VIP, ADP And CTSH, 3 Technology Stocks Pushing The Sector Lower

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.

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 59 points (-0.4%) at 16,657 as of Wednesday, May 14, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,380 issues advancing vs. 1,556 declining with 176 unchanged.

The Technology sector currently sits down 0.3% versus the S&P 500, which is down 0.2%. On the negative front, top decliners within the sector include Agilent Technologies ( A), down 1.5%, Amazon.com ( AMZN), down 1.3%, Micron Technology ( MU), down 1.1%, Accenture ( ACN), down 0.9% and Hewlett-Packard ( HPQ), down 0.7%. Top gainers within the sector include Iron Mountain ( IRM), up 7.7%, Vipshop Holdings ( VIPS), up 4.0%, Western Digital ( WDC), up 3.8%, Telekomunikasi Indonesia (Persero) Tbk ( TLK), up 3.6% and Akamai Technologies ( AKAM), up 2.5%.

TheStreet would like to highlight 3 stocks pushing the sector lower today:

3. VimpelCom ( VIP) is one of the companies pushing the Technology sector lower today. As of noon trading, VimpelCom is down $0.50 (-6.0%) to $7.76 on heavy volume. Thus far, 5.7 million shares of VimpelCom exchanged hands as compared to its average daily volume of 2.8 million shares. The stock has ranged in price between $7.61-$7.98 after having opened the day at $7.90 as compared to the previous trading day's close of $8.26.

VimpelCom Ltd., a telecommunications service operator, provides voice and data services through a range of traditional and broadband mobile and fixed technologies. VimpelCom has a market cap of $13.5 billion and is part of the telecommunications industry. Shares are down 36.2% year-to-date as of the close of trading on Tuesday. Currently there are 2 analysts that rate VimpelCom a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates VimpelCom as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself. Get the full VimpelCom Ratings Report now.

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

2. As of noon trading, Automatic Data Processing ( ADP) is down $0.50 (-0.6%) to $78.42 on light volume. Thus far, 415,190 shares of Automatic Data Processing exchanged hands as compared to its average daily volume of 1.8 million shares. The stock has ranged in price between $78.33-$79.10 after having opened the day at $79.02 as compared to the previous trading day's close of $78.92.

Automatic Data Processing, Inc., together with its subsidiaries, provides technology-based outsourcing solutions to employers and vehicle retailers and manufacturers worldwide. Automatic Data Processing has a market cap of $38.0 billion and is part of the computer software & services industry. Shares are down 2.3% year-to-date as of the close of trading on Tuesday. Currently there are 5 analysts that rate Automatic Data Processing a buy, 2 analysts rate it a sell, and 13 rate it a hold.

TheStreet Ratings rates Automatic Data Processing as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, good cash flow from operations, growth in earnings per share and increase in stock price during the past year. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Automatic Data Processing Ratings Report now.

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

1. As of noon trading, Cognizant Technology Solutions ( CTSH) is down $0.58 (-1.2%) to $48.41 on light volume. Thus far, 915,030 shares of Cognizant Technology Solutions exchanged hands as compared to its average daily volume of 3.7 million shares. The stock has ranged in price between $48.34-$49.03 after having opened the day at $48.94 as compared to the previous trading day's close of $48.99.

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 has a market cap of $29.8 billion and is part of the computer software & services industry. Shares are down 3.0% year-to-date as of the close of trading on Tuesday. Currently there are 13 analysts that rate Cognizant Technology Solutions a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Cognizant Technology Solutions 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, expanding profit margins, 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 somewhat disappointing return on equity. Get the full Cognizant Technology Solutions Ratings Report now.

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

If you are interested in one of these 3 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).

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