Cognizant Technology Solutions Corp. [NASDAQ: CTSH] loss -0.09% on the last trading session, reaching $77.02 price per share at the time. The company report on March 7, 2024 at 12:01 AM that Cognizant Unveils Advanced Artificial Intelligence Lab to Accelerate AI Research and Innovation.
With 75 issued and pending patents, the lab will launch with a team of dedicated AI researchers and developers; focus will be on research, innovation and production of cutting-edge AI systems.
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– Cognizant (Nasdaq: CTSH), a leading global technology company, today announced the launch of an Advanced Artificial Intelligence (AI) Lab. The lab, based in San Francisco, will focus on advancing the science and practice of AI through innovation and development of intellectual property and AI-enablement technologies. Staffed by a team of researchers and developers, including AI pioneers and PhDs, the lab will collaborate with research institutions, customers, and startups and already has 75 issued and pending patents that provide a differentiated foundation on which to build cutting edge AI solutions. The lab is part of the commitment Cognizant announced last year to invest $1 billion in generative AI (gen AI) over the next three years.
If compared to the average trading volume of 3.97M shares, CTSH reached a trading volume of 4040669 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 Corp. [CTSH]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CTSH shares is $78.09 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 2.73. 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.
Mizuho have made an estimate for Cognizant Technology Solutions Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 30, 2024. The new note on the price target was released on January 05, 2024, representing the official price target for Cognizant Technology Solutions Corp. stock. On December 14, 2023, analysts increased their price target for CTSH shares from 61 to 75.
The Average True Range (ATR) for Cognizant Technology Solutions Corp. is set at 1.23, with the Price to Sales ratio for CTSH stock in the period of the last 12 months amounting to 1.98. The Price to Book ratio for the last quarter was 2.90, with the Price to Cash per share for the same quarter was set at 5.29. Price to Free Cash Flow for CTSH in the course of the last twelve months was 19.05 with Quick ratio for the last quarter at 2.25.
Trading performance analysis for CTSH stock
Cognizant Technology Solutions Corp. [CTSH] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.43. With this latest performance, CTSH shares gained by 0.64% in over the last four-week period, additionally plugging by 9.82% over the last 6 months – not to mention a rise of 32.84% 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 47.07, with the RSI for the last a single of trading hit 43.49, and the three-weeks RSI is set at 49.73 for Cognizant Technology Solutions Corp. [CTSH]. The present Moving Average for the last 50 days of trading for this stock 76.96, while it was recorded at 77.06 for the last single week of trading, and 70.31 for the last 200 days.
Cognizant Technology Solutions Corp. [CTSH]: A deeper dive into fundamental analysis
Cognizant Technology Solutions Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.25 and a Current Ratio set at 2.25.
Cognizant Technology Solutions Corp. [CTSH]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Cognizant Technology Solutions Corp. posted 1.11/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 6.70%. 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 Corp. go to 6.66%.
An analysis of Institutional ownership at Cognizant Technology Solutions Corp. [CTSH]
The top three institutional holders of CTSH stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CTSH stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CTSH stock with ownership which is approximately 5.8325%.
