5 Stocks Pushing The Technology Sector Higher

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

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 59 points (0.4%) at 13,940 as of Friday, Feb. 22, 2013, 11:49 AM ET. The NYSE advances/declines ratio sits at 1,920 issues advancing vs. 903 declining with 157 unchanged.

The Technology sector currently sits up 0.8% versus the S&P 500, which is up 0.5%. Top gainers within the sector include Aruba Networks ( ARUN), up 21.3%, Texas Instruments ( TXN), up 4.8%, Infosys ( INFY), up 4.2%, Wipro ( WIT), up 3.4% and Tim Holding Company ( TSU), up 3.4%. On the negative front, top decliners within the sector include Equinix ( EQIX), down 3.0%, and Nippon Telegraph & Telephone ( NTT), down 1.6%.

TheStreet Ratings group would like to highlight 5 stocks pushing the sector higher today:

5. Cognizant Technology Solutions Corporation ( CTSH) is one of the companies pushing the Technology sector higher today. As of noon trading, Cognizant Technology Solutions Corporation is up $0.84 (1.1%) to $76.01 on light volume Thus far, 516,386 shares of Cognizant Technology Solutions Corporation exchanged hands as compared to its average daily volume of 2.2 million shares. The stock has ranged in price between $75.40-$76.08 after having opened the day at $75.48 as compared to the previous trading day's close of $75.17.

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 $23.1 billion and is part of the computer software & services industry. The company has a P/E ratio of 20.8, above the S&P 500 P/E ratio of 17.7. Shares are up 4.3% year to date as of the close of trading on Thursday. Currently there are 20 analysts that rate Cognizant Technology Solutions Corporation a buy, no analysts rate it a sell, and 1 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 increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Cognizant Technology Solutions Corporation Ratings Report now.

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