Trade Cognizant Technology Solutions Corporation
Cognizant is an American multinational technology company that provides business consulting, it and outsourcing services. The headquarters are located in Tink, New Jersey, United States. Cognizant is part of the NASDAQ-100 index and trades under CTSH. Founded as an internal technology unit of Dun & Bradstreet in 1994, it began to serve external clients in 1996.After a series of re-organizations there was an initial public offering in 1998.Cognizant was a period of rapid growth during the 2000s and became a Fortune 500 company in 2011; Cognizant started as Den and Bradstreet Software (DBSS), established as Dun & Bradstreet's internal technology unit focused on the large-scale implementation of IT projects for Den and Bradstreet business. In 1996, the company began pursuing clients outside Of Don & Bradstreet.In in 1996, and spun Without & Bradstreet from several of its subsidiaries including Eriscon, IMS International, Nielsen Media Research, Experimental Software, Strategic Technologies and DBSS, to form a new company called Cognizant, based in Chennai, India. Three months later, in 1997, DBS renamed itself cognizant technology solutions. In July 1997, Don & Bradstreet bought Satyam's 24% stake in DBSS for $3.4 million. Headquarters was moved to the United States, and in March 1998, Kumar Mahadeva was appointed CEO. The company, which operates as a division at Cognizant Corporation, has focused on projects related to "Year 2000" and network development. In 1998, the parent company, Cognizant Corporation, split into two companies: IMS Health and Nielsen Media Research. After this restructuring, Cognizant Technology Solutions became a public company affiliated with IMS Health. In June 1998, IMS Health partially cancelled the company and made an initial public offer of "mint" stock. The company raised $34 million, less than the health insurance providers in the international monitoring system had hoped. They allocated funds to pay off debts and improve corporate offices. Kumar Mahadeva decided to reduce the company's reliance on projects in 2000: by the first quarter of 1999, 26 per cent of the company's revenue came from the 2000 projects, compared with 49 per cent in early 1998. Believing that the $16.6 billion ERP software market had been saturated, Kumar Mahadeva decided to refrain from implementing large-scale ERP projects. Instead, it focused on application management, which accounted for 37% of Cognizant's revenue in the first quarter of 1999. Edrick's revenue in 2002 was $229 million, and the company had zero debt with $100 million in the bank. During the dot-com statue, the company grew by taking on maintenance projects that the largest IT service companies do not want.