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Plenty of Upside for Cognizant Shareholders

A value-enhancement plan rolled out by hedge fund Elliott Management could lift shareholder returns for the market-leading IT services firm.

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Andrew Lange: Recently, our best idea, Cognizant, received a letter from hedge fund Elliott Management outlining the hedge fund's conviction in the value opportunity at the IT services firm.

Elliott, which disclosed that it owns over 4% of the company, believes Cognizant can achieve a valuation of $80-$90 or more per share by the end of 2017, and the hedge fund outlined its value-enhancement plan with which to achieve this goal.

Andrew Lange does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.