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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…
