Cognizant increases share repurchase plan by $2 billion, plans to buy back $1.1 billion.

From Yahoo Finance: 2025-03-25 09:56:00

Cognizant Technology approves a $2 billion increase to its share repurchase plan, bringing the total authorized amount to $3.1 billion. The company plans to buy back $1.1 billion in shares this year, $500 million more than previously expected. Shares rose 1.7% ahead of investor day, where long-term growth plans will be shared.

Cognizant faces challenges with choppy IT services demand due to economic uncertainties and high interest rates. The company forecasted annual revenue below analysts’ estimate last month. Activist investor Mantle Ridge has been in discussions with Cognizant since mid-2024, building a stake worth over $1 billion and privately engaging about boosting share price.



Read more at Yahoo Finance: Cognizant boosts share buyback plan by $2 billion