Cognizant, also known as Cognizant Technology Solutions Corporation, is a publicly owned company headquartered in Teaneck, New Jersey, United States. Founded in 1994, it provides IT services and IT consulting, employs approximately 351,530 individuals, and reported $21.1B in revenue as of 2025. The company originally started as an in-house technology unit for Dun & Bradstreet based in Chennai, India. By 1996, it began serving external clients and was spun off as an independent entity, eventually going public on the NASDAQ in 1998. Cognizant has grown through the dot-com boom, Y2K transition, and digital transformation eras. It operates as a Fortune 500 company with an operational footprint in India, serving global brands, including 30 of the top 30 biopharma companies and a majority of European banks.
ABS Direct Equity Fund LLC acquired a new stake in Cognizant Technology Solutions Corporation during the second quarter, purchasing 9,300 shares valued at approximately $360,000. This follows news on September 11 that the Department of Labor suspended Cognizant from making new filings under the Program Electronic Review Management (PERM) system, which US employers use to sponsor foreign workers for permanent residency. This action stems from authorities probing allegations of fraud and abuse of employment-based immigration programs. Previously, on September 10, Cognizant reported that 17 production AI agents deployed at a large foodservice business reclaimed approximately 11 hours per account manager each week, reflecting the company's broader push into AI-enabled services.
Cognizant's customers primarily consist of other media, hospitals and Health Care and insurance companies. Examples of Cognizant's customers include Bell Media, Fortrea and CNO Financial Group. Cognizant has commercial and technical partners like Omron Group, JG Summit Holdings and Telstra. Examples of Cognizant's suppliers include Oracle, ServiceNow and Google.
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