Why Cognizant Technology Stock Fell Today

·2-min read
Why Cognizant Technology Stock Fell Today

Shares of Cognizant Technology (NASDAQ: CTSH) fell today after the company reported its first-quarter results late yesterday. Cognizant Technology's first-quarter revenue increased 4.2% year over year, to $4.4 billion, and adjusted earnings were $0.97 per share, ahead of Wall Street's consensus estimate of $0.94 per share. "In the first quarter, we successfully executed our strategy of embracing digital, investing in international expansion, and repositioning the Cognizant brand," CEO Brian Humphries said in a press release.