# Cognizant Technology Solutions Corp Class A (CTSH)

Cognizant is an American multinational technology company that provides business consulting, information technology and outsourcing services. It is headquartered in Teaneck, New Jersey, United States.

## Stock Price Trends

Stock price trends estimated using linear regression.

#### Key facts

• The primary trend is decreasing.
• The decline rate of the primary trend is 66.15% per annum.
• CTSH price at the close of April 19, 2024 was \$67.44 and was inside the primary price channel.
• The secondary trend is decreasing.
• The decline rate of the secondary trend is 83.84% per annum.
• CTSH price at the close of April 19, 2024 was inside the secondary price channel.

### Linear Regression Model

Model equation:
Yi = α + β × Xi + εi

Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)

Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)

where:

i - observation number
Yi - natural logarithm of CTSH price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e

### Primary Trend

Start date: February 22, 2024
End date: April 19, 2024

a = 9.6322

b = -0.0030

s = 0.0108

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × -0.0030) – 1
= -66.15%

Exp(4 × s) – 1
= Exp(4 × 0.0108) – 1
= 4.42%

#### February 22, 2024 calculations

Top border of price channel:

Exp(Y1,218)
= Exp(a + b × X1,218 + 2 × s)
= Exp(a + b × 1,767 + 2 × s)
= Exp(9.6322 + -0.0030 × 1,767 + 2 × 0.0108)
= Exp(4.4102)
= \$82.28

Bottom border of price channel:

Exp(Y1,218)
= Exp(a + b × X1,218 – 2 × s)
= Exp(a + b × 1,767 – 2 × s)
= Exp(9.6322 + -0.0030 × 1,767 – 2 × 0.0108)
= Exp(4.3669)
= \$78.80

#### April 19, 2024 calculations

Top border of price channel:

Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(9.6322 + -0.0030 × 1,824 + 2 × 0.0108)
= Exp(4.2410)
= \$69.48

Bottom border of price channel:

Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(9.6322 + -0.0030 × 1,824 – 2 × 0.0108)
= Exp(4.1978)
= \$66.54

#### Description

• The primary trend is decreasing.
• The decline rate of the primary trend is 66.15% per annum.
• CTSH price at the close of April 19, 2024 was \$67.44 and was inside the primary price channel.

### Secondary Trend

Start date: April 5, 2024
End date: April 19, 2024

a = 13.3140

b = -0.0050

s = 0.0078

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × -0.0050) – 1
= -83.84%

Exp(4 × s) – 1
= Exp(4 × 0.0078) – 1
= 3.15%

#### April 5, 2024 calculations

Top border of price channel:

Exp(Y1,248)
= Exp(a + b × X1,248 + 2 × s)
= Exp(a + b × 1,810 + 2 × s)
= Exp(13.3140 + -0.0050 × 1,810 + 2 × 0.0078)
= Exp(4.2919)
= \$73.11

Bottom border of price channel:

Exp(Y1,248)
= Exp(a + b × X1,248 – 2 × s)
= Exp(a + b × 1,810 – 2 × s)
= Exp(13.3140 + -0.0050 × 1,810 – 2 × 0.0078)
= Exp(4.2609)
= \$70.87

#### April 19, 2024 calculations

Top border of price channel:

Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(13.3140 + -0.0050 × 1,824 + 2 × 0.0078)
= Exp(4.2220)
= \$68.17

Bottom border of price channel:

Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(13.3140 + -0.0050 × 1,824 – 2 × 0.0078)
= Exp(4.1910)
= \$66.09

#### Description

• The secondary trend is decreasing.
• The decline rate of the secondary trend is 83.84% per annum.
• CTSH price at the close of April 19, 2024 was inside the secondary price channel.