Morgan Stanley Sticks to Its Hold Rating for Cognizant (CTSH)

Morgan Stanley analyst James Faucette maintained a Hold rating on Cognizant (CTSHResearch Report) today and set a price target of $65.00. The company’s shares closed last Thursday at $66.81, close to its 52-week low of $63.26.

According to TipRanks.com, Faucette is a 5-star analyst with an average return of 10.2% and a 70.0% success rate. Faucette covers the Technology sector, focusing on stocks such as Clearwater Analytics Holdings, SS&C Technologies Holdings, and Automatic Data Processing.

Cognizant has an analyst consensus of Moderate Buy, with a price target consensus of $79.53, implying a 22.3% upside from current levels. In a report released today, J.P. Morgan also downgraded the stock to Hold with a $77.00 price target.

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Cognizant’s market cap is currently $36.64B and has a P/E ratio of 16.85.

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.

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.

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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