Banco Bilbao Vizcaya Argentaria S.A. Sells 95,405 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Banco Bilbao Vizcaya Argentaria S.A. decreased its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 49.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,140 shares of the information technology service provider's stock after selling 95,405 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Cognizant Technology Solutions were worth $7,470,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Tudor Financial Inc. purchased a new position in Cognizant Technology Solutions during the 3rd quarter valued at about $225,000. World Investment Advisors LLC lifted its holdings in shares of Cognizant Technology Solutions by 21.8% during the third quarter. World Investment Advisors LLC now owns 5,634 shares of the information technology service provider's stock valued at $435,000 after purchasing an additional 1,010 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Cognizant Technology Solutions in the 3rd quarter worth approximately $155,000. Retirement Systems of Alabama grew its stake in shares of Cognizant Technology Solutions by 3.5% in the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider's stock worth $91,678,000 after buying an additional 40,226 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Cognizant Technology Solutions by 5.0% during the 3rd quarter. Principal Financial Group Inc. now owns 665,305 shares of the information technology service provider's stock valued at $51,348,000 after buying an additional 31,758 shares in the last quarter. Institutional investors own 92.44% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CTSH shares. Guggenheim reissued a "neutral" rating on shares of Cognizant Technology Solutions in a research note on Wednesday, April 23rd. Morgan Stanley decreased their target price on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating for the company in a report on Wednesday, March 12th. Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, March 27th. Susquehanna decreased their price objective on shares of Cognizant Technology Solutions from $82.00 to $77.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Finally, Mizuho raised Cognizant Technology Solutions to a "hold" rating in a research report on Wednesday, March 19th. Fifteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $83.13.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock traded up $0.71 during trading hours on Tuesday, reaching $73.29. 3,471,061 shares of the company traded hands, compared to its average volume of 3,595,867. The firm has a 50-day moving average price of $76.60 and a 200 day moving average price of $78.64. The company has a market cap of $36.25 billion, a P/E ratio of 16.25, a P/E/G ratio of 2.11 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. Cognizant Technology Solutions Co. has a 12-month low of $63.79 and a 12-month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. As a group, sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Tuesday, February 18th. This is an increase from Cognizant Technology Solutions's previous quarterly dividend of $0.30. Cognizant Technology Solutions's payout ratio is 27.49%.

Cognizant Technology Solutions announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 25th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the information technology service provider to reacquire up to 5.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

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.