Cognizant Technology Solutions

CEO: Francisco D'Souza

Dec. 30, 2016: $56.03

March 31, 2017: $59.52

Change: +6.23%

In late November, activist investor Elliott Management, which acquired a 4 percent stake in Cognizant, called on Cognizant to shake up its board of directors and buy back $2.5 billion in shares as part of what it called a value enhancement plan aimed at driving up share prices by 50 to 69 percent in 2017.

In February Cognizant, No. 7 on the CRN Solution Provider 500, reached an agreement with Elliott under which the solution provider promised to appoint three new directors to its board and create a three-person financial policy committee to assist and advise the board on issues relating to the company's operating plan and capital allocation policy.

The company also promised to invest more in new technology practices, target non-GAAP operating margins of 22 percent by 2019, and return $3.4 billion to shareholders in the next two years through share repurchases and dividends.