Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cognizant Technology Solutions Corp. shares valued at $495,584 were sold by Singisetti Ravi Kumar on Aug 06 ’24. At $73.66 per share, Singisetti Ravi Kumar sold 6,728 shares. The insider’s holdings dropped to 46,427 shares worth approximately $3.6 million following the completion of this transaction.
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Also, Singisetti Ravi Kumar purchased 6,728 shares, netting a total of over 495,557 in proceeds.
Before that, Diaz Kathryn had sold 900 shares from its account. In a trade valued at $69,350, the EVP, Chief People Officer traded Cognizant Technology Solutions Corp. shares for $77.06 each. Upon closing the transaction, the insider’s holdings decreased to 900 shares, worth approximately $0.65 million.
Analysts at BofA Securities upgraded the stock from ‘”an Underperform”‘ to ‘”a Neutral”‘ outlook in a report released in early August. As of June 24, 2024, Goldman has initiated its “Neutral” rating for CTSH. Earlier on April 01, 2024, Susquehanna downgraded its rating. Their new recommendation was “a Neutral” for CTSH stock which previously was a “a Positive”.
Analyzing CTSH Stock Performance
During the last five days, there has been a surge of approximately 1.04%. Over the course of the year, Cognizant Technology Solutions Corp. shares have jumped approximately 2.74%. Shares of the company reached a 52-week high of $80.27 on 08/01/24 and a 52-week low of $63.79 on 06/17/24. A 50-day SMA is recorded $76.15, while a 200-day SMA reached $73.08. Nevertheless, trading volume fell to 2.33 million shares from 3.86 million shares the previous day.
Support And Resistance Levels for Cognizant Technology Solutions Corp. (CTSH)
According to the 24-hour chart, there is a support level at 77.31, which, if violated, would cause prices to drop to 77.02. In the upper region, resistance lies at 77.85. The next price resistance is at 78.10. RSI (Relative Strength Index) is 56.48 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.70, which suggests the price will decrease in the coming days. Percent R is at 5.93%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
