The stock of Cognizant Technology Solutions Corp (NASDAQ:CTSH) gapped up by $3.32 today and has $60.42 target or 6.00% above today’s $57.00 share price. The 7 months technical chart setup indicates low risk for the $35.48B company. The gap was reported on Nov, 28 by Barchart.com. If the $60.42 price target is reached, the company will be worth $2.13B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 24.75M shares traded hands or 237.65% up from the average. Cognizant Technology Solutions Corp (NASDAQ:CTSH) has declined 11.56% since April 25, 2016 and is downtrending. It has underperformed by 17.57% the S&P500.
Analysts await Cognizant Technology Solutions Corp (NASDAQ:CTSH) to report earnings on February, 13. They expect $0.77 earnings per share, up 4.05% or $0.03 from last year’s $0.74 per share. CTSH’s profit will be $479.29 million for 18.51 P/E if the $0.77 EPS becomes a reality. After $0.81 actual earnings per share reported by Cognizant Technology Solutions Corp for the previous quarter, Wall Street now forecasts -4.94% negative EPS growth.
Cognizant Technology Solutions Corp (NASDAQ:CTSH) Ratings Coverage
Out of 21 analysts covering Cognizant Technology Solutions Corp. (NASDAQ:CTSH), 13 rate it a “Buy”, 2 “Sell”, while 6 “Hold”. This means 62% are positive. Cognizant Technology Solutions Corp. has been the topic of 35 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Sell” rating given on Monday, August 10 by Zacks. The stock of Cognizant Technology Solutions Corp (NASDAQ:CTSH) earned “Buy” rating by Needham on Thursday, August 6. On Wednesday, September 14 the stock rating was downgraded by CLSA to “Underperform”. The stock of Cognizant Technology Solutions Corp (NASDAQ:CTSH) earned “Market Perform” rating by William Blair on Wednesday, November 23. The stock of Cognizant Technology Solutions Corp (NASDAQ:CTSH) earned “Buy” rating by Societe Generale on Monday, September 26. On Friday, September 30 the stock rating was downgraded by Citigroup to “Neutral”. The firm earned “Neutral” rating on Thursday, September 15 by Goldman Sachs. The firm earned “Buy” rating on Thursday, September 10 by SunTrust. The stock of Cognizant Technology Solutions Corp (NASDAQ:CTSH) earned “Buy” rating by Monness Crespi & Hardt on Thursday, November 5. As per Tuesday, February 9, the company rating was maintained by RBC Capital Markets.
According to Zacks Investment Research, “Cognizant Technology Solutions delivers high-quality, cost-effective, full life cycle solutions to complex software development and maintenance problems that companies face as they transition to e-business. These services are delivered through the use of a seamless on-site and offshore consulting project team. The company’s solutions include application development and integration, application management, re-engineering, and mass change services.”
Insitutional Activity: The institutional sentiment decreased to 0.93 in 2016 Q2. Its down 0.04, from 0.97 in 2016Q1. The ratio turned negative, as 65 funds sold all Cognizant Technology Solutions Corp shares owned while 291 reduced positions. 67 funds bought stakes while 278 increased positions. They now own 506.90 million shares or 5.36% less from 535.62 million shares in 2016Q1.
Exxonmobil Tx last reported 0.19% of its portfolio in the stock. Arizona State Retirement Systems holds 0.12% or 148,658 shares in its portfolio. Livingston Group Inc Asset Management (Operating As Southport Capital Management), a Tennessee-based fund reported 1,423 shares. The Missouri-based Monetary Grp Inc has invested 0.72% in Cognizant Technology Solutions Corp (NASDAQ:CTSH). Mckinley Carter Wealth Services Inc has 0.95% invested in the company for 32,028 shares. Bath Savings holds 0.68% or 37,725 shares in its portfolio. Boston Prtn reported 51,768 shares or 0% of all its holdings. Credit Suisse Ag holds 0.14% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH) for 2.14 million shares. Moreover, First Republic Investment Management has 0.5% invested in Cognizant Technology Solutions Corp (NASDAQ:CTSH) for 903,130 shares. Glob X Mgmt Company Limited Company accumulated 0% or 84 shares. First Tru Advsrs L P, a Illinois-based fund reported 372,662 shares. Clearbridge Invs Limited Company has invested 0% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH). Independent Consultants has 0.19% invested in the company for 10,396 shares. Colony Ltd Llc holds 73,183 shares or 0.46% of its portfolio. Archford Strategies Limited Liability Company owns 1,045 shares or 0.03% of their US portfolio.
Insider Transactions: Since June 3, 2016, the stock had 0 insider purchases, and 12 sales for $33.34 million net activity. Another trade for 1,248 shares valued at $73,007 was sold by Frank Malcolm. 590 shares with value of $35,553 were sold by McLoughlin Karen on Friday, June 10. Schwartz Steven sold $31,944 worth of stock or 527 shares. Shares for $11.54M were sold by DSOUZA FRANCISCO on Thursday, July 28. COBURN GORDON sold 22,881 shares worth $1.38M.
More important recent Cognizant Technology Solutions Corp (NASDAQ:CTSH) news were published by: Reuters.com which released: “BRIEF-Elliott management sends letter to Cognizant Technology Solutions Co…” on November 28, 2016, also Businesswire.com published article titled: “Elliott Management Sends Letter to Cognizant Technology Solutions Corporation …”, Prnewswire.com published: “SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces an Investigation of …” on November 17, 2016. More interesting news about Cognizant Technology Solutions Corp (NASDAQ:CTSH) was released by: Northjersey.com and their article: “More fallout from Cognizant bribes probe” with publication date: November 07, 2016.
CTSH Company Profile
Cognizant Technology Solutions Corporation, incorporated on April 6, 1988, is a well-known provider of information technology (IT), consulting and business process services. The Firm operates through four divisions: Financial Services, which includes clients providing banking/transaction processing, capital markets and insurance services; Healthcare, which includes healthcare providers and payers, as well as life sciences customers, including pharmaceutical, biotech and medical device companies; Manufacturing, Retail and Logistics, which includes manufacturers, retailers, travel and other hospitality customers, as well as clients providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology. The Company’s competencies include business, process, activities and IT consulting, application development and systems integration, enterprise information management, application testing, application maintenance and IT infrastructure services.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.