Tech and Retail Firms Accelerate Share Buybacks, Deploying Billions in Capital Return
Six companies across the technology and retail sectors have significantly intensified their share repurchase programs, authorizing and executing billions in buybacks.
Coverage: 6 of 11 companies in this theme (BBY, DOCU, P, VEEV, CXM, PATH) — a sample, not the full set.
A clear trend of accelerated capital return is emerging across the technology and retail sectors, with six of eleven covered companies—Best Buy, DocuSign, Veeva Systems, Sprinklr, UiPath, and Pure Storage—significantly expanding their share repurchase programs. The intensification is marked by new, large-scale authorizations and the rapid execution of buyback plans.
The most aggressive activity is seen in software and cloud services. DocuSign's board authorized an additional $1 billion for repurchases in May 2024, and the company has since executed at a rapid pace, spending $869.1 million in its fiscal year ended January 2026 and $317.5 million in just the first quarter of fiscal 2027. Similarly, Sprinklr completed a $300 million authorization and a subsequent $150 million program before its board authorized a new $200 million program in March 2026, which included a $125 million accelerated share repurchase (ASR) transaction.
Other firms are following suit with fresh, multi-billion-dollar mandates. Veeva Systems launched a new $2 billion repurchase program in January 2026, while UiPath authorized a new $500 million program in March 2026 after fulfilling its prior $1 billion in combined authorizations. Pure Storage added $400 million to its authorization in December 2025, bringing its total remaining capacity to $420.0 million.
The retail sector is also a major participant. Best Buy's board approved a new $5.0 billion program in February 2022, and the company has maintained a steady pace, repurchasing $3.5 billion in fiscal 2022 and planning approximately $1.5 billion annually for fiscal years 2023 and 2024.
This wave of buybacks signals a strategic shift toward returning capital to shareholders, likely driven by strong cash flows and a belief in the companies' intrinsic value. The use of accelerated share repurchase (ASR) agreements, as seen at Sprinklr, indicates a desire to execute these programs swiftly and decisively.
Source: company public filings.