Argus Downgrades Cognizant Technology Solutions (CTSH) to Hold

September 30, 2016 1:30 PM EDT
Get Alerts CTSH Hot Sheet
Price: $51.57 +0.53%

Rating Summary:
    21 Buy, 11 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 50 | New: 20
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Argus downgraded Cognizant Technology Solutions (NASDAQ: CTSH) from Buy to Hold after the resignation of the company’s president amid a corruption investigation in India.

"Given that a top executive has resigned, however, we see risks that the illegal practices could be extensive and long-lived. Additional agencies such as DoJ and SEC could conduct investigations of their own, and this matter could overhang the CTSH shares of a significant amount of time," the analyst said.

For an analyst ratings summary and ratings history on Cognizant Technology Solutions click here. For more ratings news on Cognizant Technology Solutions click here.

Shares of Cognizant Technology Solutions closed at $55.00 yesterday.

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