Cognizant Technology Solutions Corp. (CTSH) Looks Ready for Growth Despite 2.08% Change This Year

Cognizant Technology Solutions Corp. (NASDAQ: CTSH) is 2.08% higher on its value in year-to-date trading and has touched a low of $56.45 and a high of $78.93 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CTSH stock was last observed hovering at around $78.30 in the last trading session, with the day’s loss setting it -1.2%.

Currently trading at $77.10, the stock is -0.21% and 3.09% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.33 million and changing -1.53% at the moment leaves the stock 12.64% off its SMA200. CTSH registered 16.29% gain for a year compared to 6-month gain of 8.47%. The firm has a 50-day simple moving average (SMA 50) of $1.92 and a 200-day simple moving average (SMA200) of $11.07.

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The stock witnessed a 5.11% loss in the last 1 month and extending the period to 3 months gives it a 17.67%, and is -1.01% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.29% over the week and 1.92% over the month.

Cognizant Technology Solutions Corp. (CTSH) has around Feb 16 2024 employees, a market worth around $38.40B and $19.35B in sales. Current P/E ratio is 18.35 and Fwd P/E is 15.54. Profit margin for the company is 10.99%. Distance from 52-week low is 36.58% and -2.32% from its 52-week high. The company has generated returns on investments over the last 12 months (14.81%).

Cognizant Technology Solutions Corp. quarterly earnings per share for the current quarter are estimated at $1.11 with sales reaching $4.72B over the same period.The EPS is expected to grow by 0.98% this year, but quarterly earnings will post 0.90% year-over-year. Quarterly sales are estimated to shrink -1.90% in year-over-year returns.

Cognizant Technology Solutions Corp. (CTSH) Top Institutional Holders

1,335 institutions hold shares in Cognizant Technology Solutions Corp. (CTSH), with institutional investors hold 97.94% of the company’s shares. The shares outstanding are 498.00M, and float is at 497.03M with Short Float at 2.33%. Institutions hold 97.77% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 60.1 million shares valued at $3.92 billion. The investor’s holdings represent 11.90% of the CTSH Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 44.02 million shares valued at $2.87 billion to account for 8.72% of the shares outstanding. The other top investors are State Street Corporation which holds 22.28 million shares representing 4.41% and valued at over $1.45 billion, while Dodge & Cox Inc holds 3.89% of the shares totaling 19.64 million with a market value of $1.28 billion.

Cognizant Technology Solutions Corp. (CTSH) Insider Activity

A total of 90 insider transactions have happened at Cognizant Technology Solutions Corp. (CTSH) in the last six months, with sales accounting for 34 and purchases happening 56 times. The most recent transaction is an insider sale by Patsalos-Fox Michael ,the company’sDirector. SEC filings show that Patsalos-Fox Michael sold 6,926 shares of the company’s common stock on Jun 12 at a price of $62.79 per share for a total of $0.43 million. Following the sale, the insider now owns 64695.0 shares.

Cognizant Technology Solutions Corp. disclosed in a document filed with the SEC on Jun 09 that Mackay Leo S. Jr. (Director) sold a total of 4,473 shares of the company’s common stock. The trade occurred on Jun 09 and was made at $61.99 per share for $0.28 million. Following the transaction, the insider now directly holds 26671.0 shares of the CTSH stock.

Still, SEC filings show that on Jun 02, Walker Robert C. (EVP & Pres, Global Growth Mkts) disposed off 7,000 shares at an average price of $63.72 for $0.45 million. The insider now directly holds 7,710 shares of Cognizant Technology Solutions Corp. (CTSH).

Cognizant Technology Solutions Corp. (CTSH): Who are the competitors?

The company’s main competitors (and peers) include Cadence Design Systems Inc. (CDNS) that is trading 67.98% up over the past 12 months. Palantir Technologies Inc. (PLTR) that is 220.37% higher over the same period.