Cognizant Leverages Credit Facility to Fund $1 Billion Share Buyback Program
Strategic Capital Allocation Cognizant Technology Solutions, the US-based IT services powerhouse, announced last week in filings with the Securities and Exchange Commission that it will utilize $1 billion from an existing revolving credit facility to finance a massive share buyback program. This strategic move, disclosed via Nasdaq filings, marks a departure from the cash-on-hand approach…