Cognizant Discusses Growth Strategy and Multi-Year Outlook at 2021 Investor Briefing

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[{"type":"text","content":"- Highlights company's momentum in its growth strategy and establishing digital leadership\n - Introduces 2022-2024 outlook: annual constant currency revenue growth of 8% to 11% and annual operating margin expansion of 20 to 40 basis points\n\n\nTEANECK, N.J., Nov. 18, 2021 /PRNewswire/ -- Cognizant (Nasdaq: CTSH), a leading provider of information technology, consulting, and business process services, today hosted a virtual Investor Briefing to provide an update on its growth strategy and financial targets.\n\n \n \n \n \n \n \n\n \n\"We continue to make strong progress in positioning the company for sustained revenue growth and margin expansion,\" said Brian Humphries, Chief Executive Officer. \"By executing a growth strategy, which includes strengthening our digital portfolio, partnerships, and commercial engine, while investing in our global delivery network, people, and capabilities, we can help clients with their most strategic initiatives across their transformation journeys. I am excited about the global opportunities that lie ahead to accelerate our growth, expand margins, and deliver enhanced long-term shareholder value.\"\nEvent Overview\nDuring the Investor Briefing, CEO Brian Humphries provided an update on Cognizant's strategy to drive growth and long-term shareholder value, including:\nAccelerating digital, shifting of the portfolio toward high-growth digital services Globalizing Cognizant, scaling internationally Increasing relevance to clients, investing in industry expertise to help clients be successful Repositioning the brand, strengthening Cognizant's brand credentialsThe company also provided an update on ongoing initiatives to support its people and strengthen its operations.\n2022-2024 Financial Targets\nCognizant believes that the strategic levers outlined during the company's Investor Briefing will drive accelerated long-term growth. As part of today's event, CFO Jan Siegmund shared additional detail on Cognizant's updated financial framework and capital deployment priorities, including the following targets for 2022-2024:\nRevenue growth of 8% to 11% annually, in constant currency1 Operating margin expansion of 20 to 40 basis points annually Free cash flow expected to be deployed as follows: 50% to strategic acquisitions 25% to share repurchases 25% to dividendsWebcast Information\nA replay of the webc...

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