eGain ( NASDAQ:EGAN – Get Free Report ) declared that its board has initiated a share repurchase plan on Thursday, September 4th, RTT News reports. The company plans to buyback $20.00 million in shares. This buyback authorization authorizes the technology company to buy up to 11.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its shares are undervalued.