Needham Keeps Their Hold Rating on Cognizant (CTSH)


In a report released today, Mayank Tandon from Needham maintained a Hold rating on Cognizant (CTSH). The company’s shares closed last Wednesday at $79.34, close to its 52-week high of $82.73.

According to TipRanks.com, Tandon is a top 100 analyst with an average return of 25.7% and a 71.5% success rate. Tandon covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Bottomline Technologies, and Duck Creek Technologies.

Currently, the analyst consensus on Cognizant is a Moderate Buy with an average price target of $86.17, which is a 8.0% upside from current levels. In a report issued on January 25, Oppenheimer also initiated coverage with a Hold rating on the stock.

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Based on Cognizant’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $4.24 billion and net profit of $348 million. In comparison, last year the company earned revenue of $4.25 billion and had a net profit of $497 million.

Based on the recent corporate insider activity of 121 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CTSH in relation to earlier this year. Most recently, in November 2020, Maureen Breakiron-Evans, a Director at CTSH bought 8,467 shares for a total of $410,650.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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