10 Cheap IT Stocks Hedge Funds Are Buying

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1. Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Forward P/E Ratio as of July 9: 15.8

Number of Hedge Fund Holders: 49

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is one of the cheap IT stocks hedge funds are buying. On July 1, Cognizant was acknowledged as one of the initial organizations to sign the White House’s “Pledge to America’s Youth: Investing in Artificial Intelligence/AI Education.”

Cognizant joined a group of 60+ prominent US organizations that have committed to supporting America’s youth and investing in AI education through this pledge. Working in collaboration with the White House Task Force on AI Education, the organizations involved in this initiative aim to make AI education accessible to K-12 students throughout the US.

The commitments made by these 60+ companies involve providing resources for youth and teachers over the next 4 years. Through its global upskilling initiative, called Synapse, Cognizant aims to train 1 million individuals in advanced technologies such as AI by 2026.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is a professional services company that provides consulting & technology, and outsourcing services internationally.

While we acknowledge the potential of CTSH to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CTSH and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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