KeyBanc Believes Cognizant (NASDAQ: CTSH) Won’t Stop Here

By Carrie Williams

KeyBanc analyst Arvind Ramnani reiterated a Buy rating on Cognizant (NASDAQ: CTSH) on October 8 and set a price target of $79. The company’s shares opened today at $73.74, close to its 52-week high of $74.47.

According to TipRanks.com, Ramnani is a 5-star analyst with an average return of 17.9% and a 96.1% success rate. Ramnani covers the Technology sector, focusing on stocks such as Fidelity National Info, DXC Technology Company, and Computer Sciences.

Currently, the analyst consensus on Cognizant is Strong Buy and the average price target is $80, representing an 8.5% upside.

In a report issued on October 4, BMO Capital also reiterated a Buy rating on the stock with a $76 price target.

Based on Cognizant’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $3.67 billion and quarterly net profit of $470 million. In comparison, last year the company earned revenue of $3.45 billion and had a net profit of $444 million.

Based on the recent corporate insider activity of 190 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2017, John E. Klein, a Director at CTSH sold 11,560 shares for a total of $830,702.

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 segments: Financial Services, Healthcare, Manufacturing, Retail and Logistics, and Other.