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Nirmal Bang Report
Cognizant Technology Solutions' organic constant currency revenue growth for 2022 at the midpoint of its revenue growth guidance is at 8% in constant currency terms (8.5%-11.5% is the range including inorganic component of 200 basis points).
We had expected the range to be 100-150 bps higher as was hinted at during the investor day in November 2021. It is possible that Cognizant is being conservative and that as the year rolls by, the guidance will be moved up.
The rest of the management commentary suggests that the demand continues to looks robust-
attrition is expected to remain elevated through the rest of 2022,
while digital has been the growth driver what we are seeing in company results across the industry is that non-digital parts are holding up well at low single digit growth rates unlike the single digit and low teen declines that were visible pre-pandemic.
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