Beat the peers, drop the stock: The brutal reality facing Cognizant’s CEO | Company Business News

The company’s shares hit a six-year low on 13 May, closing at $45.97 apiece on Nasdaq. Cognizant’s market capitalization of $21.78 billion was also at its lowest that day. It was not a sudden dip. The company’s shares have fallen more than 38% since this year, more than that of TCS, Infosys, HCL Technologies, and Wipro, each of which fell between 30% and 33%. And as part of a quarterly rebalance, Cognizant was even dropped from the Nasdaq-100 index, which includes the 100 largest non-financial companies.