Mizuho Securities USA LLC Reduces Stock Position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Key Points

• Mizuho Securities USA LLC has reduced its stock position in Cognizant Technology Solutions by 15.7%, now holding 39,604 shares worth approximately $3.03 million.
• Cognizant reported $1.31 earnings per share for its most recent quarter, exceeding analysts' expectations and showing an 8.1% increase in year-over-year revenue to $5.25 billion.
• The company has announced a quarterly dividend of $0.31 per share, providing an annual yield of 1.8%, with a dividend payout ratio of 25.20%.

Mizuho Securities USA LLC cut its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Free Report) by 15.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,604 shares of the information technology service provider's stock after selling 7,389 shares during the period. Mizuho Securities USA LLC's holdings in Cognizant Technology Solutions were worth $3,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Park Square Financial Group LLC purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $36,000. CoreCap Advisors LLC grew its position in Cognizant Technology Solutions by 21.5% in the fourth quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock worth $55,000 after acquiring an additional 126 shares during the period. Pinney & Scofield Inc. purchased a new position in Cognizant Technology Solutions in the fourth quarter worth approximately $55,000. Optiver Holding B.V. purchased a new position in Cognizant Technology Solutions in the fourth quarter worth approximately $66,000. Finally, Zions Bancorporation National Association UT purchased a new position in Cognizant Technology Solutions in the first quarter worth approximately $66,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Up 0.7%

Cognizant Technology Solutions stock opened at $69.58 on Monday. Cognizant Technology Solutions Corporation has a 1-year low of $65.52 and a 1-year high of $90.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market cap of $33.98 billion, a PE ratio of 14.14, a P/E/G ratio of 1.45 and a beta of 0.90. The stock's fifty day moving average is $76.92 and its two-hundred day moving average is $78.32.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly 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 return on equity of 16.77% and a net margin of 11.89%. The company had revenue of $5.25 billion for the quarter, compared to analysts' expectations of $5.17 billion. During the same period last year, the firm earned $1.17 earnings per share. Cognizant Technology Solutions's quarterly revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be paid a $0.31 dividend. The ex-dividend date is Monday, August 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.8%. Cognizant Technology Solutions's dividend payout ratio (DPR) is currently 25.20%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CTSH shares. Deutsche Bank Aktiengesellschaft started coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued a "hold" rating and a $80.00 price objective for the company. TD Securities increased their price objective on Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Robert W. Baird increased their price objective on Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Evercore ISI started coverage on Cognizant Technology Solutions in a research report on Thursday, July 17th. They issued an "outperform" rating and a $100.00 price objective for the company. Finally, Wall Street Zen lowered Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $86.56.

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.

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