Jefferies Maintains Cognizant Technology Buy, $87 PT

Jefferies maintained its Cognizant Technologies (NASDAQ: CTSH) Buy rating and $87 price target in a research report published today.

In the report, Jefferies states, "Over time, we believe CTSH's industry-leading growth and very consistent execution have enabled the company to separate itself from the rest of the Tier 1 vendors in this space. Since the downturn, we believe CTSH has taken share due to the strength of its client relationships, attributable to CTSH's long-standing strategy of re-investing excess margin in sales resources."

Shares of Cognizant Technologies closed today at $71.23, up 1.87% from Wednesday's market close.