Igate Stock Hits New 52-Week High (IGTE)

NEW YORK ( TheStreet) -- Igate Corporation (Nasdaq: IGTE) hit a new 52-week high Tuesday as it is currently trading at $19.77, above its previous 52-week high of $19.64 with 43,643 shares traded as of 10:20 a.m. ET. Average volume has been 263,000 shares over the past 30 days.

Igate has a market cap of $1.11 billion and is part of the technology sector and computer software & services industry. Shares are up 23.8% year to date as of the close of trading on Monday.

iGATE Corporation provides outsourced information technology (IT) and IT-enabled operations solutions and services worldwide. The company has a P/E ratio of 36.1, below the average computer software & services industry P/E ratio of 48.7 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, solid stock price performance, growth in earnings per share and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Igate Ratings Report.

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