Cognizant Technology Solutions Corporation

(

CTSH

) pushed the Technology sector lower today making it today's featured Technology loser. The sector as a whole closed the day down 1.4%. By the end of trading, Cognizant Technology Solutions Corporation fell $2.14 (-3.5%) to $58.86 on average volume. Throughout the day, 4.3 million shares of Cognizant Technology Solutions Corporation exchanged hands as compared to its average daily volume of 3.2 million shares. The stock ranged in price between $58.11-$60.50 after having opened the day at $60.50 as compared to the previous trading day's close of $61. Other company's within the Technology sector that declined today were:

Microvision

(

MVIS

), down 26.3%,

Evolving Systems

(

EVOL

), down 22.1%,

Ubiquiti Networks

(

UBNT

), down 12.8%, and

Network Equipment Technologies

(

NWK

), down 12%.

Cognizant Technology Solutions Corporation provides information technology (IT), consulting, and business process outsourcing services in North America, Europe, and internationally. Cognizant Technology Solutions Corporation has a market cap of $18.27 billion and is part of the

computer software & services

industry. The company has a P/E ratio of 20.2, equal to the average computer software & services industry P/E ratio and above the S&P 500 P/E ratio of 17.7. Shares are down 6.7% year to date as of the close of trading on Tuesday. Currently there are 20 analysts that rate Cognizant Technology Solutions Corporation a buy, no analysts rate it a sell, and one rates it a hold.

TheStreet Ratings rates Cognizant Technology Solutions Corporation 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 good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.

On the positive front,

Hoku

(

HOKU

), up 59.2%,

Nortech Systems Incorporated

(

NSYS

), up 29.1%,

NCI

(

NCIT

), up 28.2%, and

Neonode

(

NEON

), up 28%, were all gainers within the technology sector with

Clearwire

(

CLWR

) being today's featured technology sector winner.

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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