Core Insights - Three large software companies have announced significant buyback programs in response to recent declines in their share prices, indicating a belief that their stocks are undervalued [2][3] Group 1: Okta - Okta has authorized a $1 billion buyback program following a significant drop in its share price, which has decreased nearly 28% from its 52-week high of approximately $127 to around $92 [3][4] - The buyback program represents about 6.1% of Okta's market capitalization of roughly $16.4 billion, showcasing the company's confidence in its long-term opportunities [4] Group 2: Veeva Systems - Veeva Systems, a healthcare technology company, has also announced its first-ever buyback program, despite its shares being up approximately 11% over the past 52 weeks [5] - The company provides cloud-based software solutions for biotech and pharmaceutical companies, aiding in data management and process streamlining from research to commercialization [5] Group 3: Market Sentiment - The announcements of buyback programs from these companies reflect a broader sentiment in the software industry that shares are undervalued, with analysts noting potential upside for companies like Guidewire, which has seen a nearly 30% decline [6]