iGATE Corp. Insider Sells $194,670 in Stock (IGTE)
iGATE Corp. (NASDAQ:IGTE) Insider Sean Suresh Narayanan sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $27.81, for a total transaction of $194,670.00. Following the completion of the transaction, the insider now directly owns 142,763 shares in the company. The sale was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on IGTE shares. Analysts at Janney Montgomery Scott upgraded shares of iGATE Corp. (NASDAQ:IGTE) from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, September 11th. They now have a $30.00 price target on the stock, up previously from $20.00. They noted that the move was a valuation call. Separately, analysts at Sidoti upgraded shares of iGATE Corp. (NASDAQ:IGTE) from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, August 28th. Finally, analysts at Zacks downgraded shares of iGATE Corp. (NASDAQ:IGTE) from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, August 16th. They now have a $26.30 price target on the stock.
Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. iGATE Corp. has an average rating of “Buy” and a consensus price target of $24.38.
Shares of iGATE Corp. (NASDAQ:IGTE) traded down 0.65% during mid-day trading on Wednesday, hitting $27.63. The stock had a trading volume of 212,108 shares. iGATE Corp. has a 1-year low of $13.98 and a 1-year high of $28.86. The stock has a 50-day moving average of $23.94 and a 200-day moving average of $18.96. The company has a market cap of $1.600 billion and a P/E ratio of 25.26.
iGATE Corp. (NASDAQ:IGTE) last released its earnings data on Wednesday, July 17th. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.34 by $0.10. The company had revenue of $283.30 million for the quarter, compared to the consensus estimate of $279.28 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts expect that iGATE Corp. will post $1.79 EPS for the current fiscal year.
iGATE Corporation (NASDAQ:IGTE) is an outsourcing provider of integrated end-to-end offshore centric information technology (IT) and IT-enabled operations solutions and services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.