Cognizant increases 2026 share repurchase target by $1B to $2B; board adds $2B to authorization

COGNIZANT TECHNOLOGY SOLUTIONS CORP

Board approved $2B increase to repurchase authorization; remaining capacity ~$3.45B as of May 17, 2026.
2026 repurchase target raised by $1B to $2B, with an additional $1B expected to be completed in Q2 2026.
Company will draw $1B from its revolving credit facility to fund buybacks, citing anticipated Astreya acquisition closing.
CEO Ravi Kumar S says share price significantly undervalues prospects; reiterates focus on AI-led transformation.

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