Cognizant Technology Rises On Unusually High Volume (CTSH)
NEW YORK (TheStreet) -- Cognizant Technology Solutions Corporation (Nasdaq:CTSH) is trading at unusually high volume Tuesday with 8.6 million shares changing hands. It is currently at four times its average daily volume and trading up $2.36 (+4.2%) at $58.66 as of 12:10 p.m. ET. Cognizant Technology has a market cap of $21.21 billion and is part of the technology sector and computer software & services industry. Shares are up 8.3% year to date as of the close of trading on Monday. Cognizant Technology Solutions Corporation provides information technology (IT), consulting, and business process outsourcing services in North America, Europe, and internationally. The company has a P/E ratio of 24.4, equal to the average computer software & services industry P/E ratio and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Cognizant Technology as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Cognizant Technology Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.
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