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The Computer Software & Services industry as a whole closed the day down 2.0% versus the S&P 500, which was down 0.9%. Laggards within the Computer Software & Services industry included BluePhoenix Solutions ( BPHX), down 1.6%, GRAVITY ( GRVY), down 1.8%, One Horizon Group ( OHGI), down 9.6%, TigerLogic ( TIGR), down 21.4% and Cover-All Technologies ( COVR), down 4.1%.

TheStreet Ratings Group would like to highlight 3 stocks that pushed the industry lower today:

Wipro ( WIT) is one of the companies that pushed the Computer Software & Services industry lower today. Wipro was down $0.17 (1.5%) to $11.06 on heavy volume. Throughout the day, 1,263,488 shares of Wipro exchanged hands as compared to its average daily volume of 443,700 shares. The stock ranged in price between $11.05-$11.45 after having opened the day at $11.38 as compared to the previous trading day's close of $11.23.

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 $28.3 billion and is part of the technology sector. Shares are down 0.8% year-to-date as of the close of trading on Wednesday. Currently there are no analysts who rate Wipro a buy, no analysts rate it a sell, and 5 rate it a hold.

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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, growth in earnings per share, increase in net income and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.

Highlights from TheStreet Ratings analysis on WIT go as follows:

  • The revenue growth came in higher than the industry average of 6.3%. Since the same quarter one year prior, revenues rose by 11.6%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • WIT's debt-to-equity ratio is very low at 0.15 and is currently below that of the industry average, implying that there has been very successful management of debt levels. To add to this, WIT has a quick ratio of 2.22, which demonstrates the ability of the company to cover short-term liquidity needs.
  • WIPRO LTD has improved earnings per share by 8.3% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, WIPRO LTD increased its bottom line by earning $0.53 versus $0.41 in the prior year. This year, the market expects an improvement in earnings ($0.56 versus $0.53).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the IT Services industry average, but is less than that of the S&P 500. The net income increased by 10.4% when compared to the same quarter one year prior, going from $295.42 million to $326.17 million.

You can view the full analysis from the report here: Wipro Ratings Report

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At the close, Cover-All Technologies ( COVR) was down $0.05 (4.1%) to $1.18 on light volume. Throughout the day, 4,057 shares of Cover-All Technologies exchanged hands as compared to its average daily volume of 13,600 shares. The stock ranged in price between $1.18-$1.20 after having opened the day at $1.19 as compared to the previous trading day's close of $1.23.

Cover-All Technologies Inc., through its subsidiary, Cover-All Systems, Inc., licenses and maintains software products for the property/casualty insurance industry in the United States and Puerto Rico. Cover-All Technologies has a market cap of $32.8 million and is part of the technology sector. Shares are down 1.6% year-to-date as of the close of trading on Wednesday.

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TheStreet Ratings rates Cover-All Technologies as a sell. Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself.

Highlights from TheStreet Ratings analysis on COVR go as follows:

  • COVR has underperformed the S&P 500 Index, declining 22.59% from its price level of one year ago. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.
  • The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Software industry and the overall market, COVER-ALL TECHNOLOGIES INC's return on equity significantly trails that of both the industry average and the S&P 500.
  • 45.78% is the gross profit margin for COVER-ALL TECHNOLOGIES INC which we consider to be strong. Regardless of COVR's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, COVR's net profit margin of 3.29% is significantly lower than the industry average.
  • COVR, with its decline in revenue, underperformed when compared the industry average of 26.9%. Since the same quarter one year prior, revenues slightly dropped by 1.1%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
  • COVR's debt-to-equity ratio is very low at 0.18 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Although the company had a strong debt-to-equity ratio, its quick ratio of 0.94 is somewhat weak and could be cause for future problems.

You can view the full analysis from the report here: Cover-All Technologies Ratings Report

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BluePhoenix Solutions ( BPHX) was another company that pushed the Computer Software & Services industry lower today. BluePhoenix Solutions was down $0.05 (1.6%) to $3.10 on average volume. Throughout the day, 2,447 shares of BluePhoenix Solutions exchanged hands as compared to its average daily volume of 2,100 shares. The stock ranged in price between $2.27-$3.15 after having opened the day at $2.27 as compared to the previous trading day's close of $3.15.

BluePhoenix Solutions has a market cap of $41.1 million and is part of the technology sector. Shares are down 5.2% year-to-date as of the close of trading on Wednesday.

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