Cognizant Technology Solutions
Corp.(NASDAQ: CTSH) shares are currently trading at $60.62 a weekly gain of
$5.89 gain which is 10.76% up from last
Tuesday closing price of $54.73. The company’s shares have 52-week trading
range of $29.75 - $63.94. The daily average volume of the stock is 3.14 million
shares. The company has 50 day moving average of $52.40 and 200 day moving
average of $48.56. The RSI of the stock is 74.18, showing an overbought
position of the stock.
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However the stock has crossed its 52 week high and moved in a new range.
The sustenance and resistance levels of Cognizant Technology Solutions Corp. are
$54.91 and $68.03. The Market Capitalization of the company is $18.15 billion.
Cognizant Technology Solutions Corporation (NASDAQ: CTSH), a leading
provider of information technology, consulting and business process outsourcing
services, yesterday announced its second quarter 2010 financial results.
Quarterly revenue rose to $1.105 billion, up 15% sequentially and 42%
from the year-ago quarter. Diluted EPS on a GAAP basis was $0.56, compared to
$0.47 in the year-ago quarter.
The company reported a profit that higher than market estimates for the
sixth straight quarter, and raised its 2010 revenue outlook well above than the
market were expecting.
Second-quarter adjusted operating margins came in at 19.9 percent,
within the companies target operating margins of 19 percent to 20 percent. The
company expects to maintain its margins within that range in the second half of
the year also.
The company forecasts, the Third quarter 2010 revenues to be at least
$1.175 billion. Diluted EPS expected to be $0.59 on a GAAP basis and $0.63 on a
non-GAAP basis, which excludes $0.04 of estimated stock-based compensation
expense.
Fiscal 2010 revenue expected to be at least $4.46 billion, up at least
36% compared to 2009. Fiscal 2010 diluted EPS expected to be at least $2.26 on
a GAAP basis, and at least $2.42 on a non-GAAP basis, which excludes $0.16 of
estimated stock-based compensation expense.
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Cognizant Technology Solutions Corporation is a leading provider of
information technology, consulting, and business process outsourcing services.
The Company’s competencies include Technology Consulting, Complex Systems
Development and Integration, Enterprise Software Package Implementation and
Maintenance, Data Warehousing, Business Intelligence and Analytics, Application
Testing, Application Maintenance, Infrastructure Management, and Business and
Knowledge Process Outsourcing (BPO and KPO). The Company operates in four
segments: Financial Services, Healthcare, Manufacturing, Retail and Logistics,
and Other, which includes Communications, Information, Media and Entertainment
and High Technology. The Company’s customers are based in
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