Cognizant Technology Solutions Corporation (NASDAQ:CTSH) [Trend Analysis] retains strong position in active trade, as shares scoring -0.95% to $56.26 in active trade session, while looking at the shares volume, around 6.72 Million shares have changed hands in this session. Cognizant Technology Solutions (CTSH) reported Friday that it has entered into contract to acquire Adaptra, a Sydney-based consulting, business transformation and IT services provider.
The financial terms of the deal were not disclosed. Adaptraspecialises in consulting, programmed management, and implementation of core platforms such as Guidewire to enable insurance companies to drive improvements across key functional areas.
Adaptra works with 5 of the top 10 insurers in Australia and New Zealand, helping them define their target business and operating models and providing platform advisory and implementation services. The firm has institutional ownership of 87.50%, while insider ownership included 0.30%. CTSH attains analyst recommendation of 2.20 with week’s performance of 1.12%. Investors looking further ahead will note that the Price to next year’s EPS is 8.73%.
Shares of Avista Corporation (NYSE:AVA) [Trend Analysis] swings enthusiastically in regular trading session, it a loss of -3.32% to close at $40.77. Avista’s (NYSE:AVA) electric and natural gas general rate cases have concluded, with an order from the Washington Utilities and Transportation Commission (Commission or UTC). The Commission’s order denied Avista’s proposed electric and natural gas rate increase requests of $38.6 million and $4.4 million, respectively, and will not change the current electric and natural gas retail rates.
“We are extremely disappointed in the Commission’s decision in this case. This outcome does not allow us to recover our costs for important investments made in our infrastructure, and it appears the order is not supportive of the Company making the necessary investments that will allow Avista to continue to provide safe, reliable service to our consumers,” said Scott Morris, chairman, president and chief executive officer of Avista Corp. “In addition, this outcome provides no ability for Avista to earn the Commission authorized allowed return on equity or a fair return for our shareholders. The Commission’s decision will likely raise serious concerns from financial stakeholders and the rating agencies regarding the level of support from the Washington jurisdiction.”
The Company plans to pursue all accessible remedies toward a reasonable end result. If the Commission’s order stands as-is, it could result in a reduction to Avista’s earnings opportunity for 2017 in the range of $0.20 to $0.30 per share. The magnitude of this impact would provide Avista with no ability to earn its 9.5% authorized return on equity during 2017.
Moving forward to saw long-term intention, the experts calculate Return on Investment of 5.70%. The stock is going forward its fifty-two week low with 23.02% and lagging behind from its 52-week high price with -8.31%. AVA last month stock price volatility remained 2.00%.