Cognizant Technology Solutions Corporation (NASDAQ:CTSH) announces updates in response to the impact of the novel coronavirus (COVID-19)

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is now trading -27.41% off 52-week high price. On the other end, the stock has been noted 35.67% away from the low price over the last 52-weeks. The stock changed 5.62% to recent value of $54.28. The stock transacted 6155119 shares during most recent day however it has an average volume of 4.66M shares. The company has 559.89M of outstanding shares and 547.33M shares were floated in the market.

On April 9, 2020, Cognizant Technology Solutions Corporation (NASDAQ:CTSH) one of the world’s leading professional services companies, reported certain updates in response to the impact of the novel coronavirus (COVID-19) on business operations.

Our priorities remain the health and safety of our associates and the business continuity of our clients, said Brian Humphries, Chief Executive Officer. We are committed to helping our clients as they navigate unprecedented business challenges as well as supporting the efforts of governments globally to contain the spread of the virus.

I am pleased with our business momentum in the first two months of the quarter and grateful for the dedication and professionalism of our associates in March, both of which enabled us to meet our previously announced revenue guidance. We acted decisively to limit COVID-19’s impact on our business, including rapidly enabling work-from-home capabilities across our delivery teams. We will continue to take steps to protect our associates and support the evolving needs of clients in ‘s environment.

In this fluid environment where uncertainty prevails, we are well-positioned with deep client relationships across more than a dozen industries, and a strong balance sheet that provides solid financial flexibility. As ever, we stand committed to help our clients manage through economic, technological and other disruptions through our innovative solutions and talented associates, Humphries continued. I am proud of our 292,000 associates who have risen to the challenge of serving our clients with empathy, initiative and courage, and confident that we will emerge from this global crisis stronger together.

Its earnings per share (EPS) expected to touch remained -8.40% for this year while earning per share for the next 5-years is expected to reach at 7.96%. CTSH has a gross margin of 36.60% and an operating margin of 14.60% while its profit margin remained 11.00% for the last 12 months.

According to the most recent quarter its current ratio was 2.6 that represents company’s ability to meet its current financial obligations. The price moved ahead of 15.83% from the mean of 20 days, -5.17% from mean of 50 days SMA and performed -11.20% from mean of 200 days price. Company’s performance for the week was 22.56%, 2.15% for month and YTD performance remained -12.48%.

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