Wells Fargo Reaffirms Their Buy Rating on Cognizant (CTSH)

In a report released on June 15, Jason Kupferberg from Wells Fargo maintained a Buy rating on Cognizant, with a price target of $83.00. The company’s shares closed yesterday at $50.82.

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According to TipRanks, Kupferberg is an analyst with an average return of -8.8% and a 42.30% success rate. Kupferberg covers the Technology sector, focusing on stocks such as Globant SA, Automatic Data Processing, and Block.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cognizant with a $70.18 average price target, which is a 38.10% upside from current levels. In a report released on June 15, Jefferies also maintained a Buy rating on the stock with a $65.00 price target.

Based on Cognizant’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $5.41 billion and a net profit of $662 million. In comparison, last year the company earned a revenue of $5.12 billion and had a net profit of $663 million

Based on the recent corporate insider activity of 118 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. Earlier this month, Stephen Rohleder, a Director at CTSH bought 4,034.00 shares for a total of $209,768.00.