Cognizant Technology Solutions (NASDAQ: CTSH) provides information technology consulting and technology services in North America, Europe, and Asia. Specialties involve business process consulting, custom systems development, data warehousing, customer relationship management, enterprise resource planning system implementation, and software testing services. The firm serves companies in the financial services, healthcare, manufacturing, retailing, telecommunications, and information services markets. The client list includes such names as Advanced Micro Devices (NYSE: AMD), Aetna (NYSE: AET) and Nokia (NYSE: NOK).

The Street was surprised earlier in the month, when the company reported Q4 EPS of 34 cents and revenues of $600 million. Analysts had been looking for 31 cents and $594.4 million. Management also guided Q1 EPS to 32 cents (32 cent consensus), Q1 revenues to at least $640 million ($632.24M consensus), FY08 EPS to $1.50 ($1.47 consensus) and FY08 revenues to at least $2.95 billion ($2.87B consensus). Stifel Nicolaus subsequently reiterated its "buy" recommendation on the shares and declared a $43 price target

Its location among the mid Atlantic states has made New Jersey a transportation hub, a manufacturing and commerce center, and a source of plenty of investment opportunities. Twenty-four Fortune 500 companies are headquartered there. And four companies from New Jersey made Fortune's 2007 list of the fastest growing companies in the U.S.: Cognizant Technology Solutions (NASDAQ: CTSH), Celgene Corp. (NASDAQ: CELG), inVentiv Health Inc. (NASDAQ: VTIV), and Jackson Hewitt Tax Service Inc. (NYSE: JTX).

Cognizant has been on Fortune's list of fastest growing companies for the past five years. This Teaneck-based member of the S&P 500 is a global IT services firm with clients in the health care, financial services, and manufacturing industries. Cognizant's three-year annual revenue growth rate was 56 percent; its three-year annual earnings per share growth rate was 55 percent. The consensus of analysts surveyed by Thomson Financial is that Cognizant is a buy, and the company has beat Wall Street expectations for the past four quarters. The share price of $85.79 at close on Friday is up from the 52-week low of $67.60 in September. The price has risen since Cognizant announced a stock split and share repurchase program in September, and the Motley Fool has since dubbed Cognizant a hypergrowth stock.

Summit-based Celgene is a biopharmaceuticals firm involved in cancer treatment and stem cell research. Its three-year annual revenue growth rate was 48 percent; its three-year annual earnings per share growth rate was 33 percent. The consensus of analysts surveyed by Thomson Financial is that Celgene is a buy. The share price reached a 52-week high of $72.91 on Friday. The Motley Fool recognized Celgene for its sustainable competitive advantage over its rivals, and Jim Cramer also likes Celgene.