Cognizant Technology Solutions stock sheds 3.29% and underperforms rivals
Updated
Updated · MarketWatch · Apr 30
Cognizant Technology Solutions stock sheds 3.29% and underperforms rivals
7 articles · Updated · MarketWatch · Apr 30
The shares closed at $52.90 on Thursday, their second straight loss, even as the S&P 500 rose 1.02% and the Dow gained 1.62%.
Cognizant lagged peers including Palantir and Leidos, while only Cadence posted a slight decline in the broadly positive session.
The stock finished 39.22% below its 52-week high of $87.03 reached on 14 January, with trading volume of 8.3 million above its 50-day average of 6.6 million.
Why did Cognizant's stock fall despite beating Q1 earnings and raising its full-year profit outlook?
Will Cognizant's aggressive AI acquisitions overcome its weak revenue forecast and costly restructuring?