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.
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A number of Cognizant Technology Solutions Corporation 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 having further room to invest as long as SG&A and outsourcing are allowed.
Cognizant Technology Solutions Corporation is a multinational IT services company that helps businesses modernize via digital technology.
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This article is originally published at Insider Monkey.
