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IGTE $47.99

IGTE target price
47.99
0
0
IGATE Corporation
Former type
subsidiary
Industry IT services, BPO
Fate acquired by Capgemini
Founded 1996
Defunct 2015
Headquarters Bridgewater, New Jersey, U.S.
Area served
North America, Europe, Japan & Australia
Key people
Srinivas Kandula (Chief Executive Officer)
Services IT and Outsourcing services
Revenue Increase US$ 1.27 billion (2014)
Number of employees
31,453 (March, 2015)
Parent Capgemini
Website www.igate.com

IGATE was an IT services company, headquartered in Bridgewater, New Jersey, United States. The firm operated in North America, Asia, Europe, Japan and Australia, providing technology consultancy and services. Its revenues in 2014 were over US$1.2 billion, and it has a workforce of over 31,000. The firm had over 70 offices and customer delivery centers in North America, Europe, Asia and Australia. On April 27, 2015 French IT services group Capgemini unveiled a deal to acquire IGATE in a $4bn deal.

In 2011, IGATE, acquired Patni Computer Systems–a company three times its size at the time. With a value of around a billion US dollars, this acquisition was the largest cross-border leveraged transaction in the IT sector. The acquisition was accomplished over 12 months, including the delisting of Patni from the Indian bourses and consolidating the shareholder value in the U.S. Initially. iGATE firm changed its name to iGATE Patni. It was changed to IGATE again on 7 May 2012. Its shares are listed on the NYSE as "IGATE". On 27 April 2015, Capgemini announced it would be acquiring IGATE, the transition would be completed over a phase of 6 months. IGATE CEO Ashok Vemuri announced his departure on 6 October 2015.

IGATE's key services included Application Development and Application Maintenance, Business Intelligence and Analytics, Business Process Outsourcing, Cloud Services, Enterprise Mobility, Infrastructure Management Services, P&ES Embedded systems, Product Verification and Validation(P&ES), and Verification & Validation(V&V).

Its customer delivery centers were located in Pensacola, Florida; El Paso, Texas; Sterling, Virginia, United States; Guadalajara, Mexico; Mississauga, Ontario, Canada; Stockholm, Sweden; London, UK; Ballarat, Australia; Suzhou, China; and Mumbai, Bangalore, Pune, Chennai, Hyderabad, Noida and Gandhinagar in India. Its training and development facility, IGATE Corporate University, was in Pune.

Situated on 50 acres (200,000 m) of land in the Navi Mumbai area, this campus included facilities for software development, training, customer care, and employee recreation. The IGATE (Patni) Knowledge Park accommodates 17,000 professionals. The IGATE Knowledge Centre, set up with an investment of 1.75 billion rupees, complements the organization's green initiatives around efficient utilization and conservation of energy, water and natural resources. Developed on Green Architecture, the centre is spread over 5 acres (20,000 m) and has a seating capacity of over 3500.

The facility was designed and constructed as per the guidelines of LEED (Leadership in Energy and Environmental Design) India Green Building Rating System for New Construction.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS

Ratings

2015-05-09 Reiterated Rating Maxim Group Hold $55.00 to $48.00
2015-05-07 Downgrade SunTrust Buy to Neutral
2015-05-07 Downgrade SunTrust Banks Inc. Buy to Neutral
2015-04-30 Downgrade Maxim Group Buy to Hold $55.00 to $48.00
2015-04-28 Downgrade RBC Capital Outperform to Sector Perform $42.00 to $48.00
2015-04-28 Downgrade Royal Bank Of Canada Outperform to Sector Perform $42.00 to $48.00
2015-04-27 Downgrade Noble Financial Buy to Hold
2015-04-27 Downgrade Jefferies Group Buy to Hold $44.00 to $48.00
2015-04-27 Downgrade William Blair Outperform to Market Perform
2015-04-17 Boost Price Target Maxim Group Buy $47.00 to $55.00
2015-04-15 Boost Price Target SunTrust Buy $45.00 to $48.00
2015-01-22 Set Price Target Noble Financial Buy $50.00
2015-01-21 Lower Price Target Maxim Group Buy $52.00 to $47.00
2015-01-16 Initiated Coverage Deutsche Bank Buy $46.00
2015-01-16 Initiated Coverage Deutsche Bank AG Buy $46.00
2015-01-12 Set Price Target Jefferies Group Buy $39.00 to $47.00
2014-12-19 Initiated Coverage SunTrust Buy $44.00
2014-12-02 Initiated Coverage JPMorgan Chase & Co. Neutral
2014-08-15 Initiated Coverage Maxim Group Buy $52.00
2014-08-14 Reiterated Rating RBC Capital Outperform $48.00 to $45.00
2014-07-17 Downgrade Nomura Neutral to Reduce $29.00 to $35.00
2014-07-17 Boost Price Target Needham & Company LLC Buy $48.00 to $50.00
2014-07-17 Downgrade Nomura Holdings Inc. Neutral to Reduce $29.00 to $35.00
2014-07-11 Initiated William Blair Outperform
2014-07-10 Initiated Coverage William Blair Outperform
2014-07-07 Upgrade Noble Financial Hold to Buy
2014-07-01 Upgrade Jefferies Group Hold to Buy $38.00 to $43.00
2014-05-19 Reiterated Rating Noble Financial Hold
2014-04-14 Reiterated Rating Jefferies Group Hold $35.00 to $38.00
2014-02-24 Downgrade Janney Montgomery Scott Buy to Neutral $46.00
2014-01-17 Boost Price Target Jefferies Group $29.00 to $37.00
2013-12-20 Boost Price Target Needham & Company LLC $39.00 to $48.00
2013-10-11 Boost Price Target Jefferies Group Hold $19.00 to $29.00
2013-10-11 Reiterated Rating Needham & Company LLC Buy $33.00 to $39.00
2013-10-04 Downgrade Nomura Buy to Neutral $28.00 to $29.00
2013-09-19 Boost Price Target Needham & Company LLC Buy $28.00 to $33.00
2012-01-30 Reiterated Oppenheimer Outperform $18 to $22
2011-12-09 Initiated RBC Capital Mkts Outperform $20
2011-08-30 Reiterated Kaufman Bros Buy $23 to $18
2011-04-13 Initiated Kaufman Bros Buy $23
2010-12-21 Initiated Oppenheimer Outperform $27
2010-05-03 Initiated Jefferies Buy $15
2010-01-28 Initiated Global Hunter Securities Buy $16
2009-07-22 Upgrade Needham Hold to Buy $9
2009-07-22 Reiterated Roth Capital Buy $5.50 to $8
2009-01-16 Reiterated Roth Capital Buy $10 to $9
2008-10-13 Upgrade Roth Capital Hold to Buy $10
2008-10-02 Reiterated Roth Capital Hold $11 to $10
2008-09-10 Downgrade Roth Capital Buy to Hold $11
2008-07-18 Reiterated Needham Buy $10 to $11
2008-03-10 Reiterated Roth Capital Buy $10 to $11
2008-02-21 Reiterated Needham & Co Buy $12 to $10
2015-05-09 Reiterated Rating Maxim Group Hold $55.00 to $48.00
2015-05-07 Downgrade SunTrust Buy to Neutral
2015-05-07 Downgrade SunTrust Banks Inc. Buy to Neutral
2015-04-30 Downgrade Maxim Group Buy to Hold $55.00 to $48.00
2015-04-28 Downgrade RBC Capital Outperform to Sector Perform $42.00 to $48.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Funds

In IGTE 1 funds of 2213 total. Show all

Fund name Ticker shares
MANAGED ACCOUNT ADVISORS LLC 250

Major Shareholders

Name Relationship Total Shares Holding stocks
Viscaria Ltd 34.68%  (20430698) IGTE /
APAX PARTNERS EUROPE MANAGERS LTD 32.90%  (19383398) IGTE /
Apax Guernsey (Holdco) Ltd 32.90%  (19383398) IGTE /
Apax Europe VII GP Co. Ltd 23.76%  (13998292) IGTE /
Apax Europe VII GP L.P. Inc. 23.76%  (13998292) IGTE /
Apax Europe VII-B, L.P. 15.13%  (8912703) IGTE /
MURTHY PHANEESH President and CEO 1.11%  (655292) IGTE /
Vemuri Ashok President and CEO 0.68%  (400000) IGTE / XRX /
Tugnait Sanjay Vishwanath EVP & Head of Sales: N America 0.25%  (150000) IGTE /
Kemp Derek See Remarks 0.25%  (150000) IGTE /
Narayanan Sean Suresh Chief Delivery Officer 0.24%  (142763) IGTE /
Joshi Satish M. See Remarks 0.22%  (126660) IGTE /
Khare Vijay P. See Remarks 0.21%  (121476) IGTE /
Idgunji Prashanth Chief Accounting Officer 0.01%  (5906) IGTE /