Igate Reaches New 52-Week High (IGTE)

NEW YORK ( TheStreet) -- Igate Corporation (Nasdaq: IGTE) hit a new 52-week high Friday as it is currently trading at $19.54, above its previous 52-week high of $19.47 with 827,643 shares traded as of 1:25 p.m. ET. Average volume has been 204,700 shares over the past 30 days.

Igate has a market cap of $968.8 million and is part of the technology sector and computer software & services industry. Shares are up 9.2% year to date as of the close of trading on Thursday.

iGATE Corporation provides outsourced information technology (IT) and IT-enabled operations solutions and services worldwide. The company has a P/E ratio of 43.5, below the average computer software & services industry P/E ratio of 44.9 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Igate as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Igate Ratings Report.

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