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CTSH

Cognizant

$53.25

1.39 (2.68%)

14:21
11/28/16
11/28
14:21
11/28/16
14:21

Cognizant reports 'introductory' talk with Elliott, to respond 'in due course'

Cognizant Technology Solutions issued the following statement in response to the open letter issued by Elliott Management: "Cognizant welcomes open communications with all of its shareholders and values their input. The Cognizant Board of Directors and management team regularly review the Company's strategic priorities and opportunities towards the goal of enhancing value for all shareholders. Cognizant had an introductory discussion with Elliott upon receipt of the letter this morning. The Company intends to review the letter carefully and will respond in due course."

  • 28

    Nov

CTSH Cognizant
$53.25

1.39 (2.68%)

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.
11/28/16
RHCO
11/28/16
NO CHANGE
RHCO
Hold
Cognizant small dividend seems achievable, says SunTrust
After Elliott Management disclosed a $1.4B position and released a letter to Cognizant Technology Solutions, SunTrust analyst Frank Atkins says he believes the company's major issue is not on the margin side but declining top line growth rates. A small dividend, as Elliott suggested, seems achievable and may fit with slightly lower top line trajectory going forward, Atkins tells investors in a research note. He continues to believe a Trump administration creates uncertainty and keeps a Hold rating on shares of Cognizant.

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