As a growth investor, I place a priority on stocks that are growing sales and earnings dramatically. Frequently, this means focusing on innovative tech stocks because these are the companies that have the potential to really see a surge in sales. Sluggish conglomerates and financials just can’t match the growth.

Two tech stocks I’m bullish on right now are Cognizant Technology Solutions Corp. (NASDAQ: CTSH) and Priceline.com Inc. (NASDAQ: PCLN). Both companies just reported dramatic earnings this week, and have bright futures.

Cognizant Technology Solutions Corp. (CTSH) is a member of my Blue Chip Growth newsletter’s Buy List. Cognizant is a leading IT firm that provides a wide array of data and software services to businesses around the world. It offers its services to all manner of businesses, including financial services, health care, manufacturing and logistics, retail, telecommunications and the media. The company enjoys big margins because most of Cognizant Tech’s software development centers and employees are located in India, although it has other development facilities in Argentina, China, Hungary and even a small operation in the U.S.

Cognizant just reported earnings on Aug. 4 and said that for the second quarter it earned $172.2 million, or $0.56 per share, compared with $141.3 million, or $0.47 per share, for the same period in 2009. Analysts had expected earnings per share of $0.52 per share, resulting in an 8.3% earnings surprise. The IT company also said that its second-quarter sales spiked 42% to $1.11 billion, beating the average forecast of $1.02 billion. The company’s forecast for its third quarter remained upbeat. Cognizant said it expects earnings of at least $0.59 per share and revenue of $1.18 billion. Analysts are forecasting $0.54 per share on earnings of $1.06 billion.

Lastly, Cognizant raised its year-end forecast. The company predicted earnings of at least $2.26 per share with sales of at least $4.46 billion. That’s up from a previous estimate of at least $2.10 per share and sales of at least $4.1 billion. Analysts expect $2.13 per share on sales of $4.14 billion.

Cognizant has increased more than +35% since January 1, and is providing big profits to investors.

Another great tech stock to buy after earnings is Priceline.com Inc. (PCLN), a pretty famous online travel discounter that boasts William Shatner as its pitchman. Priceline also reported earnings August 4, and posted a stunning 71% surge in second-quarter net income as a result of increased travel bookings. The company said global hotel reservations notched the biggest gain, increasing a whopping 48% compared with the same period last year.

Priceline said that it earned $115 million, or $2.26 per share, in the second quarter. That is an increase of more than 70% from last year’s net income of $67.1 million, or $1.38 per share. Excluding one-time items, the company’s adjusted income totaled $158.2 million or $3.09 per share. Analysts had expected the company to earn $2.65 per share for the quarter on sales of $733 million, resulting in a 16.7% earnings surprise.

Sales climbed 27% to $767.4 million from $603.7 million last year, with international operations contributing $322.6 million, up 63% versus a year ago. Priceline said that bookings in the second quarter were $3.4 billion, an increase of 43% compared with last year. The company’s May acquisition of international car hire service TravelJigsaw contributed $43.9 million to quarterly gross travel bookings.

The company is forecasting third-quarter net income of $4.06 to $4.26. That compares with analysts’ average estimates of $4.18 per share. Priceline.com has increased more than +30% so far in 2010 and boasts a bright future.

As of this writing, Louis Navellier was recommending shares of both PCLN and CTSH to subscribers of his Blue Chip Growth newsletter.

5 Small Cap Stocks to Buy Now – Small, innovative companies are watching their earnings explode — and they are the next ten-baggers. Investing pro Louis Navellier reveals his secrets to identifying these small cap innovators, plus five of his favorite small cap stocks — download your FREE profit guide here.