BMO Capital Thinks Cognizant’s Stock is Going to Recover

In a report released today, Keith Bachman from BMO Capital maintained a Buy rating on Cognizant (CTSHResearch Report), with a price target of $86.00. The company’s shares closed last Tuesday at $67.72, close to its 52-week low of $63.26.

According to TipRanks.com, Bachman is a 4-star analyst with an average return of 6.1% and a 54.7% success rate. Bachman covers the Technology sector, focusing on stocks such as International Business Machines, TELUS International (CDA), and Qualtrics International.

Currently, the analyst consensus on Cognizant is a Moderate Buy with an average price target of $82.62, implying a 21.8% upside from current levels. In a report issued on July 18, RBC Capital also maintained a Buy rating on the stock with a $97.00 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 $4.83 billion and net profit of $563 million. In comparison, last year the company earned revenue of $4.4 billion and had a net profit of $505 million.

Based on the recent corporate insider activity of 131 insiders, corporate insider sentiment is neutral on the stock. Most recently, in May 2022, Leo Mackay, a Director at CTSH bought 1,426 shares for a total of $85,032.

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Incorporated in 1994 and based in New Jersey, Cognizant Technology Solutions Corp. is a professional services company, which provides information technology, consulting, and business process outsourcing services. It operates through four business segments: Financial Services; Healthcare; Products and Resources; and Communications, Media, and Technology.

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