Recently analysts announced that projections for prices of Cognizant Technology Solutions, an IT consulting firm would be $79, up from $76. The IT consulting firm is currently trading at a 31% discount to its three-year growth rate. This price contrasts to the company’s 20% premiums. Recently Cognizant’s stock price declined because of weakness in the Indian stock market and also in American depository receipts of IT services companies in India.
The Teaneck, NJ based IT consulting firm has employees mostly based in India, and is currently favored in the sector by many analysts. Experts state that Cognizant Technology Solutions’ great growth rate, strong margins and other qualities that put it above many of its IT consulting peers.
Many of Cognizant Technology’s IT consulting competitors have had margins that struggled due to wage inflation and problems with company structure, but Cognizant decided to reinvest in its business and organization leaving it better off than others to gain momentum in the next three years. Cognizant Technology is a leading provider in the ever-growing offshoring market.
Other top picks in the IT consulting world by analysts included Accenture and Wright Express.
Blogged By: Computer Consulting 101 Professional Kit