Mizuho Markets Americas LLC Sells 800,000 Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Key Points

• Mizuho Markets Americas LLC has significantly reduced its stake in Cognizant Technology Solutions, selling 800,000 shares and decreasing its ownership by 55.2%.
• Cognizant reported earnings of $1.31 per share for the most recent quarter, surpassing analysts' expectations and showing an 8.1% revenue growth year-over-year.
• The firm also declared a quarterly dividend of $0.31 per share, reflecting an annualized yield of 1.8%, with a payout ratio of 25.20%.

Mizuho Markets Americas LLC trimmed its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 55.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 650,000 shares of the information technology service provider's stock after selling 800,000 shares during the quarter. Cognizant Technology Solutions makes up approximately 1.0% of Mizuho Markets Americas LLC's holdings, making the stock its 23rd largest position. Mizuho Markets Americas LLC owned 0.13% of Cognizant Technology Solutions worth $49,725,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CTSH. Park Square Financial Group LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $36,000. CoreCap Advisors LLC boosted its position in shares of Cognizant Technology Solutions by 21.5% in the 4th quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock worth $55,000 after purchasing an additional 126 shares in the last quarter. Pinney & Scofield Inc. bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $55,000. Optiver Holding B.V. bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $66,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Cognizant Technology Solutions in the 1st quarter worth approximately $66,000. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $69.58 on Friday. The firm has a market cap of $34.30 billion, a PE ratio of 14.14, a P/E/G ratio of 1.44 and a beta of 0.90. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $76.92 and a two-hundred day simple moving average of $78.34. Cognizant Technology Solutions Corporation has a 1-year low of $65.52 and a 1-year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates of $1.26 by $0.05. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The business had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same period in the previous year, the business earned $1.17 EPS. The company's quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.8%. Cognizant Technology Solutions's payout ratio is presently 25.20%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Guggenheim raised Cognizant Technology Solutions from a "neutral" rating to a "buy" rating and set a $90.00 price target on the stock in a research report on Friday, July 18th. JPMorgan Chase & Co. decreased their price objective on shares of Cognizant Technology Solutions from $98.00 to $93.00 and set an "overweight" rating for the company in a report on Monday, July 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They issued a "hold" rating and a $80.00 price objective for the company. Evercore ISI assumed coverage on shares of Cognizant Technology Solutions in a report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 price objective for the company. Finally, Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, May 1st. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $86.56.

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.

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