Cognizant Technology Solutions Corporation (CTSH) : The money flow is calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades, which was negative (11.68 million) in Cognizant Technology Solutions Corporation (CTSH). On Wednesday, The value of composite uptick trades was $33.99 million, whereas, the value of composite downtick trades was $45.67 million and the ratio between the two was 0.74, indicating selling on strength. Traders involved in block trades booked profits in their holdings as seen in the transactions on downticks valued at $18.29 million. $4.28 million was the block trade value on upticks. The ratio between the two was clearly in favor of the bears at 0.23. The negative money flow of ($14.02 million) shows selling on strength. Cognizant Technology Solutions Corporation (CTSH) gained $1.05 intraday at $58.72 and registrered 1.82% for the week.
Also, In a research note released to the investors, SunTrust Robinson Humphrey downgrades its rating on Cognizant Technology Solutions Corporation (NASDAQ:CTSH).The analysts at the brokerage house have a current rating of Neutral on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on July 12, 2016.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $57.74 and $57.50 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $58.82. The buying momentum continued till the end and the stock did not give up its gains. It closed at $58.72, notching a gain of 1.82% for the day. The total traded volume was 3,589,195 . The stock had closed at $57.67 on the previous day.
The stock has recorded a 20-day Moving Average of 1.01% and the 50-Day Moving Average is 2.13%. In a related news, Mcloughlin Karen, officer (Chief Financial Officer) of Cognizant Technology Solutions Corp, unloaded 8,018 shares at an average price of $61.13 on June 20, 2016. The total amount of the transaction was worth $490,140, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Cognizant Technology Solutions Corporation is a provider of information technology (IT), consulting and business process services. The Company operates in four segments: Financial Services segment, which include banking and insurance; Healthcare segment, which includes healthcare and life sciences, and Manufacturing/Retail/Logistics segment, which includes manufacturing and logistics; retail, travel and hospitality, and consumer goods and Other segment, which includes Communications, Manufacturing/Retail/Logistics, and High Technology. The Companies competencies include business, process, operations and IT consulting, application development and systems integration, enterprise information management (EIM), application testing, application maintenance, IT infrastructure services (IT IS) and business process services (BPS). It provides a range of consulting, information technology and outsourcing services, including consulting and technology services, and outsourcing services.