In a report released yesterday, Edward Caso from Wells Fargo maintained a Buy rating on Cognizant (CTSH). The company’s shares closed last Wednesday at $64.79.
According to TipRanks.com, Caso is a 4-star analyst with an average return of 7.7% and a 64.7% success rate. Caso covers the Technology sector, focusing on stocks such as International Business Machines, DXC Technology Company, and Science Applications.
The word on The Street in general, suggests a Hold analyst consensus rating for Cognizant with a $62.83 average price target, representing a -0.4% downside. In a report issued on July 15, BMO Capital also upgraded the stock to Buy with a $70.00 price target.
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Cognizant’s market cap is currently $33.86B and has a P/E ratio of 19.90. The company has a Price to Book ratio of 6.13.
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.
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.
