Cognizant Technology Solutions Corporation [CTSH] stock for 174,218 USD was sold by Mackay Leo S. Jr.


Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Cognizant Technology Solutions Corporation shares valued at $174,218 were sold by Mackay Leo S. Jr. on Nov 07. At $52.79 per share, Mackay Leo S. Jr. sold 3,300 shares. The insider’s holdings dropped to 28,310 shares worth approximately $1.77 million following the completion of this transaction.

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Also, Abdalla Zein sold 4,368 shares, netting a total of over 285,846 in proceeds. Following the sale of shares at $65.44 each, the insider now holds 13,556 shares.

Before that, Patsalos-Fox Michael had sold 5,687 shares from its account. In a trade valued at $423,139, the Director traded Cognizant Technology Solutions Corporation shares for $74.40 each. Upon closing the transaction, the insider’s holdings decreased to 5,687 shares, worth approximately $3.6 million.

As published in a research note from Robert W. Baird on February 03, 2023, Cognizant Technology Solutions Corporation [CTSH] has been rated down from an Outperform to a Neutral and the price target has been revised to $68 from $66. This represents a 8.04% premium over Thursday’s closing price. Analysts at MoffettNathanson downgraded the stock from ‘”a Market perform”‘ to ‘”an Underperform”‘ outlook in a report released in late January. As of January 19, 2023, MoffettNathanson has decreased its “Market perform” rating to a “an Underperform” for CTSH. Earlier on January 09, 2023, BofA Securities downgraded its rating. Their new recommendation was “an Underperform” for CTSH stock which previously was a “a Neutral”.

Analyzing CTSH Stock Performance

On Thursday, Cognizant Technology Solutions Corporation [NASDAQ: CTSH] rose 0.26% to $62.53. The stock’s lowest price that day was $61.85, but it reached a high of $62.65 in the same session. During the last five days, there has been a drop of approximately -2.74%. Over the course of the year, Cognizant Technology Solutions Corporation shares have jumped approximately 9.34%. Shares of the company reached a 52-week high of $70.86 on 02/02/23 and a 52-week low of $56.78 on 01/05/23. A 50-day SMA is recorded $62.72, while a 200-day SMA reached $63.92. Nevertheless, trading volume fell to 3.99 million shares from 3.09 million shares the previous day.

Support And Resistance Levels for Cognizant Technology Solutions Corporation (CTSH)

According to the 24-hour chart, there is a support level at 61.89, which, if violated, would cause prices to drop to 61.42. In the upper region, resistance lies at 62.85. The next price resistance is at 63.34. RSI (Relative Strength Index) is 39.60 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.44, which suggests the price will decrease in the coming days. Percent R is at 89.61%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Cognizant Technology Solutions Corporation subject to short interest?

Stocks of Cognizant Technology Solutions Corporation saw a sharp steep in short interest on Jan 12, 2023 dropping by 20000.0 shares to 8.18 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 8.2 million shares. A decline of -0.24% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.61 of the overall float, the days-to-cover ratio (short ratio) decline to 1.61.

Which companies own the most shares of Cognizant Technology Solutions Corporation (CTSH)?

According to The Vanguard Group, Inc. filings, the company currently owns 41,592,404 shares, which is about 8.09% of the total CTSH shares outstanding. The investor’s shares have appreciated by 185,725 from its previous 13-F filing of 41406679.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $1,795,051,947. SSgA Funds Management, Inc. reduced a -0.35% interest valued at $1.46 billion while Dodge & Cox sold a -3,762,089 stake. A total of 3,102,695 shares of Cognizant Technology Solutions Corporation were sold by Pzena Investment Management LLC during the quarter, and -199,045 were sold by Walter Scott & Partners Ltd. In its current portfolio, BlackRock Advisors LLC holds 10,660,331 shares valued at $711.58 million.

In terms of Cognizant Technology Solutions Corporation share price expectations, FactSet research, analysts set an average price target of $65.66 in the next 12 months, up nearly 5.02% from the previous closing price of $62.37. Analysts anticipate Cognizant Technology Solutions Corporation stock to reach $91.00 by 2023, with the lowest price target being $49.00. In spite of this, 29 analysts ranked Cognizant Technology Solutions Corporation stock as a Hold at the end of 2023. On January 05, 2023, Wolfe Research assigned a price target of “an Underperform” to the stock and downgraded coverage with a $49.


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