Cognizant Technology Solutions Corporation (NASDAQ:CTSH) closed with change of -0.33% to $83.79 with the total traded volume of 2279596 shares versus to an average volume of 3.80M. The stock was up in the 5 days activity 0.87%. The one month performance of stock was high 9.83%. CTSH shares are above 16.67% for the quarter and driving a 41.42% rally over the course of the past year and is now up 17.98% since this point in 2018. Right now CTSH beta is 1.04. The average volatility for the week and month was at 1.49% 2.00% respectively.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) reported that it has entered into an accelerated share repurchase (“ASR”) agreement with Societe Generale to repurchase an aggregate of $300 million of Cognizant’s Class A common stock. This ASR agreement is a continuation of its previously announced $3.4 billion capital return plan.
Under the terms of the ASR agreement, approximately 3.04 million of the shares to be repurchased will be received by Cognizant on March 14, 2018. The final number of shares to be repurchased will be based on the volume-weighted average stock price of Cognizant’s Class A common stock less a discount and subject to potential adjustments pursuant to the terms of the ASR agreement. Final settlement of the transaction under the ASR agreement is anticipated to occur during the second quarter of 2018. Cognizant will fund the ASR program on March 14, 2018 from cash on hand and its existing credit facility.
Shares of Cognizant Technology Solutions Corporation have been recently spotted trading -1.37% off of the 52-week high price. On the other end, company shares have been noted 45.72% away from the low price over the last 52-weeks. 52 week range of the stock remained $ 57.50 – 84.95. Switching over to some distances from popular moving averages, we see that the stock has been recorded 7.61% away from the 50 day moving average and 15.42% away from the 200 day moving average. Moving closer, we can see that shares have been trading 2.48% off of the 20-day moving average.