On July 30, Cognizant Technology Solutions Corp declined 5.02% in regular trading, trading at $52.01/share, with turnover of $152 million. The stock had surged over 10% the prior session following its Q2 earnings release but quickly reversed course.

On the news front, Goldman Sachs cut its price target on CTSH to $70 from $75, while Susquehanna lowered its target to $82 from $88. Management noted that while declining AI inference costs are creating industry opportunities in application-layer services including business governance and process restructuring, these have not yet materialized in bookings or financial results. The company also flagged elevated short interest, with funds adjusting positions in AI-related IT services trades.

The broader IT Consulting and Services sector saw widespread selling pressure. Among peers, IBM fell 2.16%, Accenture dropped 7.43%, Gartner declined 9.64%, Infosys fell 5.13%, and EPAM Systems lost 6.10%, reflecting broad-based weakness across the group.

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