The global IT firm held its place for the 10th year in a row on Fortune's Fastest Growing Companies list, despite ongoing debt problems in Europe -- its second-largest market after North America.
The company first made the list in 2003, taking the No. 66 spot. It has made the list every year since, settling in at no. 83 in 2012. Though Cognizant is based in the U.S., most of its operations and workforce are in India, where in 2011 it overtook Wipro Ltd. as the country's third largest software exporter by sales. In 2012, it surpassed India's IT bellwether Infosys for the second top spot.
Looking ahead, its uncertain how Cognizant will fair as Europe's debt crisis could potentially get worse. The company has warned the region would remain a drag on sales. In May, Cognizant lowered its full-year forecast for the first time in nearly four years.
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