Cognizant Technology: S&P Intraday Gainer

NEW YORK ( TheStreet) - Cognizant Technology Solutions ( CTSH) was the best-performing stock in the S&P 500 on Tuesday morning.

The S&P 500 was down nearly 13 points, or 0.93%, to 1357 in recent trades.

Shares of Cognizant Technology Solutions were up 5.8% to $59.55 after Robert Baird upgraded the stock to outperform.

On Monday, Cognizant reported first-quarter earnings that met analysts' expectations but lowered its full-year outlook. The Teaneck, N.J.-based consultant now sees earnings of $3.36 a share on revenue of $7.34 billion in fiscal 2012, down from a prior projection for a profit of $3.43 a share on revenue of $7.53 billion.

Cognizant's stock trades at an estimated price-to-earnings ratio for next year of 14.31 times; the average for computer services companies is 44.28X. For comparison, Teradata ( TDC) has a higher forward P/E of 22.94X.

Twenty-five of the 29 analysts who cover Cognizant rate it at buy. Three analysts give the stock a hold rating and one rates it at sell.

The stock has fallen 7.17% year to date.

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

-- Written by Alexandra Zendrian in New York.

>To contact the writer of this article, click here: Alexandra Zendrian

>To submit a news tip, send an email to:

>To follow the writer on Twitter, go to Alexandra Zendrian.

If you liked this article you might like

Novice Trade: UVXY

Gold Prices Have Just Formed a Classic Technical Pattern That Hints Even Higher Prices Are Coming

7 of 11 S&P Sector ETFs Set Post-Election Highs, While Energy Sets Post-Election Low

The Stock Market Has Been Amazingly Resilient -- Check Out These 10 Charts