WIT, INFY And CTSH, Pushing Computer Software & Services Industry Downward

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 up today with the Dow Jones Industrial Average ( ^DJI) trading up 17 points (0.1%) at 16,651 as of Thursday, May 29, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,820 issues advancing vs. 1,121 declining with 182 unchanged.

The Computer Software & Services industry currently sits up 0.2% versus the S&P 500, which is up 0.2%. On the negative front, top decliners within the industry include Workday ( WDAY), down 3.7%, and Thomson Reuters ( TRI), down 1.1%. Top gainers within the industry include Salesforce.com ( CRM), up 1.7%, Adobe Systems ( ADBE), up 1.3%, Oracle Corporation ( ORCL), up 1.1% and Accenture ( ACN), up 0.8%.

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

3. Wipro ( WIT) is one of the companies pushing the Computer Software & Services industry lower today. As of noon trading, Wipro is down $0.18 (-1.6%) to $11.26 on light volume. Thus far, 221,666 shares of Wipro exchanged hands as compared to its average daily volume of 598,700 shares. The stock has ranged in price between $11.16-$11.33 after having opened the day at $11.26 as compared to the previous trading day's close of $11.44.

Wipro Limited provides information technology (IT) products and services worldwide. It operates in two segments, IT Services and IT Products. Wipro has a market cap of $28.5 billion and is part of the technology sector. Shares are down 9.1% year-to-date as of the close of trading on Wednesday. Currently there are no analysts that rate Wipro a buy, 1 analyst rates it a sell, and 5 rate it a hold.

TheStreet Ratings rates Wipro as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, increase in net income and reasonable valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins. Get the full Wipro 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, Infosys ( INFY) is down $0.90 (-1.8%) to $50.26 on average volume. Thus far, 1.1 million shares of Infosys exchanged hands as compared to its average daily volume of 1.5 million shares. The stock has ranged in price between $50.06-$50.63 after having opened the day at $50.21 as compared to the previous trading day's close of $51.16.

Infosys Limited provides business consulting, technology, engineering, and outsourcing services worldwide. Infosys has a market cap of $30.4 billion and is part of the technology sector. Shares are down 9.6% year-to-date as of the close of trading on Wednesday. Currently there are 3 analysts that rate Infosys a buy, no analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Infosys as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Infosys 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 $0.31 (-0.6%) to $48.59 on light volume. Thus far, 1.2 million shares of Cognizant Technology Solutions exchanged hands as compared to its average daily volume of 3.8 million shares. The stock has ranged in price between $48.25-$48.82 after having opened the day at $48.82 as compared to the previous trading day's close of $48.90.

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 $29.7 billion and is part of the technology sector. Shares are down 3.1% year-to-date as of the close of trading on Wednesday. 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, good cash flow from operations and impressive record of earnings per share growth. 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 computer software & services industry could consider iShares S&P NA Tech Software Idx ( IGV) while those bearish on the computer software & services industry could consider ProShares Ultra Short Technology ( REW).
null

If you liked this article you might like

Infosys Is Tanking Because Its Ex-CEO's Transformation Efforts Are Now in Limbo

Infosys Is Tanking Because Its Ex-CEO's Transformation Efforts Are Now in Limbo

Modi's Visit to Meet Trump Focuses Big Spotlight on the H-1B Visa Debate

Modi's Visit to Meet Trump Focuses Big Spotlight on the H-1B Visa Debate

Infosys Plans To Hire 10,000 Americans After Trump Visa Crackdown

Infosys Plans To Hire 10,000 Americans After Trump Visa Crackdown

White House Name-Checks Infosys, Cognizant Ahead of H-1B Order

White House Name-Checks Infosys, Cognizant Ahead of H-1B Order

Buy Accenture's Stock on Dips

Buy Accenture's Stock on Dips