Cognizant Technology Solutions Corporation [CTSH] Is Currently 0.26 below its 200 Period Moving Avg: What Does This Mean?

Cognizant Technology Solutions Corporation [NASDAQ: CTSH] gained 0.26% or 0.16 points to close at $62.53 with a heavy trading volume of 3990096 shares. The company report on March 1, 2023 that DSB selects Cognizant as Sole Offshore Supplier of IT Consulting Services.

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Denmark’s largest railway operator extends its relationship with Cognizant for its ongoing strategy to use digital technologies to improve customer experience on its public transportation systems.

Cognizant (Nasdaq: CTSH) today announced that it has been selected by DSB, Denmark’s state railway operator, as the sole provider of offshore IT consulting services to accelerate, scale and further improve its ability to deliver against DSB’s digital strategy.

It opened the trading session at $62.09, the shares rose to $62.65 and dropped to $61.85, the range by which the price of stock traded the whole day. The daily chart for CTSH points out that the company has recorded -2.62% loss over the past six months. However, it is still -21.82% lower than its most recent low trading price.

If we look at the average trading volume of 4.77M shares, CTSH reached to a volume of 3990096 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $65.30 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 3.10. 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.

Robert W. Baird have made an estimate for Cognizant Technology Solutions Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 03, 2023. The new note on the price target was released on January 24, 2023, representing the official price target for Cognizant Technology Solutions Corporation stock. Previously, the target price had yet another drop from $70 to $60, while MoffettNathanson kept a Underperform rating on CTSH stock.

The Average True Range (ATR) for Cognizant Technology Solutions Corporation is set at 1.43, with the Price to Sales ratio for CTSH stock in the period of the last 12 months amounting to 1.65. The Price to Book ratio for the last quarter was 2.60, with the Price to Cash per share for the same quarter was set at 4.88. Price to Free Cash Flow for CTSH in the course of the last twelve months was 19.18 with Quick ratio for the last quarter at 2.20.

Trading performance analysis for CTSH stock

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 -2.74. With this latest performance, CTSH shares dropped by -6.32% in over the last four-week period, additionally sinking by -2.62% over the last 6 months – not to mention a drop of -27.12% 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 39.60, with the RSI for the last a single of trading hit 28.91, and the three-weeks RSI is set at 45.03 for Cognizant Technology Solutions Corporation [CTSH]. The present Moving Average for the last 50 days of trading for this stock 62.72, while it was recorded at 62.96 for the last single week of trading, and 63.92 for the last 200 days.

Cognizant Technology Solutions Corporation [CTSH]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Cognizant Technology Solutions Corporation [CTSH] shares currently have an operating margin of +15.35 and a Gross Margin at +33.07. Cognizant Technology Solutions Corporation’s Net Margin is presently recorded at +11.79.

Return on Equity for this stock inclined to 18.85, with Return on Assets sitting at 12.83.

Cognizant Technology Solutions Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.20.

Cognizant Technology Solutions Corporation [CTSH]: An earnings per share (EPS) analysis

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 5.50%.

An analysis of insider ownership at Cognizant Technology Solutions Corporation [CTSH]

There are presently around $29,608 million, or 93.50% of CTSH stock, in the hands of institutional investors. The top three institutional holders of CTSH stocks are: BLACKROCK INC. with ownership of 57,701,686, which is approximately 4.978% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 43,718,446 shares of the stock with an approximate value of $2.73 billion in CTSH stocks shares; and STATE STREET CORP, currently with $1.37 billion in CTSH stock with ownership of nearly -0.355% of the company’s market capitalization.

Positions in Cognizant Technology Solutions Corporation stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 377 institutional holders increased their position in Cognizant Technology Solutions Corporation [NASDAQ:CTSH] by around 41,628,985 shares. Additionally, 481 investors decreased positions by around 38,908,930 shares, while 129 investors held positions by with 392,959,343 shares. The mentioned changes placed institutional holdings at 473,497,258 shares, according to the latest SEC report filing. CTSH stock had 98 new institutional investments in for a total of 2,428,722 shares, while 105 institutional investors sold positions of 2,766,970 shares during the same period.


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