Cognizant Technology Rises On Unusually High Volume (CTSH)
Cognizant Technology Solutions Corporation (Nasdaq:CTSH) is trading at unusually high volume Tuesday with 5.3 million shares changing hands. It is currently at two times its average daily volume and trading up $1.83 (+2.9%).
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) is trading at unusually high volume Tuesday with 5.3 million shares changing hands. It is currently at two times its average daily volume and trading up $1.83 (+2.9%) at $64.76 as of 2:10 p.m. ET.
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Cognizant Technology has a market cap of $18.56 billion and is part of the technology sector and computer software & services industry. Shares are down 17% year to date as of the close of trading on Monday. Cognizant Technology Solutions Corporation provides information technology (IT), consulting, and business process outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Manufacturing, Retail, and Logistics; and Other. The company has a P/E ratio of 17.8, 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, reasonable valuation levels, impressive record of earnings per share growth and compelling growth in net income. 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. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Exclusive Offer: Jim Cramer's 'go-to' small/mid-cap guru Bryan Ashenberg only buys stocks he thinks could return 50-100% See his top picks for 14-days FREE.