cognizant Technology Solutions accounts for about 1.3% of Mizuho Markets Americas LLC's investment portfolio, making the stock its 18th biggest holding. Mizuho Markets Americas LLC owned about 0.16% of Cognizant Technology Solutions as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CTSH. 1620 Investment Advisors Inc. purchased a new stake in Cognizant Technology Solutions during the second quarter worth approximately $25,000. Addison Advisors LLC grew its stake in Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider's stock worth $26,000 after buying an additional 189 shares during the period. LRI Investments LLC purchased a new position in shares of Cognizant Technology Solutions in the first quarter valued at $28,000. Ashton Thomas Securities LLC purchased a new position in shares of Cognizant Technology Solutions in the third quarter valued at $30,000. Finally, Pinnacle Bancorp Inc. boosted its stake in shares of Cognizant Technology Solutions by 47.4% in the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider's stock valued at $35,000 after purchasing an additional 146 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of CTSH traded down $3.66 on Friday, reaching $77.11. 5,411,813 shares of the stock traded hands, compared to its average volume of 3,826,356. The firm has a market cap of $38.23 billion, a price-to-earnings ratio of 17.06, a P/E/G ratio of 2.27 and a beta of 1.05. 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 12 month low of $63.79 and a 12 month high of $82.41. The stock's 50-day moving average price is $76.85 and its 200-day moving average price is $72.83.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the prior year, the business posted $1.16 earnings per share. The business's revenue was up 3.0% compared to the same quarter last year. Equities 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. Shareholders of record on Tuesday, November 19th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions's dividend payout ratio (DPR) is 26.55%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CTSH shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. Robert W. Baird increased their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Bank of America upgraded shares of Cognizant Technology Solutions from an "underperform" rating to a "neutral" rating and increased their target price for the company from $73.00 to $75.00 in a research report on Wednesday, August 7th. Finally, StockNews.com lowered shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $78.83.

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.