The 2021 Fortune 500, Fortune Magazine’s annual ranking of America’s largest companies, debuted June 2 and while the New Jersey companies on the list are no surprise, some of their change in rankings are.
The 2021 list features 16 companies from the Garden State. The 67th edition ranking of America’s largest companies is based on 2020 revenue. Together, the 500 corporations on this year’s list generated $13.8 trillion in revenue or some two-thirds of the U.S. economy.
Notable moves of New Jersey companies on the list include Quest Diagnostics, which experienced the biggest jump, climbing 86 places to rank No. 324. The Secaucus-based diagnostic testing, information and services company has more than 44,500 employees with its shares of the company up more than 6% in the past one year, and year-to-date it is also up more than 6%. Quest also saw its revenue increase 22.1% to $9.437 billion.
Another gainer, Cognizant’s 2020 revenue of $16.7 billion moved the company up to its current rank of No. 185 from No. 194. The Teaneck-based company provides IT and consulting expertise in IoT, artificial intelligence, digital engineering, cloud and other key digital technologies to unlock business value and help clients in health care, life sciences, insurance, banking and finance, manufacturing, technology, retail and other industries compete as modern enterprises.
“We’re pleased to move up the ranks of the Fortune 500,” said Cognizant Chief Executive Officer Brian Humphries in a press release. “We are focused on helping clients deliver exceptional experiences created at the intersection of cloud and digital. I’m grateful to all of our associates for putting their hearts into living client-centricity under the difficult conditions created by the COVID-19 pandemic. We expect to emerge into a post-COVID world as a stronger, more focused and disciplined company positioned for strategic and financial success.”
Advancing 45 places was Madison-headquartered Realogy Holdings, which now ranks at No. 445. The real estate services provider experienced a 6% gain in revenue clocking in at $6.221 billion.
New Brunswick-based Johnson & Johnson moved down one spot from last year, but still remains the leader on the list of Garden State companies ranking at No. 36 with revenue of $82.584 billion.
Roseland-headquartered ADP, climbed 19 spaces to No. 208 with a 2.9% revenue increase.
Parsippany’s PBF Energy moved down 78 spots and now sits at No. 203 with a 38.3% decrease in revenue.
Here’s the complete list of New Jersey companies included in the 2021 Fortune 500:
Johnson & Johnson
Becton Dickinson and Co. (BD)
Cognizant Technology Solutions
Automatic Data Processing (ADP)
Bed Bath & Beyond
Public Service Enterprise Group (PSEG)
Campbell Soup Co.
Avis Budget Group