Cognizant Technology Stock Hits New 52-Week High (CTSH)

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.

NEW YORK ( TheStreet) -- Cognizant Technology Solutions Corporation (Nasdaq: CTSH) hit a new 52-week high Friday as it is currently trading at $78.01, above its previous 52-week high of $78 with 552,913 shares traded as of 9:40 a.m. ET. Average volume has been 2.4 million shares over the past 30 days.

Cognizant Technology has a market cap of $22.34 billion and is part of the technology sector and computer software & services industry. Shares are up 0.7% year to date as of the close of trading on Thursday.

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 22.5, above the S&P 500 P/E ratio of 17.7.

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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, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Cognizant Technology Ratings Report.

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