BMO Capital Believes Cognizant (CTSH) Won’t Stop Here

BMO Capital analyst Keith Bachman maintained a Buy rating on Cognizant (CTSH) today and set a price target of $82.00. The company’s shares closed last Thursday at $71.54, close to its 52-week high of $75.32.

According to, Bachman is a 5-star analyst with an average return of 17.7% and a 67.1% success rate. Bachman covers the Technology sector, focusing on stocks such as International Business Machines, DXC Technology Company, and Cornerstone Ondemand.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cognizant with a $77.92 average price target, a 4.1% upside from current levels. In a report released today, Cowen & Co. also upgraded the stock to Buy with a $85.00 price target.

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Based on Cognizant’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $4 billion and net profit of $361 million. In comparison, last year the company earned revenue of $4.14 billion and had a net profit of $509 million.

Based on the recent corporate insider activity of 160 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CTSH in relation to earlier this year.

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Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services; Healthcare; Products and Resources; and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services. The Healthcare segment involves healthcare and life sciences. The Products and Resources segment comprises of retail and consumer goods, manufacturing and logistics, travel and hospitality, and energy and utilities. The Communications, Media, and Technology segment includes communications, information, media and entertainment, and technology. The company was founded by Wijeyaraj Kumar Mahadeva and Francisco D’Souza in 1994 and is headquartered in Teaneck, NJ.

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