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

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

Catamaran (CTRX) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day up 0.7%. By the end of trading, Catamaran fell 85 cents (-1.5%) to $55.36 on average volume. Throughout the day, 2.1 million shares of Catamaran exchanged hands as compared to its average daily volume of 1.5 million shares. The stock ranged in price between $55.17-$56.68 after having opened the day at $56.68 as compared to the previous trading day's close of $56.21. Other companies within the Technology sector that declined today were: Glowpoint (GLOW), down 11.2%, Maxwell Technologies (MXWL), down 11.1%, AVG Technologies (AVG), down 10.7%, and Pulse Electronics (PULS), down 10.4%.

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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 $11.56 billion and is part of the computer software & services industry. The company has a P/E ratio of 80.4, above the S&P 500 P/E ratio of 17.7. Shares are up 19.4% year to date as of the close of trading on Thursday. Currently there are 12 analysts that rate Catamaran a buy, no analysts rate it a sell, and five 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, compelling growth in net income, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

On the positive front, BroadVision (BVSN), up 22%, Authentidate Holding Corporation (ADAT), up 17.6%, MeetMe (MEET), up 15.7%, and Immersion Corporation (IMMR), up 15.7%, were all gainers within the technology sector with TE Connectivity (TEL) 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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