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

Mizuho Markets Americas LLC acquired a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 800,000 shares of the information technology service provider’s stock, valued at approximately $61,744,000. Cognizant Technology Solutions accounts for 1.3% of Mizuho Markets Americas LLC’s portfolio, making the stock its 18th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC lifted its stake in shares of Cognizant Technology Solutions by 8.0% in the third quarter. Empowered Funds LLC now owns 170,122 shares of the information technology service provider’s stock valued at $13,130,000 after buying an additional 12,537 shares during the period. Empirical Finance LLC increased its position in shares of Cognizant Technology Solutions by 2.0% during the third quarter. Empirical Finance LLC now owns 17,600 shares of the information technology service provider’s stock valued at $1,358,000 after purchasing an additional 337 shares during the period. CIBC Asset Management Inc lifted its position in Cognizant Technology Solutions by 5.3% in the third quarter. CIBC Asset Management Inc now owns 155,948 shares of the information technology service provider’s stock worth $12,036,000 after purchasing an additional 7,844 shares during the period. ING Groep NV boosted its stake in Cognizant Technology Solutions by 61.5% during the third quarter. ING Groep NV now owns 2,478,364 shares of the information technology service provider’s stock worth $191,280,000 after buying an additional 943,372 shares in the last quarter. Finally, Lifeworks Advisors LLC increased its holdings in Cognizant Technology Solutions by 7.0% in the 3rd quarter. Lifeworks Advisors LLC now owns 3,573 shares of the information technology service provider’s stock valued at $276,000 after buying an additional 233 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock opened at $77.11 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $82.41. The firm has a fifty day moving average of $76.85 and a two-hundred day moving average of $72.83. The stock has a market capitalization of $38.23 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 2.27 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. The company had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. Cognizant Technology Solutions’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 EPS. As a group, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.56%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 26.55%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Mizuho raised their price objective on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Bank of America raised Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $73.00 to $75.00 in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. Finally, StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.