Cognizant Technology Solutions Corporation Share Price Forecast October 2021 – Time to Buy CTSH?

The Nasdaq-listed CTSH shares of one of the leading tech solutions provider corporations known as Cognizant are in the green zone indicating a significant uptrend as CTSH enters the list of top gainers on various financial markets. Its price reached $79.79 increasing by 1.41% before markets closed on 19th October.

Cognizant Technology– Technical Analysis

Cognizant deals with not only technology solutions for various businesses but also specialises in consulting and business process outsourcing services. Cognizant is connected with healthcare, products, resources, media, communication, and even insurance services. From its foundation back in 1994 to the present, the company has become one of the top-tier technology services provides headquartered in Teaneck, New Jersey. A glance at its current financial statement reveals that the company’s total market capitalisation is currently above $41.46 billion while its enterprise value (MRQ) is $36.44 billion. Cognizant operates a total of $16.82 billion worth of total assets and it saw a net income of $1.39 billion.

Technical analysis shows an optimistic graph supported by various industry-favourite technical indicators including RSI (68.63), EMA (77.30), MACD (0.69), and SMA (76.23).

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Recent Developments

This month started on a positive note for anyone interested in Cognizant as the company’s representatives announced that the details of its third-quarter 2021 earnings release would take place on October 27 along with a virtue investor meeting. During this meeting, the strategic outlook of the company will be shared with all participating investors. Ceo of Cognizant Brian Humphries and CFO Jan Siegmund would also be included in this meeting.

The NJ-based technology services provider made headlines a while ago when it committed to net-zero carbon emissions by 2030. The news spread like wildfire gaining much applause and credit for setting a sustainable milestone for the benefit of global resources. Cognizant would reduce emissions by 50% from its global supply chain and operations to support the low-carbon economy and offset its remaining neglected carbon emissions.

Another development that put Cognizant shares. in its current strong buy zone is their agreement with Alveo, a market data integration service for financial services. By collaborating with Alveo, Cognizant would offer environmental, societal, and governance (ESG) data management solutions to the financial services industry. Cognizant would also incorporate ESG data within business processes for an improved regulatory environment.

Should You Buy CTSH Shares?

Investors are looking at a long term buy strategy for CTSH but it is recommended to test all possibilities before signing up for that sort of commitment. The company’s positive impact and incessant growth do urge people to get into CTSH. This share has been an attractive pick for almost a month now because:

• The uptrend in earnings estimate
• Growth in all sectors
• Encouraging share price movements

The total number of shareholders in Cognizant is close to 114. Last year’s revenue figure was north of $16 billion which is quite promising for any careful investor. As the company fundamentally focuses on improvement, there is no doubt that it would increase investors’ appreciation for the shares and ultimately help Cognizant break several boundaries and push the share values even higher than it is at the moment.

So it comes as no surprise that expert ratings are essentially positive for CTSH shares at the moment which is another reason for the favourable price movement that puts Cognizant as one of the best buys.

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