Cognizant Technology Solutions Corporation [CTSH] Stock trading around $74.70 per share: What’s Next?

Cognizant Technology Solutions Corporation [NASDAQ: CTSH] plunged by -$2.3 during the normal trading session on Wednesday and reaching a high of $76.77 during the day while it closed the day at $74.70. The company report on November 17, 2020 that XPRIZE and Cognizant Announce Pandemic Response Challenge to Safely Reopen Societies and Restart Economies Around the World.

New $500K, four-month competition aims to accelerate use of artificial intelligence to minimize coronavirus infection cases while reducing the economic cost of lockdowns.

As COVID-19 rates continue to surge in countries around the world, XPRIZE, the world’s leader in designing and operating incentive competitions to solve humanity’s grand challenges, in partnership with Cognizant (Nasdaq: CTSH), one of the world’s leading technology and professional services companies, today launched the Pandemic Response Challenge. The competition aims to harness the power of data and artificial intelligence in equipping policymakers, health officials, and business leaders with the insights and guidance necessary to implement public safety measures that maximize their ability to keep local economies open while minimizing potential virus breakouts.

Cognizant Technology Solutions Corporation stock has also loss -2.68% of its value over the past 7 days. However, CTSH stock has inclined by 12.67% in the 3 months of the year. Over the past six months meanwhile, it has gained 44.38% and gained 20.45% year-on date.

The market cap for CTSH stock reached $39.44 billion, with 542.00 million shares outstanding and 529.02 million shares in the current float. Compared to the average trading volume of 3.12M shares, CTSH reached a trading volume of 4192392 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Cognizant Technology Solutions Corporation [CTSH]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CTSH shares is $75.68 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CTSH stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Societe Generale have made an estimate for Cognizant Technology Solutions Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 29, 2020. While these analysts kept the previous recommendation, Cowen raised their target price from $70 to $85. The new note on the price target was released on October 29, 2020, representing the official price target for Cognizant Technology Solutions Corporation stock. On September 11, 2020, analysts increased their price target for CTSH shares from 67 to 76.

The Average True Range (ATR) for Cognizant Technology Solutions Corporation is set at 1.91, with the Price to Sales ratio for CTSH stock in the period of the last 12 months amounting to 2.35. The Price to Book ratio for the last quarter was 3.64, with the Price to Cash per share for the same quarter was set at 8.67. Price to Free Cash Flow for CTSH in the course of the last twelve months was 16.00 with Quick ratio for the last quarter at 2.60.

CTSH stock trade performance evaluation

Cognizant Technology Solutions Corporation [CTSH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.68. With this latest performance, CTSH shares gained by 1.84% in over the last four-week period, additionally plugging by 44.38% over the last 6 months – not to mention a rise of 16.86% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CTSH stock in for the last two-week period is set at 53.86, with the RSI for the last a single of trading hit 49.58, and the three-weeks RSI is set at 55.17 for Cognizant Technology Solutions Corporation [CTSH]. The present Moving Average for the last 50 days of trading for this stock 71.86, while it was recorded at 76.58 for the last single week of trading, and 61.60 for the last 200 days.

Cognizant Technology Solutions Corporation [CTSH]: An insightful look at the core fundamentals

Cognizant Technology Solutions Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.60 and a Current Ratio set at 2.60.

Earnings per share (EPS) analysis for Cognizant Technology Solutions Corporation [CTSH] stock

With the latest financial reports released by the company, Cognizant Technology Solutions Corporation posted 1.07/share EPS, while the average EPS was predicted by analysts to be reported at 1.04/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CTSH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cognizant Technology Solutions Corporation go to 2.47%.

Cognizant Technology Solutions Corporation [CTSH]: Insider Ownership positions

There are presently around $36,446 million, or 94.10% of CTSH stock, in the hands of institutional investors. The top three institutional holders of CTSH stocks are: BLACKROCK INC. with ownership of 52,875,558, which is approximately -2.922% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 42,466,357 shares of the stock with an approximate value of $3.17 billion in CTSH stocks shares; and STATE STREET CORP, currently with $1.76 billion in CTSH stock with ownership of nearly -1.804% of the company’s market capitalization.

353 institutional holders increased their position in Cognizant Technology Solutions Corporation [NASDAQ:CTSH] by around 18,392,537 shares. Additionally, 428 investors decreased positions by around 32,890,452 shares, while 122 investors held positions by with 436,621,217 shares. The mentioned changes placed institutional holdings at 487,904,206 shares, according to the latest SEC report filing. CTSH stock had 88 new institutional investments in for a total of 2,983,611 shares, while 69 institutional investors sold positions of 1,986,381 shares during the same period.

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