Stock repurchase programs often lead to a positive market reaction as they can indicate that the company believes its stock is undervalued. By reducing the number of shares outstanding, EPS (earnings per share) may increase, potentially leading to a higher stock price in the short term. Given the substantial amount allocated ($125 million), this move by MeridianLink is likely to be viewed positively by investors, reflecting confidence in the company's future prospects and a commitment to returning value to shareholders.