Cognizant (CTSH) Tops Q2 EPS by 2c
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August 3, 2017 12:56 PM EDT
Needham & Company raised its price target on Cognizant Technology Solutions (NASDAQ: CTSH) to $78.00 (from $72.00) while maintaining a Buy rating following "solid" Q2 results.
Analyst Mayank Tandon commented, "CTSH posted solid 2Q results, beating consensus on revenue, margins, and earnings. Growth in... More
August 3, 2017 6:17 AM EDT
By Rishika Sadam
(Reuters) - Cognizant Technology Solutions Corp raised the lower end of its 2017 revenue forecast, easing concerns of tighter spending from its healthcare clients amid uncertainty surrounding the U.S. healthcare policy.
The healthcare sector's worry has been taking a toll on IT services providers lately, forcing them to give bleak forecasts.
The Republican quest to scrap Obamacare, a major campaign vow by U.S. President Donald Trump, failed last week, after the Senate failed to dismantle the healthcare law.
Cognizant gets a large chunk of its revenue from financial services and healthcare... More
