Cognizant increases 2026 share repurchase target by $1B to $2B

Cognizant (CTSH) has authorized a $2B increase to its existing share repurchase program, and that it has increased its share repurchase target for 2026 to $2B, an increase of $1B over its prior expectation. The additional $1B in share repurchases are expected to be completed during Q2. With this increase, as of May 17, there is approximately $3.45B remaining under the share repurchase authorization. In connection with this plan and given the anticipated closing of its acquisition of Astreya, the company will draw down $1B from its existing revolving credit facility.