Cognizant Receives a Buy from Oppenheimer

By Austin Angelo

In a report released yesterday, Glenn Greene from Oppenheimer assigned a Buy rating to Cognizant (NASDAQ: CTSH), with a price target of $68. The company’s shares closed yesterday at $51.41.

According to TipRanks.com, Greene is a top 25 analyst with an average return of 18.4% and a 77.6% success rate. Greene covers the Technology sector, focusing on stocks such as Black Knight Financial Services, Automatic Data Processing, and Jack Henry & Associates.

Cognizant has an analyst consensus of Moderate Buy, with a price target consensus of $63.83.

The company has a one year high of $69.23 and a one year low of $45.44. Currently, Cognizant has an average volume of 5.44M.

Based on the recent corporate insider activity of 167 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 August 2016, John Nelson Fox, a Director at CTSH bought 500 shares for a total of $7,940.

Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following segments: Financial Services, Healthcare, Manufacturing, Retail and Logistics, and Other. The Financial Services segment involves in customers providing banking/transaction processing, capital markets, and insurance services. The Healthcare segment offers healthcare providers and payers as well as life sciences customers. The Manufacturing, Retail and Logistics segment comprises of manufacturers, retailers, and customers providing logistics services. The Other segment includes communications, information, media and entertainment, and high technology. The company was founded by Wijeyaraj Kumar Mahadeva and Francisco D’Souza in 1994 and is headquartered in Teaneck, NJ.