Cognizant

Cognizant (NASDAQ: CTSH) is a global IT services provider, offering consulting and outsourcing services to some of the largest enterprises in the world across industries including financial services, media and communications, healthcare, natural resources, and consumer products. Cognizant was founded in Chennai in 1994 as a technological unit of Florida-based Dun and Bradstreet. The company was publicly listed on the Nasdaq exchange in 1998 and is currently headquartered in New Jersey. Cognizant generated revenue of USD 19.4 billion in 2022. 

Cognizant operates across four broad reporting segments: Financial Services; Health Sciences; Products and Resources; and Communications, Media, and Technology. Of these, the Financial Services segment is by far the largest, accounting for ~31% of company revenue in 2022. This segment provides digital and AI-based services to support the banking and insurance sectors. The Health Sciences segment (~29%) provides digital health and AI-based drug discovery support services to healthcare providers and pharmaceuticals. The Products and Resources segment (~24%) offers solutions to automakers and retailers as well as travel, energy, and utility providers to improve operational efficiency. The Communications, Media, and Technology segment (~16%) offers services to facilitate digital content creation and digital engineering, among others.

The company has a global presence and provides its products and services in more than 50 countries, with 270+ offices as well as 100+ delivery centers and innovation labs globally. Over 70% of Cognizant’s revenue in 2022 was from its operations in North America; however, the company’s core operations are carried out from India, which was home to more than 70% of Cognizant’s total workforce. In its 2022 annual filing, Cognizant stated that it plans to drive revenue growth through targeted acquisitions and to become the employer of choice within its industry. The company also plans to achieve net-zero emissions by 2030.