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Catamaran Corp (CTRX): Today's Featured Technology Laggard

Catamaran ( CTRX) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole was unchanged today. By the end of trading, Catamaran fell $2.14 (-2.3%) to $90.66 on average volume. Throughout the day, 833,019 shares of Catamaran exchanged hands as compared to its average daily volume of 1.1 million shares. The stock ranged in price between $89.19-$92.40 after having opened the day at $91.97 as compared to the previous trading day's close of $92.80. Other companies within the Technology sector that declined today were: Ubiquiti Networks ( UBNT), down 42%, Kingtone Wirelessinfo Solution ( KONE), down 29.3%, Digital Generation ( DGIT), down 16.8%, and Spire Corporation ( SPIR), down 15.4%.

Catamaran Corporation provides pharmacy benefit management (PBM) services and healthcare information technology solutions to the healthcare benefits management industry in North America. Catamaran has a market cap of $9.44 billion and is part of the computer software & services industry. The company has a P/E ratio of 55.8, above the average computer software & services industry P/E ratio of 55.5 and above the S&P 500 P/E ratio of 17.7. Shares are up 63.1% year to date as of the close of trading on Thursday. Currently there are 13 analysts that rate Catamaran a buy, no analysts rate it a sell, and six rate it a hold.

TheStreet Ratings rates Catamaran 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, good cash flow from operations, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

On the positive front, Imperva ( IMPV), up 26.4%, Bottomline Technologies ( EPAY), up 20.1%, eMagin Corporation ( EMAN), up 17.3%, and inContact ( SAAS), up 14.7%, were all gainers within the technology sector with Check Point Software Technologies ( CHKP) being today's featured technology sector leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

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