William Blair analyst Maggie Nolan has maintained their neutral stance on CTSH stock, giving a Hold rating yesterday.
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Maggie Nolan’s rating is based on Cognizant’s recent financial performance and strategic initiatives. The company reported strong second-quarter results, surpassing market expectations in both revenue and earnings per share. This positive performance was driven by significant growth in bookings and successful execution of large deals, particularly in the healthcare and communications sectors.
Despite these achievements, the guidance for the third quarter suggests that organic growth will remain relatively stable, indicating limited acceleration. Additionally, while the company has increased its shareholder returns and shown progress in reducing attrition rates, these factors may not be sufficient to warrant a more aggressive rating. Therefore, the combination of solid performance and cautious future outlook has led Maggie Nolan to maintain a Hold rating on Cognizant’s stock.
In another report released yesterday, Mizuho Securities also reiterated a Hold rating on the stock with a $88.00 price target.