Cognizant Technology Solutions Corp. (NASDAQ:CTSH) shares, rose in value on Friday, April 05, with the stock price down by -0.22% to the previous day’s close as strong demand from buyers drove the stock to $71.45.
Actively observing the price movement in the recent trading, the stock is buoying the session at $71.61. The value of beta (5-year monthly) is 1.07 whereas the PE ratio is 16.99 over 12-month period. Referring to stock’s 52-week performance, its high was $80.09, and the low was $58.09. On the whole, CTSH has fluctuated by -6.83% over the past month.
With the market capitalization of Cognizant Technology Solutions Corp. currently standing at about $35.57 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 01, 2024 – May 06, 2024. The company’s Forward Dividend Ratio is 1.17, with its dividend yield at 1.64%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.11, which is expected to increase to $1.15 for fiscal year $4.63 and then to about $4.98 by fiscal year 2025. Data indicates that the EPS growth is expected to be 1.80% in 2025, while the next year’s EPS growth is forecast to be 7.60%.
Analysts have estimated the company’s revenue for the quarter at $4.72 billion, with a low estimate of $4.68 billion and a high estimate of $4.75 billion. According to the average forecast, sales growth in current quarter could jump down -1.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $19.45 billion, representing an increase of 0.50% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that CTSH’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a Hold.
The stock’s technical analysis shows that the PEG ratio is about 2.55, with the price of CTSH currently trading nearly -3.74% and -6.50% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 32.32, while the 7-day volatility ratio is showing 1.51% which for the 30-day chart, stands at 1.58%. Furthermore, Cognizant Technology Solutions Corp. (CTSH)’s beta value is 1.06, and its average true range (ATR) is 1.19.
A comparison of Cognizant Technology Solutions Corp. (CTSH) with its peers suggests the former has fared considerably weaker in the market. CTSH showed an intraday change of -0.22% in today’s session so far, and over the past year, it grew by 17.77%%.
Data on historical trading for Cognizant Technology Solutions Corp. (NASDAQ:CTSH) indicates that the trading volumes over the past 10 days have averaged 5.51 million and over the past 3 months, they’ve averaged 4.53 million. According to company’s latest data on outstanding shares, there are 498.00 million shares outstanding.
Nearly 0.20% of Cognizant Technology Solutions Corp.’s shares belong to company insiders and institutional investors own 96.15% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 10.53 million shares as on Mar 15, 2024, resulting in a short ratio of 2.45. According to the data, the short interest in Cognizant Technology Solutions Corp. (CTSH) stood at 2.11% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 8.83 million. The stock has fallen by -5.40% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CTSH stock heading into the next quarter.
