14 Most Undervalued NASDAQ Stocks to Buy Now

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8. Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Forward P/E Ratio as of September 20: 12.11

Number of Hedge Fund Holders: 47

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) ranks among the most undervalued NASDAQ stocks to buy now. On September 16, Ambit Capital reduced its price target for Cognizant Technology Solutions Corporation (NASDAQ:CTSH) from $84 to $82 while upgrading the company from Sell to Buy. After losing in important sectors like BFSI and Healthcare, which account for 60% of its revenue, Ambit states that the company’s performance is now comparable to or better than its tier-1 peers, which also highlighted Cognizant’s improving growth trajectory.

A number of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) operational gains were highlighted by Ambit Capital, including attrition rates that are now on par with peers, increased offshoring, decreased client attrition, improved capabilities in SaaS and ER&D, and improved operational efficiencies.

Ambit Capital hinted at Cognizant Technology Solutions Corporation (NASDAQ:CTSH) having further room to invest as long as SG&A and outsourcing are allowed.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is a multinational IT services company that helps businesses modernize via digital technology.

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