Cognizant, a provider of global consulting, technology and business process services, has announced that it has authorised a share repurchase program of up to US$50 million of the Company’s common stock over the next 12 months.

Repurchases under the program may be made through open market purchases or privately negotiated transactions in accordance with applicable US federal securities laws. The program will be funded using the company’s cash on hand and cash generated from operations.