Cognizant Technology Solutions (CTSH) Marked As A Dead Cat Bounce Stock

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Trade-Ideas LLC identified Cognizant Technology Solutions ( CTSH) as a "dead cat bounce" (down big yesterday but up big today) candidate. In addition to specific proprietary factors, Trade-Ideas identified Cognizant Technology Solutions as such a stock due to the following factors:

  • CTSH has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $338.2 million.
  • CTSH has traded 351,849 shares today.
  • CTSH is up 3% today.
  • CTSH was down 12.6% yesterday.

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More details on CTSH:

Cognizant Technology Solutions Corporation provides information technology (IT), consulting, and business process services worldwide. The company operates in four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. CTSH has a PE ratio of 23.6. Currently there are 12 analysts that rate Cognizant Technology Solutions a buy, no analysts rate it a sell, and 1 rates it a hold.

The average volume for Cognizant Technology Solutions has been 3.4 million shares per day over the past 30 days. Cognizant Technology has a market cap of $30.4 billion and is part of the technology sector and computer software & services industry. The stock has a beta of 1.55 and a short float of 1.5% with 1.53 days to cover. Shares are down 0.9% year-to-date as of the close of trading on Tuesday.

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