Cognizant, a leading IT services provider, has announced that its Board of Directors has approved a $2 billion increase to its existing share repurchase program, bringing the total authorization for share repurchases to $3.45 billion.
The company has also raised its share repurchase target for 2026 to $2 billion, an increase of $1 billion from its previous expectations. The additional $1 billion in repurchases is expected to be completed by the second quarter of 2026, as stated by the company.
“Our plan to increase the amount of share repurchase reflects our strong conviction in the long-term opportunities presented by AI and our critical role as an AI builder,” said Ravi Kumar S, CEO of Cognizant. He noted, “We believe a fundamental shift in the IT services landscape is underway, which will strengthen Cognizant’s position for future growth. Our current share price significantly undervalues these prospects. I am confident that our early investments will position us to emerge as a leader in AI-led enterprise transformation in the years ahead.”
The announcement was made public on May 18, 2026.
