NEW YORK (TheStreet) -- Cognizant Technology Solutions  (CTSH - Get Report) stock is up by 6.22% to $59.61 on heavy trading volume on Tuesday, after the company announced that its full-year earnings results will not be affected by flooding in Chennai, India.

The Teaneck, NJ-based IT services company announced that it expects to report full-year 2015 earnings of $3.03 per share, in-line with the company's prior guidance. Additionally, the company projects revenue of $12.41 billion for the year.

Cognizant has 11 delivery and operations centers in Chennai, where heavy rains have caused record-breaking floods and damage.

"Cognizant extends its gratitude to its employees, business partners, government agencies, and others involved in recovery efforts that helped in quickly bringing our business operations back to normal," Cognizant President Gordon Coburn said in a statement on Tuesday. "We are also grateful to our clients for their understanding of the circumstances, and their support of our Business Continuity Plan actions taken during the flood to successfully ensure continued delivery of services."

So far today, 6.53 million shares of Cognizant have traded, versus its 30-day average of 3.79 million shares.

Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate COGNIZANT TECH SOLUTIONS as a Buy with a ratings score of B+. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. 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, reasonable valuation levels, growth in earnings per share and good cash flow from operations. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity.

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • The revenue growth greatly exceeded the industry average of 26.9%. Since the same quarter one year prior, revenues rose by 23.5%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • CTSH's debt-to-equity ratio is very low at 0.11 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Along with this, the company maintains a quick ratio of 3.10, which clearly demonstrates the ability to cover short-term cash needs.
  • COGNIZANT TECH SOLUTIONS has improved earnings per share by 12.1% 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, COGNIZANT TECH SOLUTIONS increased its bottom line by earning $2.35 versus $2.02 in the prior year. This year, the market expects an improvement in earnings ($3.04 versus $2.35).
  • Net operating cash flow has increased to $817.90 million or 40.24% when compared to the same quarter last year. In addition, COGNIZANT TECH SOLUTIONS has also vastly surpassed the industry average cash flow growth rate of -12.86%.
  • You can view the full analysis from the report here: CTSH