Cognizant Technology: A Growth Stock With A Lot Of Potential
- Cognizant Technology is one of the fastest growing IT service companies in the U.S. with an expected revenue growth of 16.5% in 2014.
- Gartner forecasted that the worldwide IT spending will grow 2.1% in 2014 and around 3% each year for the next four years.
- Cognizant has a growing client base due to the increasing demand in its IT and consulting services.
- The stock is likely undervalued. I have estimated the company's fair intrinsic value to be around $36 billion in market cap or $58 per share.