Cognizant said midterm growth will accelerate to 7-11% in constant currency terms and the US-listed company expanded its buyback authorisation to $5 billion. The Teaneck, New Jersey-headquartered company held its first investor day last Friday, spelling out its goals for the next three to five years, including spending a quarter of its free cash flow on acquisitions. “On the revenue side, we see potential for the growth to accelerate in the midterm as digital opportunities expand,” Karen McLoughlin, chief financial officer at the IT services company, told analysts.