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  "documentTitle": "Cognizant Technology Solutions (CTSH)",
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  "authorName": "Jesse Cohn",
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  "presentationDate": "2016-11-28 00:00:00",
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      "text": "The Cognizant Value-Enhancement Plan calls for a 23.0% adjusted operating margin in FY18E, as compared to a 19.7% operating margin in FY15.",
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      "text": "Senior IT Services Executives, Top-Tier Consulting Firm, Operations Consultant, IT Purchasers, Investment Bank",
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      "text": "Implementation of Operational Best Practices: ... our Cognizant Value-Enhancement Plan calls for a 23.0% adjusted operating margin in FY18E, as compared to a 19.7% operating margin in FY15.",
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      "text": "Today, Elliott is formally requesting a meeting with the Board to share the details of an operational plan that we believe will create significant value for stockholders.",
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      "text": "It is necessary to frame this target in the context of Cognizant's direct peers... Cognizant today operates at an 18.0% operating margin, whereas its closest ADM-oriented peers TCS and Infosys operate at comparable margins of 26.6% and 25.4%, respectively.",
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