5 Stocks Boosting 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 down today with the Dow Jones Industrial Average ( ^DJI) trading down 62 points (-0.4%) at 14,778 as of Wednesday, May 1, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 958 issues advancing vs. 1,966 declining with 114 unchanged.

The Technology sector currently sits down 0.81 versus the S&P 500, which is down 0.42. Top gainers within the sector include BT Group ( BT), up 3.3%, and Oracle Corporation ( ORCL), up 2.2%. On the negative front, top decliners within the sector include SolarWinds ( SWI), down 10.78, America Movil S.A.B. de C.V ( AMOV), down 3.22, Wipro ( WIT), down 2.25, Cognizant Technology Solutions Corporation ( CTSH), down 1.44 and China Unicom (Hong Kong ( CHU), down 1.46.

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

5. Ultimate Software Group ( ULTI) is one of the companies pushing the Technology sector higher today. As of noon trading, Ultimate Software Group is up $12.01 (12.43) to $108.60 on heavy volume Thus far, 668,248 shares of Ultimate Software Group exchanged hands as compared to its average daily volume of 184,100 shares. The stock has ranged in price between $100.81-$113.35 after having opened the day at $103.90 as compared to the previous trading day's close of $96.59.

The Ultimate Software Group, Inc. designs, develops, and markets cloud-based human capital management software-as-a-service solutions to businesses across various industries in the United States and Canada. Ultimate Software Group has a market cap of $2.8 billion and is part of the internet industry. The company has a P/E ratio of 184.8, above the S&P 500 P/E ratio of 17.7. Shares are up 1.8% year to date as of the close of trading on Tuesday. Currently there are 4 analysts that rate Ultimate Software Group a buy, no analysts rate it a sell, and 12 rate it a hold.

TheStreet Ratings rates Ultimate Software Group as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, good cash flow from operations and solid stock price performance. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Ultimate Software Group Ratings Report now.

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4. As of noon trading, MetroPCS Communications ( PCS) is up $8.65 (111.02) to $16.44 on average volume Thus far, 5.3 million shares of MetroPCS Communications exchanged hands as compared to its average daily volume of 9.4 million shares. The stock has ranged in price between $16.01-$16.99 after having opened the day at $16.37 as compared to the previous trading day's close of $7.79.

MetroPCS Communications, Inc., a wireless telecommunications carrier, together with its subsidiaries, provides wireless broadband mobile services in the United States. MetroPCS Communications has a market cap of $4.4 billion and is part of the telecommunications industry. The company has a P/E ratio of 11.2, below the S&P 500 P/E ratio of 17.7. Shares are up 19.1% year to date as of the close of trading on Tuesday. Currently there are 5 analysts that rate MetroPCS Communications a buy, 2 analysts rate it a sell, and 11 rate it a hold.

TheStreet Ratings rates MetroPCS Communications as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, reasonable valuation levels, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. Get the full MetroPCS Communications Ratings Report now.

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3. As of noon trading, Salesforce.com ( CRM) is up $0.73 (1.78) to $41.84 on average volume Thus far, 3.6 million shares of Salesforce.com exchanged hands as compared to its average daily volume of 6.2 million shares. The stock has ranged in price between $41.12-$42.19 after having opened the day at $41.13 as compared to the previous trading day's close of $41.11.

salesforce.com, inc. provides enterprise cloud computing solutions to various businesses and industries worldwide. Salesforce.com has a market cap of $24.0 billion and is part of the computer software & services industry. Shares are down 2.2% year to date as of the close of trading on Tuesday. Currently there are 27 analysts that rate Salesforce.com a buy, 2 analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Salesforce.com as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and increase in stock price during the past year. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share. Get the full Salesforce.com Ratings Report now.

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2. As of noon trading, Qualcomm ( QCOM) is up $0.39 (0.63) to $61.99 on average volume Thus far, 7.6 million shares of Qualcomm exchanged hands as compared to its average daily volume of 12.2 million shares. The stock has ranged in price between $61.43-$62.02 after having opened the day at $61.43 as compared to the previous trading day's close of $61.60.

QUALCOMM Incorporated designs, develops, manufactures, and markets digital telecommunications products and services. It operates in four segments: QCT, QTL, QWI, and QSI. Qualcomm has a market cap of $106.5 billion and is part of the telecommunications industry. The company has a P/E ratio of 17.4, below the S&P 500 P/E ratio of 17.7. Shares are down 0.4% year to date as of the close of trading on Tuesday. Currently there are 27 analysts that rate Qualcomm a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates Qualcomm 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, notable return on equity, impressive record of earnings per share growth and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Qualcomm Ratings Report now.

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1. As of noon trading, AT&T ( T) is up $0.47 (1.26) to $37.93 on average volume Thus far, 10.4 million shares of AT&T exchanged hands as compared to its average daily volume of 26.2 million shares. The stock has ranged in price between $37.46-$37.94 after having opened the day at $37.49 as compared to the previous trading day's close of $37.46.

AT&T Inc. provides telecommunications services to consumers, businesses, and other providers in the United States and internationally. The company operates in three segments: Wireless, Wireline, and Other. AT&T has a market cap of $206.2 billion and is part of the telecommunications industry. The company has a P/E ratio of 28.7, above the S&P 500 P/E ratio of 17.7. Shares are up 11.1% year to date as of the close of trading on Tuesday. Currently there are 6 analysts that rate AT&T a buy, 2 analysts rate it a sell, and 18 rate it a hold.

TheStreet Ratings rates AT&T as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, expanding profit margins, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full AT&T Ratings Report now.

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If you are interested in one of these 5 stocks, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

A reminder about TheStreet Ratings group: 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.
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