Cognizant

In the US morning of 2 August 2011, Cognizant Technology Solutions overthrew Wipro to become the third largest IT company in India.The Nasdaq-listed firm announced revenues of $1.48 billion, 34 percent higher from a year ago, beating market expectations. Net profit jumped 21 percent to $208.04 million. In an interview with Forbes, Cognizant CFO Gordon Coburn said: “It was a terrific quarter.”Wipro's head Azim Premji, seemed to expect this outcome when he had said earlier during the course of their results announcement, that Wipro had many weaknesses in sectors like Banking and Financial Services. More than half of Cognizant revenue is from these sectors.Cognizant began as the technology arm of Dun & Bradstreet Corporation in 1994. Running operations out of India they were the first IT company to list on the NASDAQ in 1998.In 2009, Cognizant joined Fortune's "Most Admired Companies" list.