New Buy Rating for Cognizant (CTSH), the Technology Giant

Wells Fargo analyst Jason Kupferberg maintained a Buy rating on Cognizant today and set a price target of $83.00.

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

In addition to Wells Fargo, Cognizant also received a Buy from Jefferies’s Surinder Thind in a report issued on June 15. However, on June 16, Berenberg Bank downgraded Cognizant (NASDAQ: CTSH) to a Hold.

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.