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CTSH

Cognizant

$53.25

1.39 (2.68%)

08:34
11/28/16
11/28
08:34
11/28/16
08:34

Elliott sends letter to Cognizant board outlining Value-Enhancement Plan

Elliott Management, which manages funds that collectively beneficially own more than 4% of the common stock and equivalents of Cognizant Technology Solutions Corporation, sent a letter to the Board and Management of Cognizant outlining a three-part Value-Enhancement Plan. With a position of approximately $1.4B, Elliott ranks among the company's largest shareholders. According to the letter, Cognizant can achieve a value of $80-$90+ per share by the end of 2017 by implementing the Value-Enhancement Plan, representing upside of 50% to 69% in just over a year. Elliott also requested a near-term meeting with the Board to share additional diligence and further thoughts. Elliott comments, "Elliott looks forward to working collaboratively with Frank, John and the entire Cognizant team, and we respectfully request a near-term meeting with the Board to further share our thoughts about this clear and compelling opportunity."

  • 28

    Nov

CTSH Cognizant
$53.25

1.39 (2.68%)

10/31/16
KEYB
10/31/16
NO CHANGE
KEYB
Cognizant should report upbeat earnings, says KeyBanc
KeyBanc says that Cognizant can increase investor confidence by "clarifying the impact from potential FCPA violations and President Gordon Coburn's abrupt departure." The firm thinks that the company's negative comments and lowered guidance are priced into the stock at current levels. It believes that the set-up for the company heading into its Q3 results is positive. The firm reiterates a $67 price target and an Overweight rating on the shares.
11/22/16
BOFA
11/22/16
DOWNGRADE
BOFA
Underperform
Cognizant downgraded two notches to Underperform at BofA/Merrill
BofA/Merrill analyst David Ridley-Lane downgraded Cognizant two notches to Underperform from Buy and lowered its price target to $48 from $66. The analyst sees risks from potential immigration reform under a Trump administration and a slower growth profile. Further, Ridley-Lane said revenue growth at Cognizant's largest customers has stalled and views a reacceleration of growth in 2017 as unlikely.
11/23/16
WBLR
11/23/16
DOWNGRADE
WBLR
Market Perform
Cognizant downgraded to Market Perform from Outperform at William Blair
William Blair analyst Anil Doradla downgraded Cognizant Technology Solutions to Market Perform.
11/23/16
WBLR
11/23/16
DOWNGRADE
WBLR
Market Perform
Cognizant downgraded to Market Perform from Outperform at William Blair
William Blair analyst Anil Doradla downgraded Cognizant Technology Solutions to Market Perform from Outperform. After visiting India, the analyst is concerned that Cognizant will be affected by structural changes within the services industry. The newest headwind to the industry is related to the potential policy changes under President-elect Trump, Doradla tells investors in a research note. Further, the analyst is disappointed by the company's lack of capital returns to shareholders. He also expects Cognizant's growth will continue decelerating from 2016 through 2018. In pre-market trading, the shares are down 53c to $52.65.

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