Cognizant Technology Solutions Corporation Buyback
OLI recorded this information on 3/7/2019
Company:
Cognizant Technology Solutions Corporation
Buyback:
CTSH buyback
$Amount Authorized:
$600,000,000
Buyback Details:
Cognizant Technology Solutions Corporation (Nasdaq: CTSH), today announced that it has entered into accelerated share repurchase ("ASR") agreements with HSBC Bank USA, National Association and Societe Generale to repurchase an aggregate of $600 million of Cognizant's Class A common stock. The ASR announced today is part of the Company's previously announced capital return plan to utilize approximately 50% of its global free cash flow1 on an annual basis for share repurchases and dividends.
Cognizant Technology Solutions is a services company, transforming customers' business, operating and technology models for the digital era. Co.'s services include digital services and solutions, consulting, application development, systems integration, application testing, application maintenance, infrastructure services and business process services. Additionally, Co. develops, licenses, implements and supports proprietary and third-party software products and platforms. Co. has organized its services and solutions into four practice areas: Digital Business, Digital Operations, Digital Systems and Technology and Consulting.
Cognizant Technology Solutions SEC Filing Email Alerts Service
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Avg. Broker Rec.
 
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Buy (3.00 out of 4) 33rd percentile
(ranked lower than approx. 67% of all stocks covered)
Analysts' Target Price: CTSH Stock Forecast Based on Zacks ABR data; powered by Xignite |
