Cognizant Technology Solutions Corporation (CTSH): Today's Featured Technology Winner

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Cognizant Technology Solutions Corporation ( CTSH) pushed the Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day up 1.5%. By the end of trading, Cognizant Technology Solutions Corporation rose $2.78 (2.9%) to $98.60 on average volume. Throughout the day, 1,734,229 shares of Cognizant Technology Solutions Corporation exchanged hands as compared to its average daily volume of 1,756,400 shares. The stock ranged in a price between $96.30-$98.84 after having opened the day at $96.50 as compared to the previous trading day's close of $95.82. Other companies within the Technology sector that increased today were: Accelrys ( ACCL), up 29.3%, Infinera Corporation ( INFN), up 29.0%, GlobalSCAPE Incorporated ( GSB), up 18.9% and Concur Technologies ( CNQR), up 17.1%.

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. Cognizant Technology Solutions Corporation has a market cap of $29.3 billion and is part of the computer software & services industry. The company has a P/E ratio of 24.9, above the S&P 500 P/E ratio of 17.7. Shares are down 5.1% year to date as of the close of trading on Wednesday. Currently there are 13 analysts that rate Cognizant Technology Solutions Corporation a buy, no analysts rate it a sell, and 3 rate 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 good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

On the negative front, NeuStar ( NSR), down 19.8%, BroadVision ( BVSN), down 13.2%, On Track Innovations ( OTIV), down 12.6% and Vringo ( VRNG), down 10.2% , were all laggards within the technology sector with VMware ( VMW) being today's technology sector laggard.

For investors not wanting singular stock exposure, 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).

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