On Friday, Cognizant Technology Solutions Corp (NASDAQ:CTSH) announced that Rajeev Mehta has been appointed President of the Company, replacing Gordon Coburn who resigned. Additionally, an internal investigation has launched, looking into payments in regards to particular facilities in India.

Though shares initially tumbled 13% in the midst of management changes and news of the internal investigation, William Blair analyst Anil Doradla remains positive on the company and reiterates an Outperform rating on CTSH without listing a price target.

From Doradla’s perspective, the stock faced an impact from concerned investors with up-in-the-air questions surrounding the investigation. Primarily, the analyst notes an overall enigma as to what role Gordon Coburn played in the controversy and if his tendered resignation correlates with the internal investigation. Additionally, investors had expectations for CTSH to affirm previous guidance, considering the press release entered the news the final day of the quarter.

The analyst asserts, “From our point of view, while we were surprised by the news, we believe the issue will not affect the day-to-day operations of the company and is not reflective of the company’s core operations or strategy. Furthermore, given that there were no questionable client related transactions, we believe this is a non-event regarding clients’ ability to do business with Cognizant. We believe the incident is likely tied to a few individuals and in no way institutionalized or part of corporate culture.”

Ultimately, “In our opinion, the Indian real estate market lacks the transparency that is typically seen in North America. Bottom line, we do not believe this incident reflects any larger cultural problems at Cognizant and believe that the decline in the stock is an overreaction, creating an interesting entry point for investors,” Doradla concludes.

According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, five-star analyst Anil Doradla is ranked #244 out of 4,197 analysts. Doradla has a 68% success rate and earns 16.3% in his annual returns. When recommending CTSH, Doradla gains 16.7% in average profits on the stock.

TipRanks analytics demonstrate CTSH as a Buy. Based on 18 analysts polled in the last 3 months, 12 rate a Buy on CTSH, 5 maintain a Hold, while 1 issues a Sell. The consensus price target stands at $64.93, marking a 36% upside from where the stock is currently trading.