From Nasdaq: 2024-11-25 10:59:00

Cognizant Technology Solutions (CTSH) shares have risen 6.1% in the past month, outperforming the industry and sector. The company reported impressive third-quarter 2024 financial results with revenues of $5 billion, driven by strong demand in health sciences and financial services sectors.

CTSH signed six large deals exceeding $100 million each in the third quarter. Partnerships with NVIDIA, Service Now, and Palo Alto Networks have been key. CTSH’s focus on AI and automation, with a $1 billion investment, is driving growth and innovation in the digital landscape.

CTSH expects fourth-quarter 2024 revenues between $5-5.1 billion, with full-year revenues projected between $19.7-19.8 billion. Acquisitions, like Belcan, have contributed to revenue growth. The company’s forward Price/Sales ratio is lower than the industry average, reflecting potential value for investors.

Zacks’ Research Chief highlights a top stock with potential to double, emphasizing its innovative solutions and growing customer base. This stock, within the financial sector, is poised for significant gains. Download the report for more insights and recommendations from Zacks Investment Research.



Read more at Nasdaq: Cognizant Gains 6% in the Past Month: Should Investors Buy the Stock?