Cognizant Technology Higher After Mixed Q4 Report

Cognizant Technology Solutions Corp CTSH shares are trading higher by $2.00 (4 percent) at $55.79 in Wednesday's session.

The Street is placing more emphasis on its Q4 EPS beat of a penny as opposed to its slight revenue miss. The company offered mixed guidance for Q1, forecasting EPS to be within a few pennies of Wall Street estimates.

After a higher open, the issue peaked early in the session at $57.49 and reversed course. That high is just shy of a pair of highs from January 25 ($57.57) and January 26 ($57.68). The ensuing decline has found support ahead of the top of Tuesday's range ($54.17), only reaching $54.75.

Since making that low, it rebounded back to the $56.00 area.