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 and engineering business. Co.'s services include digital services and solutions, and systems integration. Co.'s services and solutions are organized into four integrated practices: Core Technologies and Insights, which helps clients build organizations that apply cloud, data, software, and Internet of Things; Enterprise Platform Services, which helps clients digitally transform multiple front- and back-office business processes; Intuitive Operations and Automation, which helps clients build and run operations; and Software and Platform Engineering, which helps clients develop enterprises through digital products, services and solutions.
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Hold (2.19 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: CTSH Stock Forecast Based on Zacks ABR data; powered by Xignite |