Cognizant Stock Rating Reaffirmed by JPMorgan Chase (CTSH)
“Late last week, we hosted meetings with Cognizant’s VP, IR and Treasury, David Nelson. The overall message was consistent and generally positive, recognizing CTSH’s guidance is prudently conservative as 1) it does not want to repeat last year’s disappointing guidance cut, 2) it expects modest growth in its healthcare vertical (payers and pharma) this year, and 3) ramp rates in the BFS vertical are still uncertain. We see upside assuming CTSH maintains its investment premium over peers to drive attractive long-term premium growth.,” JPMorgan Chase’s analyst wrote.
A number of other analysts have also recently weighed in on CTSH. Analysts at Pacific Crest downgraded shares of Cognizant from an outperform rating to a sector perform rating in a research note to investors on Monday. They now have a $83.00 price target on the stock. Separately, analysts at TheStreet reiterated a buy rating on shares of Cognizant in a research note to investors on Friday, March 1st. Finally, analysts at Zacks reiterated a neutral rating on shares of Cognizant in a research note to investors on Tuesday, February 12th. They now have a $81.00 price target on the stock.
Twenty-one investment analysts have rated the stock with a buy rating, three have given an overweight rating, and five have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of buy and a consensus target price of $83.79.
Shares of Cognizant opened at 79.015 on Monday. Cognizant has a 52 week low of $53.92 and a 52 week high of $81.08. The stock’s 50-day moving average is currently $77.8. The company has a market cap of $23.845 billion and a P/E ratio of 22.97.
Cognizant Technology Solutions Corporation (Cognizant) is a provider of custom information technology, consulting and business process outsourcing services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.