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

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 lower today making it today's featured Technology laggard. The sector as a whole closed the day down 1.7%. By the end of trading, Cognizant Technology Solutions Corporation fell $1.51 (-3.0%) to $48.68 on average volume. Throughout the day, 4,437,803 shares of Cognizant Technology Solutions Corporation exchanged hands as compared to its average daily volume of 4,062,900 shares. The stock ranged in price between $48.55-$50.04 after having opened the day at $49.73 as compared to the previous trading day's close of $50.19. Other companies within the Technology sector that declined today were: InfoSonics Corporation ( IFON), down 15.7%, Aetrium Incorporated ( ATRM), down 11.5%, China Finance Online ( JRJC), down 11.1% and Luxoft ( LXFT), down 10.6%.

Cognizant Technology Solutions Corporation provides information technology (IT), consulting, and business process services worldwide. The company operates in four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. Cognizant Technology Solutions Corporation has a market cap of $31.2 billion and is part of the computer software & services industry. Shares are down 0.6% year to date as of the close of trading on Friday. Currently there are 14 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 good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

On the positive front, Vocus ( VOCS), up 47.1%, UBIC ( UBIC), up 19.7%, Pixelworks ( PXLW), up 8.9% and Nam Tai Electronics ( NTE), up 6.7% , were all gainers within the technology sector with RF Micro Devices ( RFMD) being today's featured technology sector leader.

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).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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