Cognizant launches $500 million accelerated share repurchase program

Cognizant Technology Solutions Corp. (NASDAQ: CTSH) announced it has entered into accelerated share repurchase agreements with Truist Bank and BNP Paribas to buy back $500 million of its Class A common stock.

The technology services company said approximately 7.8 million shares will be delivered to Cognizant on May 21, 2026. The final number of shares repurchased will depend on the volume-weighted average stock price of Cognizant's Class A common stock, less a discount and subject to potential adjustments under the agreement terms.

The accelerated share repurchase is part of Cognizant's updated 2026 share repurchase plan that was announced on May 18, 2026, according to the company's statement.

Cognizant describes itself as an AI builder and technology services provider. The Teaneck, New Jersey-based company trades on the Nasdaq stock exchange.

You May Also Be Interested In

• Orchid Island Capital expands buyback program, estimates book value rise
• TechnipFMC wins $75M–$250M flexible pipe deal offshore Angola
• Aelis Farma discloses share buyback program details