Business Today
Back To Basics
The management outlined a mid-term strategy that shifts the focus back to growth from mere profitability.
Back To Basics

Technology giant Cognizant held its first ever investor-meet in New York on November 18. The management outlined a mid-term strategy that shifts the focus back to growth from mere profitability as it now expects mid-term growth in the range of 7-11 per cent.

Cognizant intends to spend a quarter of its free operating cash flow on acquisitions, and expects digital business to grow between 20 and 25 per cent year-on-year with enhanced focus.

Cognizant, despite being a Nasdaq listed stock, has been underperforming this past year in comparison to peers such as Accenture, Infosys, and TCS. Analysts and investors raised concerns over Cognizant's growth even as the company continued the search for a CEO. The investor meet, however, seems to have helped calm nerves.

Get latest news & live updates on the go on your phone with our News App. Download The Business Today news app on your device
More from The Buzz