40+ Mind-blowing Cognizant Statistics and Facts for 2024
Headquartered in Teaneck, New Jersey, global information technology powerhouse Cognizant began humbly in 1994 as an in-house team serving parent company Dun and Bradstreet out of Chennai, India. Co-founders Kumar Mahadeva and Francisco D'Souza steadily grew their specialized consulting outfit focused on emerging digital transformation needs. Their vision to deliver innovative, custom-tailored solutions for clients worldwide soon morphed Cognizant into a veritable one-stop shop IT partner.
Under current CEO Brian Humphries, Cognizant now rakes in nearly $20 billion annually. Their services extend beyond consulting to include digital strategy, cloud implementation, data analytics, AI solutions, and more. But despite swelling to a workforce of more than 350,000 across 87 global offices, Cognizant continues to promote its people-first foundation.
Cognizant's investment in understanding each customer's unique needs while supporting employees to excel has fueled its meteoric rise as a global IT leader. But the numbers reveal even bolder ambitions to dominate as a digital transformation trailblazer. According to IDC, global digital transformation spending is projected to reach over $7 trillion by 2025. And Cognizant aims to continue growing along with it if the past three decades have shown anything.
Intrigued by the company's origins and its exponential growth? Read on as we unpack key statistics documenting Cognizant's impressive journey. Upcoming sections will spotlight financials, customers, offerings, and workforce metrics that showcase this IT giant's global influence.
- Born in 1994, Cognizant kicked off as an in-house unit of Dun & Bradstreet.
- Cognizant had its first Initial Public Offering in 1998.
- Cognizant stock price had been relatively stable throughout 2023, mostly trading at $65.28.
- Cognizant ranks #7 among the most valuable IT companies.
- The most valuable conferencing platform is Cognizant.
- The average working period for Cognizant staff is 6.5 years.
- Approximately 6,000 consultants work at Cognizant.
- As of last year, Cognizant's revenue was about $19.4 billion.
- Cognizant staff are entitled to benefits such as Visa and green card sponsorship, flexible work-from-home opportunities, and annual performance bonuses.
Cognizant was first established in India and is a professional IT service and consulting company currently in the USA. It is now a household name in business process services, software product engineering, digital strategy, application services, and infrastructure services.
2. Cognizant is Headquartered in Teaneck, USA.Cognizant has its headquarters in Teaneck, New Jersey, USA. It started in Chennai, India, as a division of Dun & Bradstreet in 1994. In 1998, Cognizant Corporation split into two companies, IMS Health and Nielson Media Research, to enhance growth. It later moved its headquarters to the US in March 1998, with Kumar Mahadeva as the CEO. Cognizant Corporation conducted an initial public offering (IPO) of the subsidiary's stock, raising $34 million. This amount raised was less than IMS Health's expectation. The firm wanted to use the funds raised to clear debt payments and to upgrade company offices. Afterward, the company sold its stake and acquisition.
3. Cognizant was Founded in 1994 as a Technological Unit of Dun & Bradstreet.Cognizant started as Dun & Bradstreet Software (DBSS) on January 26, 1994. The company Cognizant was established as an in-house unit of Dun & Bradstreet for IT projects. In 1996, the company rebranded as Cognizant Corporation and to Cognizant Technology Solutions in 1997. Cognizant was co-founded by Kumar Mahadeva and Fransisco D'Souza and led by Brian Humphries, Karen McLoughlin, and Malcolm Frank.
4. Cognizant Began to Render Services to Customers in 1996.Cognizant was established in 1994 to institute IT projects and to make organizational processes less complex. However, Cognizant (then DBBS), though stable in operation, began offering services to clients in 1996.
5. Cognizant Conducted its First IPO in 1998, Accompanied by Years of Rapid Growth in the Early 2000s.After Cognizant Corporation split into separate units and spun off some assets, IMS, a sub-unit of Cognizant Corporation, conducted an IPO. The sole aim of Cognizant's completion of an IPO was to pay debt and upgrade its offices in India. Cognizant registered under a ticker and had their stock opened at $10 in June 1998. Cognizant could only raise a net of $34 million from sales of shares at $10 instead of the $11-$13 the company wished to sell at. It experienced super-fast growth in the 2000s, recognizing the company as a Fortune 500 Company in 2011.
6. Cognizant has Made 78 Competitor Acquisitions Across the Globe in its Years of Existence.According to Wikipedia, Kyndryl and Mustache bought a Cognizant acquisition (Oy Samlink) in 2022. The acquisition above was, in turn, sold to DJE Holdings. Cognizant acquisitions in record are estimated to be 78 and spread across 18 countries. Cognizant acquired these companies between June 2002 and January 2023.
7. Cognizant Technology Solutions Rebranded from Dun & Bradstreet Satyam Software in 1997.After Dun and Bradstreet spun off some subsidiaries in 1996, the company rebranded as Cognizant Technology Solutions in 1997. Cognizant bought about 24% stake at $3.4 million and moved its headquarters to the US.
8. Besides Being Facebook's Monitor, Cognizant is a Hosting Provider for Healthcare Providers and Financial Services.The Healthcare industry is broad. Therefore, digitalization is necessary to optimize and improve healthcare solutions. This is why most Healthcare providers utilize Cognizant for payers, providers, and other services. Aside from being a host to healthcare providers, Cognizant moderates Facebook content as a tech company. Cognizant came into the spotlight after being Facebook's monitor, watching out for violating content.
9. Poison Pill Issued Shortly After Cognizant Purchased 56% of IMS' Stake in 2003.The rationale for selling IMS's stake was to raise enough money to clear debts and invest in other businesses. In 2003, Cognizant possessed 54% of the IMS's stake. Upon the legal purchase of IMS's stake, Cognizant implemented a poison pill shareholders' rights plan. The issuance of poison pills prevents hostile takeover attempts by intruders.
Cognizant Market Share Statistics
Statistics reveal that Cognizant dominates 3.81% of the world's market share as of the second quarter of last year.
11. Cognizant Saw a 0.41% Decline in its Market Share 2024.Cognizant's share price fell by 0.41%, losing its market share estimated to 3.78% in the second quarter of this year.
12. Market Observers Estimated Cognizant Market Stock Will Reach $63.28 This Year.Market observers set the stock price for Cognizant at $69.01 as of August last year, but by November this year, the figure is already at $63.28.
13. Cognizant's Stock Surged to $66.53 Between Last Year and This Year.The stock of Cognizant reached a year's high of $93.47 and a year's low of $63.26 between 2021 and 2022. Data from the Financial Times revealed that these figures dropped to $66.53 and $59.62 between last year and this year.
14. In 2023, Cognizant Attained the Same Profit Margin and Operating Margin at 14.25%.Statistics show that Cognizant's profit margin as of 2022 hit 11.74%, with an operating margin of 15.32%. However, the case was different for Cognizant in July 2023, as the profit and operating margin marked the same margin at 14.25%.
15. Cognizant Emerges Among the Industry's First Three Most Valuable IT Services Companies.By its brand value of $8.63 billion and its outstanding efforts, Cognizant ranked the third most valuable IT company in 2023. The IT firm is set to deliver the best healthcare financial services and provide IT support solutions to businesses in need.
Usage Statistics of Cognizant
The ability to service diverse areas besides CRM services is a plus for Cognizant. The globally recognized CRM software company renders quality IT support, maintenance, and cloud computing services. The top 5 internet companies that depend on Cognizant IT services include Google, Amazon, Microsoft, Apple, and Cisco.
17. 30 of the Largest Pharmaceutical Companies in the World Use Cognizant IT Services.Around 30 leading players in the pharmaceutical industry deploy the services of the Cognizant platform. As a leading provider in the Healthcare industry, Cognizant is committed to managing pharmaceutical infrastructure for enhanced business efficiency. Some pharmaceutical companies served by Cognizant include:
- Johnson & Johnson
- Pfizer
- Roche
- Novartis
- Merck & Co.
- AbbVie
The number of pharmaceutical companies using Cognizant's IT services is vast and not limited to the list above.
18. 90% of Banks in Europe Utilize Cognizant Platforms and Services.As we all know, Cognizant services different industries, including the banking and financial sectors. Cognizant services cut across data analytics, application development, IT consultation, and more. In the list below, you'll find some of the largest European banks that utilize Cognizant's platforms and services:
- Barclays (UK)
- BNP Paribas (France)
- Deutsche Bank (Germany)
- HSBC (UK)
- Intesa Sanpaolo (Italy)
- Lloyds Banking Group (UK)
- Santander Group (Spain)
- Societe Generale (France)
- UBS Group (Switzerland)
- UniCredit (Italy)
Cognizant serves 9 in every 10 banks and financial institutions in Europe.
19. Cognizant Creates a Significant Impact in the Healthcare Industry by Rendering 23 Out of 25 Healthcare Plans.It drives better health outcomes by helping the Healthcare industry make informed decisions on Analytics strategy and process innovations.Cognizant offers IT support services such as ERP and CRM systems, E-health, and portal development services. Research shows Cognizant renders as much as 23 of 25 healthcare plans.
Cognizant Employees and Customers Statistics
India is supposedly the country with the largest number of Cognizant employees. Out of the 355,300 Cognizant employees across the globe, its former headquarters, India, records the greater percentage of its staff. Indian employees who work with Cognizant in India number about 150,000 and makeup 45% of the global employees. Cognizant's large employee count has contributed to the company's growth in the IT industry.
21. Gender Disparity Amongst Cognizant Employees, Men (65%) and Women (35%).Reports show that the disparity in gender at Cognizant is about 30%. The men make up 65% of Cognizant employee count, while the women make up 35%.A factor that could influence gender disparity at Cognizant is that males dominate the Information Technology industry. Cognizant is making progress toward gender equality in its employee roll-list. The number of female employees at Cognizant dropped from 30% to 35% between 2017 and 2020. During this time frame, statistics show that the women's participation at Cognizant was 36% to 38%, respectively. Furthermore, the number of female employees in Senior Management grew from 11.8% to 13.1% from 2020 to 2021.
22. Cognizant's Major Employees' Ethnicity Comprises 42% of Asians, 36% of Whites, and 10% of Latin Americans.Statistics reveal the Asian race in the Cognizant workforce is 42%, and the Whites make up 36%. The Latino Cognizant staff are approximately 10%, and the remaining percentage is an unidentified race. In addition to Asian being the most common ethnicity at Cognizant at 42%, it has the most common minority employees in the company.
23. Staff at Cognizant Work for at Least 6.5 Years on Average.Around 29% of Cognizant staff stay employed for at least one to two years. 25% of employees work for 11 years or more, and only 8% work for eight to ten years. Employees are most likely to work with Cognizant for 6.5 years on average. Most Cognizant employees stay in the company for only 1-2 years.
24. Cognizant Employees Earn $84,545 on Average Yearly.The department and varying geographic locations can influence the salary of a Cognizant staff member. For instance, Cognizant staff in the marketing department earns around $88,091 on average, and software engineers earn as much as $105,000. The IT service company pays its staff $84,545 annually annually and is generally well-paid. Statistics show that employees at Cognizant based in Los Angeles, CA, and Bellevue are the highest earners.
25. Minorities Make up the Greater Percentage of Cognizant Employees at 64%, and Minority Executive Staff are About 49%.Notably, Cognizant executive minorities make up 49%, but generally, all minority employees are about 64%. These figures represent the diversity in Cognizant's employees. Minority diversity awareness fosters career growth for minorities to create a safe and open environment.
26. According to its Employee Count, Cognizant had Approximately 6,000 Consultants in 2018.Cognizant recorded around 6,000 global consultants from vertical and horizontal units in 2018. These units together comprise the Consulting team across all the company's sections. In addition, the consultants contribute to the number of employees at Cognizant globally.
Cognizant Revenue Statistics
Cognizant's annual report shows the company hit $18.5 billion in revenue in 2021. This figure pointed to a growth of 11.1% over the previous year. In the IT service business, 2021 recorded the highest profit in revenue for Cognizant, following eight years of consecutive growth.
28. Cognizant's Revenue Grew to $8.8 Billion in 2013.In terms of growth, Cognizant has gone green, maintaining a steady revenue increase over the years, specifically between 2012 and 2013. During this period, Cognizant's revenue moved from $7.3 billion to $8.8 billion, reflecting a 20.4% rise.
29. Cognizant's Revenue Increased Consistently, Surpassing the $19.25 Billion Mark Predicted for 2022.All through 2022, Cognizant witnessed substantial revenue growth. As reported in its 2022 annual report, its revenue in 2022 hit $19.4 billion, showing a 5% increase compared to 2021. This surpassed the $19.25 billion mark predicted for 2022.
30. Cognizant Recorded Growth in its Gross Profit, Which Amounted to $6.98 Billion Last Year.According to statistical data, Cognizant earned a gross profit of 6.98 billion dollars in the 2022 financial year. From 2021, this represents an increase of 1.12%.For the second quarter of 2023, gross profits amounted to $6.78 billion, representing a 3.85% decrease from last year.
31. Cognizant Recorded a Notable Annual Revenue Increase to $16.6 During the 2020 Financial Year.Cognizant's total revenue held at $16.6 billion. This achievement occurred in the 2020 financial year, coinciding with the significant effect of the global pandemic.
Cognizant Benefit Statistics
According to data from a survey, Cognizant employees admitted they are beneficiaries of health insurance as the organization's staff. Reports show that 100% have access to health insurance, and 84% of the employees enjoy life insurance. 64% of Cognizant staff enjoy mental health well-being benefits, and 55% enjoy gym membership. Other health benefits include dental, accident, vision, and eye care insurance.
33. Cognizant Staff Enjoy Maternity and Paternal Leave Benefits, Stock Options, Employee Discounts, 401(k) Plans, and Ten Days of Paid Vacation.Besides the health benefits, an AmbitionBox survey reveals that 100% of people working at Cognizant said they have access to maternity and paternity leave. 100% of the company's staff also said they enjoy other time off, such as annual leaves, while 27% enjoy career breaks or sabbatical leaves. Employees of Cognizant also get financial benefits. About 42% of Cognizant staff said they benefit from stock options (42%) and stock purchase plans, while 60% are 401(k) plan beneficiaries. Additionally, time-off bonuses of up to ten and employee discount days are added advantages that Cognizant employees enjoy.
34. Cognizant's Green Card Statistics Show That its Employees Can Receive Visa and Green Card Sponsorship, Flexible Work-from-home Opportunities, and Annual Performance Bonuses.Cognizant offers numerous benefits to its employees. They often get flexible work hours, some working-from-home days, and annual performance bonuses. Also, sponsorship on green and Visa cards are some other benefits enjoyed by employees at Cognizant. Although Cognizant provides its staff with Visa sponsorship, this benefit is not for people in all roles. Only qualified staff can secure an H-1B visa from Cognizant.
35. Cognizant Runs Assistance Programs and Employee Coaching Programs as Benefits for its Employees.Working at Cognizant surely has several accrue benefits. Cognizant supports its staff through employee assistance programs, mentoring schemes, annual performance bonuses, and health and insurance benefits.
36. Cognizant Raised $34 Million in its First IPO, Less Than Expected by the IMS Health Underwriters.Cognizant made around $34 million on the first attempt at an initial public offering in 1998. Unfortunately, the amount was below the expectations of the underwriters of the initial public offering of IMS. The IPO occurred after the parent organization spun off and moved its headquarters to the US in March 1998.
37. Cognizant is Comprised of Several Different Horizontal and Vertical Business Units.The company is categorized into horizontal and vertical units comprising business consultants. These consultants make up the Consulting team across all branches of Cognizant. The vertical unit is involved in:
- Manufacturing
- Retail
- Healthcare
- Banking and Finance
- Insurance
The horizontal unit is specialized in:
- Analytics
- Mobile Computing
- BPO
- Testing
A few years back, Cognizant and two of its former executives faced a lawsuit for violating the Foreign Corrupt Practices Act (FCPA). The SEC" charged the organization for violating anti-bribery, books and records, and internal accounting provisions in the Securities Exchange Act 1934. Investigation into the illegal acts was conducted, and Cognizant agreed to pay $25 million to settle violation charges. On the other hand, the former executives were accused of influencing the payment of bribes to an Indian government official. Some of the illegalities Cognizant was charged with included poor working conditions, corporate violations, tax evasion, bribery, corruption, and wage theft.
Cognizant Ranking in Fortune
The IT firm debuted on the Fortune 500 list of largest companies 17 years after its inception. As of 2011, Cognizant ranked 484 on Fortune's list of companies based on its revenue in 2010, which was worth $4.59 billion. Enlisted below is Cognizant's ranking on the Fortune 500's list since it was named:
| Year | Fortune 500 Rank |
| 2011 | 484 |
| 2012 | 398 |
| 2013 | 352 |
| 2014 | 308 |
| 2015 | 288 |
| 2016 | 230 |
| 2017 | 205 |
| 2018 | 195 |
| 2019 | 193 |
| 2020 | 194 |
| 2021 | 185 |
| 2022 | 194 |
| 2023 | 208 |
Companies are ranked by the respective revenues for their financial years on the Fortune 500's list. The 2020 fiscal year revenue of $16.7 billion impacted Cognizant's rank on the Fortune 500's list in 2021. By the end of 2020, the revenue moved the company's ranking from 194 to 185 on Fortune's list.
41. Cognizant's 2021 Fortune 500 ranking of No. 185 is its Highest Ranking Since it First Appeared on the Fortune 500 Company Rankings in 2011.Since appearing on the Fortune 500's list, Cognizant has grown significantly, rising from its initial position of 484 to 185 in 2021. This marks the highest point the company has attained since it secured a place on the list.
42. The Fortune Magazine Ranked Cognizant as the World's 5th Most Admired IT Service Provider in 2022.In 2022, Fortune 500 magazine recognized Cognizant as the world's fifth most admired IT Services Company. But this represents a slight shift from the position it held in 2015. Cognizant was named the 4th most admired IT Company in Fortune's 2015 list. According to Fortune's criteria, Cognizant was rated as follows:
| Fortune's Attributes of Reputation | Scores |
| Innovation | 4 |
| People management | 4 |
| Use of corporate assets | 4 |
| Social responsibility | 5 |
| Quality of management | 4 |
| Financial soundness | 4 |
| Long-term investment value | 4 |
| Quality of products/services | 4 |
| Global competitiveness | 4 |
To be listed on Fortune's list implies that Cognizant's score ranked in the top half of the IT services industry. Interestingly, Cognizant appeared on Fortune's World's Most Admired Companies for eleven consecutive years.
43. In 2017, Cognizant was Named to Fortune Magazine's List of Future 50 Companies.An outstanding IT firm was ranked in 2017 on Fortune's seventeenth Future 50 list of companies. Fortune's Future 50 list evaluates companies in terms of long-term growth and best prospects. The methodology for this ranking was leveraged on non-financial data to give insights into the future view.
44. From 2003 to 2012, Cognizant Surfaced on Fortune's List of the 100 Fastest Growing Companies."Due to the fast-paced growth of the IT firm experienced in the 2000s, Cognizant emerged on Fortune's 100 Fastest Growing Companies list. Since the company first appeared in 2003, the firm has been on the list for ten consecutive years.
45. In 2023, Cognizant Ranked 208 on the Fortune 500 List of Large Companies.With an annual revenue of $19.4 billion in 2023, the Information Technology servicing company is positioned at 208 on Fortune 500's companies list. However, this figure represents depreciation from the previous year's ranking at 194.
Wrapping UpCognizant offers IT and consulting expertise on IoT, AI, digital engineering, cloud computing, and key digital technologies to unlock business value. Its services are for clients in healthcare, life sciences, insurance, banking and finance, engineering, technology, retail, and modern enterprise competitors. These statistics provide a sneak peek into Cognizant's global presence, operations in over 40 countries, and numerous delivery centers. Also, they give insights into the history, employee data, and achievements of the IT firm since its inception till date.
Cognizant keeps making waves in the IT industry, experiencing revenue growth without being affected by many illegal acts recorded. Also, Cognizant has massively taken many unemployed individuals off the streets and has given more beauty to the IT industry. Cognizant's modules, interface, and diverse services it offers have helped in the management of different businesses. It'll be interesting to see this company continue on this upward trajectory.
FAQs What makes Cognizant special?Cognizant helps to keep client records updated and responsive by assisting in the design, development, and implementation of technologies. Additionally, for clients to keep up with the rapidly changing digital world, Cognizant helps to upgrade technology, reimagine processes, and change experiences.
Does Cognizant have acquisitions?Yes, it has a handful of acquisitions. In total, Cognizant acquired 78 companies around the world. The most recent Cognizant acquisitions between 2022 and 2023 were Mobica, Utegration, and Austin CSI. Some notable acquisitions by Cognizant are Bolder Healthcare, Mirabeau, and Code Zero Consulting.
What is Cognizant's ranking in Fortune?In 2023, Cognizant ranked 208 in the Fortune 500 list of companies. In addition, Fortune named Cognizant the fourth most admired company in the world in 2015. However, the company ranked fifth on Fortune magazine's list of most admired companies in 2022.
Sources- Crunchbase
- Statista
- Csimarket
- Financial Times
- Macrotrends
- GlobalData
- Cognizant
- Cognizant
- Macrotrends
- AmbitionBox
- Zippia
- SEC
- Fortune
- PR Newswire
- Fortune
- Cognizant
- Geeksforgeeks
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