Cognizant Technology Solutions Corporation (CTSH) may enjoy gains as insiders got busy in the recent days


Cognizant Technology Solutions Corporation’s filing revealed that its Director Abdalla Zein unloaded Company’s shares for reported $0.29 million on Sep 09. In the deal valued at $65.44 per share,4,368 shares were sold. As a result of this transaction, Abdalla Zein now holds 13,556 shares worth roughly $ 0.73 million.

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Then, Patsalos-Fox Michael sold 5,687 shares, generating $423,139 in total proceeds. Upon selling the shares at $74.40, the Director now owns 57,534 shares.

Before that, Stafford Andrew J sold 5,867 shares. Cognizant Technology Solutions Corporation shares valued at $453,167 were divested by the EVP, Head of Global Delivery at a price of $77.24 per share. As a result of the transaction, Stafford Andrew J now holds 5,872 shares, worth roughly $0.32 million.

William Blair downgraded its Cognizant Technology Solutions Corporation [CTSH] rating to a Mkt perform from a an Outperform in a research note published on Monday. A number of analysts have revised their coverage, including Societe Generale’s analysts, who decreased its forecast for the stock in early November from “a Buy” to “a Hold”. RBC Capital Mkts also remained covering CTSH and has decreased its forecast on November 03, 2022 with a “Sector perform” recommendation from previously “an Outperform” rating. BMO Capital Markets revised its rating on November 03, 2022. It rated CTSH as “a Market perform” which previously was an “an Outperform”.

Price Performance Review of CTSH

On Monday, Cognizant Technology Solutions Corporation [NASDAQ:CTSH] saw its stock jump 2.13% to $53.75. On the same session, the stock had its day’s lowest price of $52.48, but rose to a high of $53.85. Over the last five days, the stock has lost -13.65%. Cognizant Technology Solutions Corporation shares have fallen nearly -39.42% since the year began. Nevertheless, the stocks have fallen -32.74% over the past one year. While a 52-week high of $93.47 was reached on 03/22/22, a 52-week low of $51.33 was recorded on 11/03/22. SMA at 50 days reached $60.50, while 200 days put it at $73.49. A total of 4.99 million shares were traded, compared to the trading of 0.74 million shares in the previous session.

Levels Of Support And Resistance For CTSH Stock

The 24-hour chart illustrates a support level at 52.87, which if violated will result in even more drops to 51.99. On the upside, there is a resistance level at 54.24. A further resistance level may holdings at 54.73. The Relative Strength Index (RSI) on the 14-day chart is 33.69, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -6.65, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 79.42%. Stochastics %K at 12.33% indicates the stock is a buying.

How much short interest is there in Cognizant Technology Solutions Corporation?

A steep rise in short interest was recorded in Cognizant Technology Solutions Corporation stocks on Jul 14, 2022, growing by 1.36 million shares to a total of 6.5 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 5.14 million shares. There was a rise of 20.92%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.25% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.92.

Cognizant Technology Solutions Corporation [CTSH] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 41,130,484 shares, or roughly 7.94% of the outstanding CTSH shares. In other words, the investor’s shares have risen by 518,994 from its previous 13-F filing of 40611490.0. Additionally, Dodge & Cox decreased -4.65% of its stake after which the total value it holdings stand at $1,583,040,024, while BlackRock Fund Advisors added 1.67% of its stake to hold $1.48 billion in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -640,203 shares of Cognizant Technology Solutions Corporation, while Fidelity Management & Research Co sold -6,208,817 shares. At present, Invesco Advisers, Inc. is holding 14,880,807 shares valued at $854.75 million. Pzena Investment Management LLC owned 14,254,984 shares of the company at the time of its most recent 13F filing, worth $818.81 million.

According to FactSet, Cognizant Technology Solutions Corporation’s share price will average $65.26 in the next year, based on opinions of analysts polled by the firm. This is up nearly 21.6 percent from its previous closing price of $52.63. Analysts expect Cognizant Technology Solutions Corporation stock to reach the higher price of $93.00, while the lowest price estimate is $45.00. However, 27 analysts have rated CTSH stock as a Hold in their predictions for 2022.


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