Cognizant Technology Stock Gaps Up On Today's Open (CTSH)

NEW YORK ( TheStreet) -- Shares of Cognizant Technology Solutions Corporation (Nasdaq: CTSH) were gapping up Monday morning with an open price 10.6% higher than Friday's closing price. The stock closed at $57.86 Friday and opened today's trading at $64.

The average volume for Cognizant Technology has been 3.6 million shares per day over the past 30 days. Cognizant Technology has a market cap of $17.14 billion and is part of the technology sector and computer software & services industry. Shares are down 12.5% year to date as of the close of trading on Friday.

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 18.9, 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 reasonable valuation levels. 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.

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