In a report released today, Rishit Parikh from Nomura maintained a Hold rating on Cognizant (CTSH), with a price target of $68.00. The company’s shares closed last Thursday at $68.46, close to its 52-week high of $71.48.
According to TipRanks.com, Parikh is ranked #5725 out of 6831 analysts.
Currently, the analyst consensus on Cognizant is a Moderate Buy with an average price target of $65.97, which is a -4.3% downside from current levels. In a report released today, J.P. Morgan also upgraded the stock to Hold with a $69.00 price target.
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Based on Cognizant’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $4.23 billion and net profit of $367 million. In comparison, last year the company earned revenue of $4.11 billion and had a net profit of $441 million.
Based on the recent corporate insider activity of 163 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. Last month, Michael Patsalos-Fox, a Director at CTSH bought 11,560 shares for a total of $374,660.
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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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