NEW YORK (TheStreet) -- Shares of Infosys (INFY - Get Report) are down by 0.05% to $18.32 in early-afternoon trading on Thursday, as the company's head of artificial intelligence platform "Mana," Samson David, resigned this morning, the day before the company announces its 2016 first quarter results.
David is the fifth "high-level exit" from the India-based business consulting and information technology services company in the last two years, the Economic Times reports. In addition to heading the artificial intelligence program, David was also in charge of Infosy's "cloud, infrastructure, and security unit," which brings in over $1 billion in revenue.
Infosys head of architecture and technology, Navin Budhiraja, said in a past interview that the company was depending on AI to move it forward: "What I see going forward is "Mana" becoming the centerpiece of all of the automation work that we do," the Times said.
David will join Hewlett Packard Enterprise (HPE) as head of its enterprise services delivery business, the Times wrote.
Infosys is expected to report 13.2% year-on-year growth in net profit and 18.8% year-on-year growth in revenues before the market opens on Friday.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate INFOSYS LTD as a Buy with a ratings score of A-. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, solid stock price performance and increase in net income. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity.
You can view the full analysis from the report here: INFYINFY data by YCharts