{
  "docId": "019dd923-622c-750b-8b9c-50b46d52e1ad",
  "docSlug": "773321d6b0d7",
  "documentTitle": "Cognizant Technology Solutions (CTSH)",
  "authorId": "02_Elliott_Management",
  "authorName": "Jesse Cohn",
  "documentKindSlug": "shareholder-letter",
  "documentKindLabel": "Shareholder letter",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2016-11-28 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 2,
  "pageCount": 16,
  "prevPage": 1,
  "nextPage": 3,
  "slideType": "peer_benchmark",
  "function": "compare_peers",
  "density": "dense",
  "nDataPoints": 25,
  "notes": "The slide uses a table to highlight Cognizant's stock underperformance relative to various indices and peer groups over 1-5 year periods.",
  "elementsJson": [
    "paragraph",
    "headline_text",
    "comparison_table",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9c-50b46d52e1ad/2",
  "deckHref": "/decks/019dd923-622c-750b-8b9c-50b46d52e1ad",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-50b46d52e1ad.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-50b46d52e1ad#slide-2",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Cognizant's stock price performance tells the story of deep underperformance across all relevant benchmarks, including its closest peers, over all time periods during the last five years.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0f1e-7015-901c-89a77173cbdc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Total Shareholder Return: (83%)",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-0f1e-7015-901c-8e9d21a8a783",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.78,
        "x": 0.11,
        "y": 0.53
      },
      "kind": "paragraph",
      "text": "Despite this leading position, however, Cognizant's stock price performance tells the story of deep underperformance across all relevant benchmarks, including its closest peers, over all time periods during the last five years.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "45b9e310-8f22-4e42-9af4-70a6601173f6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.78,
        "x": 0.11,
        "y": 0.12
      },
      "kind": "paragraph",
      "text": "Elliott is an investment firm founded in 1977 that today manages approximately $30 billion of capital for both institutional and individual investors.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fd4919e5-4f9e-4074-88f4-09dab18aac0a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.4,
        "x": 0.11,
        "y": 0.79
      },
      "kind": "source-note",
      "text": "Source: Bloomberg as of November 25, 2016. Assumes dividends are reinvested.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "683bee1c-1feb-4f35-b812-0f13c06177f4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.78,
        "x": 0.11,
        "y": 0.63
      },
      "kind": "table",
      "text": "Relative Total Shareholder Return table showing performance vs S&P500, NASDAQ, and peers over 1-5 years.",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e5fddee3-7df2-4cc0-b6ac-05c904840284",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.15,
        "x": 0.11,
        "y": 0.09
      },
      "kind": "title",
      "text": "About Elliott",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bfe14135-de09-4a70-b412-ee315f381138",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.25,
        "x": 0.11,
        "y": 0.35
      },
      "kind": "title",
      "text": "The Cognizant Opportunity",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d09c3b5d-f72e-4f70-b51b-1e263d139c29",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "comparison_frame",
      "slug": null,
      "matchId": "8280514f-8141-496a-a073-02bdd90c7010",
      "evidence": "The slide explicitly compares Cognizant's TSR against multiple benchmarks and peer groups to demonstrate underperformance.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 4,
      "from": 1,
      "beatId": "40d72abb-8bb2-46a1-8a06-bd34a7a377ec",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Problem (Identify pain)",
      "beatSlug": "problem-agitate-solution-problem-identify-pain",
      "evidence": "The document identifies Cognizant's underperformance and the need for change.",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": "Complication",
      "parentBeatSlug": "complication"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}