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Cognizant Technology Solutions initiates $1.5B accelerated share repurchase

  • Through agreements with Barclays, Citibank and UBS, roughly 21.5M shares are set to be bought back (to be received March 14, 2017).
  • Funding will be sourced from cash on hand and by means of a credit facility already in place.
  • Cognizant Technology Solutions (NASDAQ:CTSH+1.45%, $60.11 pre-market.

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Cognizant Technology Solutions Corporation