Cognizant Technology Solutions

Categories

Technology  

#530

Rank

$34.36B

MarketCap US

US United States

Country

Summary

Cognizant is a professional services company, transforming clients’ business, operating and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 195 on Fortune 500 and is consistently listed among the most admired companies in the world. 


History

1994: CTS Company was founded on 26th January as a technological unit of an existing firm called Dun & Bradstreet.

1998: Headquarters were moved to the United States, and in March, Kumar Mahadeva was named CEO. Operating as a division of the Cognizant Corporation, the company focused on Y2K-related projects and web development. The parent company, Cognizant Corporation, underwent some structural changes, dividing into two separate public companies as a way to help each unit maximize growth. Cognizant is registered under the ticker NASDAQ: CTSH. Their stock opened at $10.00 in its Jun 19, IPO. The parent company, Cognizant Corporation, is split into two companies: IMS Health and Nielsen Media Research.

1999: According to a Forbes profile; Sensing that another consulting obsession was about to peak, Mahadeva kept clear of the $16.6 billion enterprise resource planning (ERP) software business--installing monolithic software packages that manage companies' back-office functions. Instead, he focused on applications management, which accounted for 37% of Cognizant's revenue in Q1. 

2000: Cognizant grew rapidly and became a Fortune 500 company in 2011. It is a member of the NASDAQ-100, the S&P 500, the Forbes Global 2000 and the Fortune 500 and is positioned among the top-performing and fastest-growing companies in the world.

2001: Even following the terrorist attacks of September 11, 2001, corporations remained willing to have their IT services handled offshore by Cognizant and others.

2002: The purchase of United Healthcare Ireland Limited assets added some 70 software professionals while increasing its international presence. Cognizant's revenues were $229 million, and the company had zero debt with $100 million in the bank.

2003: Kumar Mahadeva resigned as CEO, and was replaced by Lakshmi Narayanan. The company gains complete independence from IMS Health. such as Cognizant's India operation was only obligated to pay taxes if they brought back profits to the United States. The company had always been accorded a great deal of latitude in how it conducted its business by parent corporation IMS, which opted to act more as a shareholder than an owner. Finally, Cognizant gained its complete independence following a split-off. Cognizant acquired Aces International Inc., a CRM company with a strong presence in healthcare, financial services, and telecommunications. Estimates for 2003 topped $350 million. But, Cognizant sold all its shares in the subsidiary and the CEO also resigned from his post.

2006: Lakshmi Narayanan was succeeded by Francisco D'Souza.

2008: The company also launched the Go Green initiative. Cognizant Technology Solutions made its debut in the Fortune 1000 ranking at 859th position.

2011: With its impressive plans, CTS Company went on to be the fastest-growing company in the new millennium and was declared a Fortune 500 company.

2014: In September, Cognizant struck its biggest deal, acquiring healthcare IT services provider TriZetto Corp for $2.7 billion.

2015: On 24 June, the company signed a multimillion-dollar agreement with Escorts Group in India to help Escorts' businesses in digital transformation and modernise its operations across all business segments. In 2015, it was named the 4th best IT services company by Fortune Magazine.

2018: In April, Cognizant and a consortium of Indian life insurers announced their development of a blockchain solution aimed at increasing efficiency through facilitating cross-company data sharing. Till December, Cognizant has added $14.66 billion in revenue or the combined numbers of what Wipro and Tech Mahindra Ltd could achieve. Their most recent investment was on Nov 20, when Civic Hall raised $2M.

2020: Cognizant Technology Solutions' revenue for the quarter ending September 30, was $4.243B, a 0.12% decline year-over-year. Cognizant Technology Solutions' revenue for the twelve months ending was $16.752B, a 0.75% increase year-over-year. Expecting a challenging demand environment after 2020, the company plans to invest in developing digital skills while correcting the employee pyramid, by onboarding close to 20,000 entry-level hires.

2022: In January, Cognizant sold its acquisition Oy Samlink to Kyndryl.


Mission

To dedicate our business process and technology innovation know-how, deep industry expertise and worldwide resources to working together with clients to make their businesses stronger.


Vision

We give organisations the insights to anticipate what customers want and act instantly to deliver on those demands. So they can achieve the goal of every modern business: staying one step ahead of a fast-changing world.


Key Team

Brian J. Humphries (CEO)

Lakshmi Narayanan (Founder)

Francisco D'Souza (Founder)

Akash Mohan (Chief Information Architect For Big Data and AI Driven Data Science and Analytics Platform)

Archana Deskus (Board Member)

Ali Faraj (Chief Technology Officer)

John E. Klein (Board Member)

Allen Shaheen (Executive Vice President)

John M. Dineen (Board Member)

Andrea Watkins (Chief of Staff To The CPO)

John Nelson Fox (Board Member)

Andres Angelani (Chief Product Engineering Officer)

Jonathan Chadwick (Board Member)

Andrew M. Stafford (EVP, Head of Global Delivery)

Joseph Mark Velli (Board Member)

Francisco D'Souza (Founder)

Leo S. Mackay (Board Member)

Kumar Mahadeva (Founder)

M Laxminarayan (Board Member)

Lakshmi Narayanan (Founder)


Recognition and Awards
Fortune 500, Fortune: Most Admired Companies

References
Cognizant Technology Solutions
Leadership team

Francisco D'Souza (Founder)

Kumar Mahadeva (Founder)

Industries

Technology

Number of Employees
Above 50,000
Headquarters
Teaneck, New Jersey, United States
Established
1994
Company Type
Public Limited Company
Company Registration
SEC CIK number: 0001058290
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
CTSH
Social Media

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Sat Feb 24 2024
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