BuybackMay 18, 2026, 08:12 AM
Cognizant Boosts Buyback Authorization by $2B; 2026 Target to $2B
AI Summary
Cognizant's Board of Directors approved a $2 billion increase to its existing stock repurchase program, bringing the total remaining authorization to approximately $3.45 billion as of May 17, 2026. The company also raised its 2026 share repurchase target by $1 billion to $2 billion, with the additional $1 billion expected to be completed in the second quarter of 2026. To fund this, Cognizant will draw $1 billion from its revolving credit facility, considering the upcoming Astreya acquisition. CEO Ravi Kumar S will also participate in a J.P. Morgan conference fireside chat today.
Key Highlights
- Board approved a $2 billion increase to the existing stock repurchase program.
- Approximately $3.45 billion remains under the share repurchase authorization as of May 17, 2026.
- Increased 2026 share repurchase target by $1 billion to $2 billion.
- Additional $1 billion in repurchases expected to be completed in the second quarter of 2026.
- Company will draw $1 billion from its revolving credit facility to fund the repurchases.
- CEO Ravi Kumar S to participate in a J.P. Morgan conference fireside chat on May 18, 2026.
Price Impact
More from CTSH