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#	AUTHOR DATE SUBJECT
17	member 5/09/12 6:02PM update? 16
Hawkeye, do you still follow this one? Obviously it has gotten a lot more complicated but the results of CTSH seem at odds with IGTE trading near its highs. view available tags
16	member 11/30/10 11:37AM thoughts on Patni acquisition?
Software services company iGate Corp. (IGTE) is looking to raise up to $700 million to help fund its joint bid with Apax Partners LLP to take control of rival Patni Computer Systems Ltd. (532517.BY), two... login to read the rest view available tags
15	member 10/28/10 11:25AM RE: thoughts post quarter? 14
My view remains the same. I think the customer concentration + tax rate going up + insider sales make this an interesting opportunity. view available tags
13	member 10/13/10 5:44PM RE: RE: RE: Does IGTE have any competitive 12
I think the most important things are (1) the acknowledgement that pent up demand has had a large impact this year, (2) the fact that taxes will be going up dramatically and (3) the filing... login to read the rest view available tags
11	member 9/24/10 9:09AM RE: Does IGTE have any competitive advantages 10
Thanks for the question. On the margin front - 50% of the bump can be directly tied to currency and fully depreciated assets. My numbers merely assume this part is unstainable. I suspect the margin is... login to read the rest view available tags
10	member 9/23/10 7:18PM RE: RE: Does IGTE have any competitive advantages 9
Hawkeye, thanks for the write-up. I got pitched this idea when it was $10 and didn't like it (much to my regret) so I was initially intrigued with your write-up. Howevever, after doing some work... login to read the rest view available tags
9	member 9/23/10 10:11AM RE: Does IGTE have any competitive advantages 8
No, I don't believe it does have any sort of real competitive edge. I agree it is a commodotized industry and up until the past few quarters (when the RBC revenue bump and the margin... login to read the rest view available tags
7	member 9/21/10 4:07PM RE: RE: RE: RE: Question 6
Almost all of the employees are in India and the company probably records almost all of its revenues in India to avoid paying taxes generated from taxable jurisdictions. It is probably aggressive but has allowed view available tags
2	member 9/21/10 11:15AM RE: RBC 1
The company has developed a relationship as an outsourced IT provider with RBC over the years and maintains a good relationship. Historically, this made fine sense because IGTE was not making an outsized profit. But, to my... login to read the rest view available tags
1	member 9/21/10 10:55AM RBC
what is the genisis behind RBC's large revenue contribution? Are there any connections between RBC and IGTE that would encourage RBC to continue to grow their biz with IGTE without hammering them on price. I... login to read the rest view available tags

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			2010	2011
Price:	19.17	EPS	$0.80	$0.50
Shares Out. (in M):	56	P/E	24.0x	38.0x
Market Cap (in $M):	1,070	P/FCF	24.0x	38.0x
Net Debt (in $M):	104	EBIT	48	35
TEV (in $M):	970	TEV/EBIT	20.0x	28.0x
Borrow Cost:	NA

Description

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