Needham Assigns a Hold Rating on Cognizant (CTSH)

In a report released today, Mayank Tandon from Needham assigned a Hold rating to Cognizant (CTSH). The company’s shares closed last Wednesday at $71.10, close to its 52-week high of $75.32.

According to, Tandon is a 5-star analyst with an average return of 20.0% and a 63.7% success rate. Tandon covers the Technology sector, focusing on stocks such as Duck Creek Technologies, Inc., SS&C Technologies Holdings, and Bottomline Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cognizant with a $76.55 average price target, which is a 5.8% upside from current levels. In a report issued on October 22, Morgan Stanley also maintained a Hold rating on the stock with a $73.00 price target.

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Cognizant’s market cap is currently $38.55B and has a P/E ratio of 24.80. The company has a Price to Book ratio of 7.16.

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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