In this piece, we will take a look at the top 15 digital transformation companies in the U.S. For more companies, head on over to Top 5 Digital Transformation Companies in the U.S.
Digital transformation is a diverse field and one that continues to evolve with time. As the name suggests, this sector simply involves the transformation of traditional, analog sources of data or business processes into digital data and processes for a host of different benefits. It traces its way back to the 1950s when the semiconductor was invented and allowed the conversion of analog computing to digital computing. The next big shifts started to occur from the 1960s onward, with the introduction of computer aided design in manufacturing in the 70s. Before this, digital planning systems started to make their way across corporations as a method of letting them manage their inventory in the 1960s. From then on, these systems were expanded to also bring materials requirement planning (MRP) and manufacturing resource planning (MRP II) to firms. All these were brought under the umbrella of what is now termed enterprise resource planning (ERP), a leading technology that continues to evolve today and is at the heart of what is termed a digital transformation.
However, backend processes are not the only ones that have been digitally transformed. The late 1990s were the era of the Internet, and naturally, this was blended with the newly set up ERP systems. This integration enabled firms to communicate with each other to share different information such as delivery status, order invoices, and demand forecasts. The latter is particularly important for avoiding the bullwhip effect, which is the result of a demand mismatch between two companies at different ends of the supply chain. Finally, another aspect of digital transformation is the digital storefront, which allows companies to interact with customers over the Internet.
Naturally, the vast scope and the countless benefits offered by digital transformation lead to some impressive market valuations. A fresh report from Polaris Market Research estimates that the industry was worth $588 billion in 2021. From then, until 2030, the research firm expects it to grow at a strong compounded annual growth rate (CAGR) of 23.6% to be worth an estimated $3.7 trillion. Polaris Market further outlines that the healthcare segment was the largest portion of digital transformation in 2021, and North America was the dominating region.
Today's piece will focus on some leading digital transformation companies that offer their products and services in the segment. The top players are Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOGL), and Broadcom Inc. (NASDAQ:AVGO).
We studied the current enterprise computing landscape to sift out which firms are providing digital transformation services. They are ranked according to their market capitalization, and hedge fund sentiment courtesy of Insider Monkey's Q3 2022 survey of 920 funds is also provided.
Market Capitalization as of December 8, 2022: $20.9 billion
Hewlett Packard Enterprise Company (NYSE:HPE) is an American firm that is thought by many to be the first of the iconic Silicon Valley technology companies that were set up in a garage. The firm is headquartered in Houston, Texas.
Hewlett Packard Enterprise Company (NYSE:HPE) offers its customers several different products and solutions for their digital transformation. These range from big data analytics, artificial intelligence, the Internet of Things, and cloud and hybrid information technology infrastructure.
Insider Monkey's Q3 2022 survey covering 920 hedge funds revealed that 42 had held a stake in Hewlett Packard Enterprise Company (NYSE:HPE).
Hewlett Packard Enterprise Company (NYSE:HPE)'s largest investor is Richard S. Pzena's Pzena Investment Management which owns 30 million shares that are worth $362 million.
Hewlett Packard Enterprise Company (NYSE:HPE) joins Alphabet Inc. (NASDAQ:GOOGL), Microsoft Corporation (NASDAQ:MSFT), and Broadcom Inc. (NASDAQ:AVGO) as one of the leading digital transformation companies in America.
Market Capitalization as of December 8, 2022: $30.3 billion
Dell Technologies Inc. (NYSE:DELL) is a technology firm that sells client and infrastructure products such as laptops, data center racks, and servers. The company is based in Round Rock, Texas.
Dell Technologies Inc. (NYSE:DELL)'s digital transformation solutions have enabled customers to drastically reduce the time that developers spend in non writing tasks through automating infrastructure and consolidating development pipelines. Additionally, its unique approaches such as an internal cloud have enabled stakeholders to have regular access to data without burdening themselves with bureaucratic hurdles.
49 of the 920 hedge funds part of Insider Monkey's third quarter of 2022 survey had held a stake in Dell Technologies Inc. (NYSE:DELL).
Steven Cohen's Point72 Asset Management is Dell Technologies Inc. (NYSE:DELL)'s largest hedge fund shareholder through a $139 million stake that comes via 4 million shares
Market Capitalization as of December 8, 2022: $30.5 billion
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is an American firm that provides technology consulting and outsourcing services globally. It is based in Teaneck, New Jersey.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) portfolio has some of the most diverse options for digital transformation in the industry. It allows users to access artificial intelligence, quality control, software product engineering, security, process automation, and infrastructure modernization for technological advancements.
By the end of this year's September quarter, 39 of the 920 hedge funds polled by Insider Monkey had bought Cognizant Technology Solutions Corporation (NASDAQ:CTSH)'s shares.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH)'s largest investor is Richard S. Pzena's Pzena Investment Management which owns 14.2 million shares that are worth $818 million.
Market Capitalization as of December 8, 2022: $43.5 billion
Workday, Inc. (NASDAQ:WDAY) is a cloud application services provider. The firm provides finance, operations, and human resource management products. It is headquartered in Pleasanton, California.
Workday, Inc. (NASDAQ:WDAY) lets its customers adapt new technologies such as artificial intelligence and machine learning, access data in real time, develop cross functional teams, and apply advanced analytics while not being constrained by traditional ERP systems. This has different benefits, as Workday, Inc. (NASDAQ:WDAY)'s customers are not locked in a single technology and might be able to save deployment costs as well.
As part of their Q3 2022 investments, 92 of the 920 hedge funds part of our survey had invested in Workday, Inc. (NASDAQ:WDAY).
Out of these, Stephen Mandel's Lone Pine Capital is Workday, Inc. (NASDAQ:WDAY)'s largest shareholder. It owns 5 million shares that are worth $764 million.
Market Capitalization as of December 8, 2022: $63 billion
Equinix, Inc. (NASDAQ:EQIX) provides digital infrastructure solutions for business process consolidation. It is based in Redwood City, California.
Equinix, Inc. (NASDAQ:EQIX) has enabled some of the world's biggest technology firms to transform themselves. These include HP increasing its network power efficiency, Schneider driving business growth, and Dell blending together its applications and workflows.
39 of the 920 hedge fund portfolios studied by Insider Monkey for their September quarter of 2022 investments had bought a stake in Equinix, Inc. (NASDAQ:EQIX).
Equinix, Inc. (NASDAQ:EQIX)'s largest shareholder is Ian Simm's Impax Asset Management which owns 645,937 shares that are worth $366 million.
Market Capitalization as of December 8, 2022: $80 billion
ServiceNow, Inc. (NYSE:NOW) is a cloud computing platform provider for automation and big data analytics. The firm is based in Santa Clara, California.
ServiceNow, Inc. (NYSE:NOW) enables firms to automate manual and repetitive tasks, study equipment down time statistics to boost efficiency, employ artificial intelligence for predictive analytics, and perform real time data analytics for improving customer experience.
Insider Monkey's Q3 2022 study of 920 hedge funds revealed that 103 had held a stake in ServiceNow, Inc. (NYSE:NOW).
ServiceNow, Inc. (NYSE:NOW)'s largest investor in our database is Chase Coleman and Feroz Dewan's Tiger Global Management LLC which owns 1.6 million shares that are worth $639 million.
Market Capitalization as of December 8, 2022: $129.8 billion
SAP SE (NYSE:SAP) is a name that is synonymous with enterprise resource planning (ERP) software. The firm was set up with the aim of centralized planning in mind in 1972 and is based in Germany.
SAP SE (NYSE:SAP) technologies affect digital transformation in every aspect of a company's value chain. This includes running linear and non linear optimization for workflow and production management, performance management, customer satisfaction, growth, strategy, and culture.
17 of the 920 hedge funds polled by Insider Monkey during this year's third quarter had bought SAP SE (NYSE:SAP)'s shares
SAP SE (NYSE:SAP)'s largest investor is Ken Fisher's Fisher Asset Management which owns 6.7 million shares that are worth $549 million.
Market Capitalization as of December 8, 2022: $130 billion
Salesforce, Inc. (NYSE:CRM) is an American firm that allows for customer relationship management, performance management, and targeted advertising.
Salesforce, Inc. (NYSE:CRM) customers can use its products to accelerate revenue growth by digitalizing their accounts, creating sales plans for goal achievement, increasing mortgage accessibility, and improving return on investment (ROI) by process automation and omni channel optimization.
Insider Monkey profiled 920 hedge funds for 2022's September quarter to discover that 117 had invested in Salesforce, Inc. (NYSE:CRM).
Out of these, Ken Fisher's Fisher Asset Management is Salesforce, Inc. (NYSE:CRM)'s largest investor. It owns 12.2 million shares that are worth $1.8 billion.
Market Capitalization as of December 8, 2022: $132.5 billion
International Business Machines Corporation (NYSE:IBM) is an American technology company that has evolved over the years to transform itself from an infrastructure and consumer firm to an enterprise software and hardware company.
International Business Machines Corporation (NYSE:IBM)'s technologies are nearly ubiquitous when it comes to digital transformation. An example is the company's partnership with a Saudi state owned water company to use International Business Machines Corporation (NYSE:IBM)'s S/4HANA ERP system for revitalizing multiple domains such as supply chain, human resource, and finance.
40 of the 920 hedge funds part of Insider Monkey's third quarter of 2022 survey had bought a stake in International Business Machines Corporation (NYSE:IBM).
International Business Machines Corporation (NYSE:IBM)'s largest investor in our database is Peter Rathjens, Bruce Clarke, and John Campbell's Arrowstreet Capital which owns 4.3 million shares that are worth $515 million.
Market Capitalization as of December 8, 2022: $154.6 billion
Adobe Inc. (NASDAQ:ADBE) provides different products and solutions that range from letting individuals carry out their productivity tasks to organizations achieving their business goals. It is based in San Jose, California.
Adobe Inc. (NASDAQ:ADBE) has enabled public and private entities to improve their business processes. For instance, its partnership with the U.S. state of Illinois enabled the latter to improve website and road traffic management and effectively combat the coronavirus. Additionally, Adobe Inc. (NASDAQ:ADBE) also allowed a Dutch healthcare company to improve its appointment scheduling.
Insider Monkey's Q3 2022 survey of 920 hedge funds revealed that 93 had bought Adobe Inc. (NASDAQ:ADBE)'s shares.
Adobe Inc. (NASDAQ:ADBE)'s largest investor is Ken Fisher's Fisher Asset Management which owns 5.1 million shares that are worth $1.4 billion.
Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOGL), Adobe Inc. (NASDAQ:ADBE), and Broadcom Inc. (NASDAQ:AVGO) are some of the top digital transformation firms in the U.S.
Click to continue reading and see Top 5 Digital Transformation Companies in the U.S.
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Disclosure: None. Top 15 Digital Transformation Companies in the U.S. is originally published on Insider Monkey.
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