Reported 2 days ago
Activist investor Mantle Ridge has purchased a stake worth over $1 billion in Cognizant Technology, citing undervalued shares. Following the acquisition, Cognizant's stock rose over 5% in after-hours trading. Mantle Ridge, which began buying shares in late 2022, has been privately communicating with Cognizant about improving stock performance, yet does not plan to nominate any directors to the board.
Source: YAHOO