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Trade-Ideas: Igate Corporation (IGTE) Is Today's Pre-Market Mover With Heavy Volume Stock

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Igate Corporation ( IGTE) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Igate Corporation as such a stock due to the following factors:

  • IGTE has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $8.2 million.
  • IGTE traded 37,975 shares today in the pre-market hours as of 8:58 AM, representing 13.3% of its average daily volume.

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More details on IGTE:

iGATE Corporation provides outsourced information technology (IT) and IT-enabled operations solutions and services. The stock currently has a dividend yield of 0.6%. IGTE has a PE ratio of 23.7. Currently there are 3 analysts that rate Igate Corporation a buy, no analysts rate it a sell, and 4 rate it a hold.

The average volume for Igate Corporation has been 266,700 shares per day over the past 30 days. Igate has a market cap of $1.6 billion and is part of the technology sector and computer software & services industry. The stock has a beta of 1.55 and a short float of 2.6% with 2.11 days to cover. Shares are up 77.6% year to date as of the close of trading on Friday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Igate Corporation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and attractive valuation levels. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

Highlights from the ratings report include:

  • The revenue growth came in higher than the industry average of 15.3%. Since the same quarter one year prior, revenues slightly increased by 5.7%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • Powered by its strong earnings growth of 322.22% and other important driving factors, this stock has surged by 54.47% over the past year, outperforming the rise in the S&P 500 Index during the same period. Turning to the future, naturally, any stock can fall in a major bear market. However, in almost any other environment, the stock should continue to move higher despite the fact that it has already enjoyed nice gains in the past year.
  • IGATE CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, IGATE CORP increased its bottom line by earning $1.12 versus $0.51 in the prior year. This year, the market expects an improvement in earnings ($1.80 versus $1.12).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the IT Services industry. The net income increased by 137.0% when compared to the same quarter one year prior, rising from $12.65 million to $29.97 million.

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