Rising demand for global outsourcing services pushed shares of Cognizant Technology Solutions Corp. up 55 percent in 2006, making the company one of the top five tech performers in the S&P 500 this year.
Cognizant provides offshore information technology and other business services, with centers in China, India and other locations worldwide.
Shares jumped in May after the company reported a 48 percent increase in profit, helped by higher demand for technology services across all industries. Customers in the media, telecom, financial services and health care industries contributed to the stronger-than-expected results.
Cognizant also issued full-year earnings guidance that beat Wall Street's expectations, then raised its outlook when reporting another blockbuster quarter in August.
The stock was selected in November to join the Standard & Poor's 500 index.
Also in November, the company said it would spend more than $200 million through 2008 to expand its India operations, adding new facilities in five cities _ Chennai, Coimbatore, Hyderabad, Kolkata and Pune _ and hiring more than 30,000 employees.
Shares of Cognizant traded at their lowest point on Jan. 18, touching $48.51 on the Nasdaq. The stock climbed as high as $82.49 on Dec. 12, before closing at $77.87 on Thursday, a full-year gain of $27.60, or 55 percent.
Source: Chron
Showing posts with label Indian IT. Show all posts
Showing posts with label Indian IT. Show all posts
Sunday, December 31, 2006
Wednesday, December 20, 2006
Cognizant Steps up its SEI CMMI level
Cognizant, a leading provider of IT services, announced today that the Company's software development and delivery center in Coimbatore, India has become the first in the world to be successfully appraised at Maturity Level 5 of the latest version 1.2 of Capability Maturity Model® Integration (CMMI) through the latest version 1.2 of Standard CMMI Appraisal Methodology for Process Improvement (SCAMPI). The appraisal was conducted by an independent SEI Authorized High Maturity Lead Appraiser from KPMG between November 27 and December 8, 2006.
CMMI Maturity Level 5 is the highest level of process maturity that independently verifies an organization's capabilities to continuously enhance its processes through incremental and innovative process and technological improvements. CMMI Maturity Level 5 affirms the organization's ability to statistically manage the sub-processes in order to achieve process and business objectives.
"We are very proud of this achievement, as it further reinforces our commitment to continuous process maturity and innovation that enhances the value of solutions we provide to our customers," said R Chandrasekaran, Managing Director and President of Global Delivery, Cognizant. "This independent appraisal is a clear indication that Cognizant can deliver the highest levels of quality to customers through continuous process improvements in every location that we expand to globally. This new capability accentuates our customer-centric culture by providing greater transparency to our customers from project execution and enhanced structuring of the decision- making process to metrics management."
"Continuous improvement has become a way of life for Cognizant's Coimbatore Center," said Mr. V Sankaran, KPMG - SEI Authorized SCAMPI Lead Appraiser. "This center has consistently adapted to various quality initiatives and emerging industry best practices, keeping value addition to customers in mind. The leadership team at Cognizant has consistently demonstrated commitment towards superior process and quality. The greatest strength of the organization is the empowerment and opportunity to implement process improvement initiatives by associates at all levels, ensuring that high maturity practices will sustain for the long term. With their focus on continuous process improvements, Cognizant Coimbatore has successfully transitioned to the latest version of the model, CMMI v1.2."
Cognizant's Coimbatore Center has developed a unique operational model that integrates best practices such as CMMI, lean manufacturing and six sigma concepts to improve operational efficiency and productivity. To reach this level, Cognizant demonstrated structured process improvement and innovations categorized under Efficiency aiders, People aiders, Process aiders and Productivity aiders with a goal of achieving substantial process and business benefits.
The Carnegie Mellon® Software Engineering Institute (SEI) had released the latest version 1.2 of CMMI model and latest version 1.2 of Standard CMMI Appraisal Methodology for Process Improvement (SCAMPI) in August 2006. Subsequently, SEI authorized only a selected few High Maturity Lead Appraisers (HMLA) after undergoing a stringent evaluation criteria. The CMMI Level 5 appraisal for Cognizant was carried out by Mr. V Sankaran, SEI Authorized High Maturity Lead Appraiser from KPMG.
Source: Coimbatore News
CMMI Maturity Level 5 is the highest level of process maturity that independently verifies an organization's capabilities to continuously enhance its processes through incremental and innovative process and technological improvements. CMMI Maturity Level 5 affirms the organization's ability to statistically manage the sub-processes in order to achieve process and business objectives.
"We are very proud of this achievement, as it further reinforces our commitment to continuous process maturity and innovation that enhances the value of solutions we provide to our customers," said R Chandrasekaran, Managing Director and President of Global Delivery, Cognizant. "This independent appraisal is a clear indication that Cognizant can deliver the highest levels of quality to customers through continuous process improvements in every location that we expand to globally. This new capability accentuates our customer-centric culture by providing greater transparency to our customers from project execution and enhanced structuring of the decision- making process to metrics management."
"Continuous improvement has become a way of life for Cognizant's Coimbatore Center," said Mr. V Sankaran, KPMG - SEI Authorized SCAMPI Lead Appraiser. "This center has consistently adapted to various quality initiatives and emerging industry best practices, keeping value addition to customers in mind. The leadership team at Cognizant has consistently demonstrated commitment towards superior process and quality. The greatest strength of the organization is the empowerment and opportunity to implement process improvement initiatives by associates at all levels, ensuring that high maturity practices will sustain for the long term. With their focus on continuous process improvements, Cognizant Coimbatore has successfully transitioned to the latest version of the model, CMMI v1.2."
Cognizant's Coimbatore Center has developed a unique operational model that integrates best practices such as CMMI, lean manufacturing and six sigma concepts to improve operational efficiency and productivity. To reach this level, Cognizant demonstrated structured process improvement and innovations categorized under Efficiency aiders, People aiders, Process aiders and Productivity aiders with a goal of achieving substantial process and business benefits.
The Carnegie Mellon® Software Engineering Institute (SEI) had released the latest version 1.2 of CMMI model and latest version 1.2 of Standard CMMI Appraisal Methodology for Process Improvement (SCAMPI) in August 2006. Subsequently, SEI authorized only a selected few High Maturity Lead Appraisers (HMLA) after undergoing a stringent evaluation criteria. The CMMI Level 5 appraisal for Cognizant was carried out by Mr. V Sankaran, SEI Authorized High Maturity Lead Appraiser from KPMG.
Source: Coimbatore News
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