Cognizant’s activist investor Mantle Ridge builds over a $1 billion stake

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US-headquartered IT giant Cognizant Technology Solutions’ activist investor Mantle Ridge’s stake in the company has risen to worth more than $1 billion in the company, the Wall Street Journal reported.

The activist firm, which says that its shares are undervalued, has been privately engaging with Cognizant about its progress on boosting the share price, the report said, citing people familiar with the matter.

Cognizant’s shares rose over 5% on Friday to close at $83.23 apiece. In the last one year, the share price has risen around 7.4% with its…



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Cognizant’s activist investor Mantle Ridge builds over a $1 billion stake


US-headquartered IT giant Cognizant Technology Solutions’ activist investor Mantle Ridge’s stake in the company has risen to worth more than $1 billion in the company, the Wall Street Journal reported.

The activist firm, which says that its shares are undervalued, has been privately engaging with Cognizant about its progress on boosting the share price, the report said, citing people familiar with the matter.

Cognizant’s shares rose over 5% on Friday to close at $83.23 apiece. In the last one year, the share price has risen around 7.4% with its…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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