TMT Online ObServer "GLOB/CINT: IT Services buybacks accelerating with G..."

Research evidence excerpt

TMT Online ObServer "GLOB/CINT: IT Services buybacks accelerating with G..."

Global Research

19 May 2026ab

TMT Online ObServer Equities

Emerging MarketsGLOB/CINT: IT Services buybacks accelerating

with GLOB's new $125mn program; AMX/TIGO: Telecommunications

Potential higher spectrum caps in Colombia Leonardo Olmos,AnalystCFA

leonardo.olmos@ubs.com

+55-11-9658 7533

GLOB/CINT: IT Services buybacks accelerating with GLOB's new $125mn program Gustavo Farias

Associate Analyst

What happened: Last Thursday (May 14), GLOB's Board approved a new buyback gustavo.farias@ubs.com

program authorizing up to $50mn per quarter, capped at $125mn in aggregate, +55-11-2767 6154

running through 4Q27. This follows the completion of the company's previous

$125mn program (October 2025), having already repurchased $50mn of shares in

1Q26 alone.

Cognizant raised total buyback authorization by $2bn and doubled 2026

buyback target: Yesterday, Cognizant's Board approved a $2bn increase to its

share repurchase authorization, taking remaining capacity to ~$3.45bn. The

company expects to deploy $2bn during 2026 (raising the year's target by

$1bn), with the incremental $1bn expected to be repurchased in 2Q26 alone.

Other IT Services peers have also announced buybacks: EPAM authorized a

new $1bn share repurchase program in October 2025 and executed a $300mn

accelerated share repurchase in March 2026, bringing total buybacks executed

in 1Q26 to $324mn and leaving ~$430mn remaining under its current

authorization at quarter-end. Accenture added $5bn to its authorization at

FY25 results in September 2025, with ~$4.4bn remaining as of February 28,

2026. We also note that both Infosys and Wipro announced buyback tender

offers, in Nov-25 (Rs 18,000 cr / ~$2bn, 2.4% of share capital at the announced