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And I think thats part of whats created the increase in shareholder value that weve seen. Cognizant Technology Solutions Corp.a software-services and data-warehousing provider in Teaneck, New Jersey, did even better with an annualized TSR of 62 percent. Over the past five years, it grew its sales from 178 million to 1. 4 billion and increased earnings more than 10-fold. It has no debt on its balance sheet, only just announced its first stock-buyback program, and has limited its acquisitions in recent years to small, strategic buys - companies that could expand its geographic reach into a new niche or provide access to technologies or industry knowledge.
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