Cognizant Received its Third Buy in a RowBy Ryan Adsit
After Jefferies and Oppenheimer assigned a Buy rating to Cognizant in the last month, the company received another Buy, this time from Barclays. Analyst Darrin Peller reiterated a Buy rating on Cognizant (NASDAQ: CTSH) today and set a price target of $62. The company’s shares opened today at $54.75.
According to TipRanks.com, Peller is a 5-star analyst with an average return of 11.0% and a 69.1% success rate. Peller covers the Technology sector, focusing on stocks such as Broadridge Financial Solutions Llc, Fidelity National Info, and Computer Sciences.
Currently, the analyst consensus on Cognizant is Moderate Buy and the average price target is $63.91, representing a 16.7% upside.
In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $68 price target.
Cognizant’s market cap is currently $33.25B and has a P/E ratio of 22.17. The company has a book value ratio of 3.3712.
Based on the recent corporate insider activity of 169 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.