Outsourcer Cognizant looks cheap - Barron's
NEW YORK, Sept 7 (Reuters) - Cognizant Technology Solutions (CTSH.O), a large outsourcer to financial companies, has seen its share price drop sharply -- but this may present a buying opportunity, the Barron's business weekly reported in its Sept. 8 edition.
Shares in Cognizant have fallen 20 percent to $28 this year and the firm has reduced its outlook, noting its reliance on the financial sector for 45 percent of its revenues, the publication said.
But the price drop may be an opportunity for a long-term investment, Barron's said.
The company is diversifying its businesses and posting top-line growth, the weekly said.
"We're growing faster than our competitors, and there's still lots of room for growth," Cognizant's Chief Financial Officer Gordon Coburn told Barron's. (Reporting by Elinor Comlay, editing by Leslie Gevirtz)
