Cognizant Technologies in BusinessWeek toppers' list
Mar 19, 2007 - 7:56:08 PM
Chennai, March 19 - Cognizant Technologies, a global IT solutions and software development firm based here, was Monday named one of BusinessWeek's 50 best performing companies.
The rankings, which put Cognizant at second spot in the IT sector, represent BusinessWeek's selection of the 'best in class' from each of the 10 sectors that make up the S and P - 500.
Top companies in each sector were chosen based on sales growth, average returns on capital, total returns, profitability and ranks within the industry.
BusinessWeek calls this year's 50 best performers 'companies that are rewriting the rules in their industries'.
In achieving this distinction, Cognizant is deemed one of 'the agitators, the pioneers and the game-changers that are leading the way in the 21st century' in the Indian IT sector.
This is Cognizant's first year in the rankings, which are published in the March 26 issue of BusinessWeek. Cognizant is the only IT service outsourcing company listed in the BusinessWeek 50.
This achievement follows the company's sixth ranking among BusinessWeek's 'Hot Growth Technology Companies' in December.
Cognizant is a member of the Nasdaq-100 index and the S and P 500 index.
'We are honoured to be recognised by BusinessWeek for the success of our strategy and strong financial and operating performance,' Cognizant CEO Francisco D'Souza said here Monday.
'What distinguishes Cognizant in the market is our steadfast commitment to partnering with our customers to strengthen their businesses while providing a tangible return on their IT investments,' he added.
Cognizant, with 40,000 employees, is a leading provider of IT and business process outsourcing services, using its own on-site/offshore outsourcing model to provide applications management, development, integration and reengineering processes.
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