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Infosys Limited, Inc. (INFY)

- NYSE
  • Mon, Feb. 16, 3:44 AM
    • Infosys (NYSE:INFY) has agreed to acquire Panaya, a privately-held automation technology provider, for an enterprise value of $200M.
    • "The acquisition of Panaya is a key step in renewing and differentiating our service lines," said CEO Vishal Sikka. "This will help amplify the potential of our people, freeing us from the drudgery of many repetitive tasks."
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  • Fri, Jan. 9, 1:30 PM
    • Though Infosys (INFY +3.6%) missed FQ3 revenue estimates due to forex pressures (while posting in-line EPS), the company still expects 7%-9% FY15 (ends March '15) revenue growth at Sep. 30 exchange rates. Consensus (in absolute dollars) is for 9.1% growth.
    • While Q/Q revenue growth was 2.6% in constant currency, it was only 0.8% in absolute dollars. Gross client adds totaled 59, up from 49 in FQ2 and 54 a year ago. Headcount rose by 13,154 to 169,638.
    • Gross margin rose 260 bps Y/Y to 38.7%, helping EPS meet estimates in spite of the revenue miss. GAAP opex rose 14% to $266M, exceeding revenue growth of 5.6%. Op. margin rose 170 bps to 26.7%.
    • FQ3 results, PR
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  • Fri, Jan. 9, 9:10 AM
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  • Fri, Jan. 9, 5:16 AM
    • Infosys Limited (NYSE:INFY): FQ3 EPS of $0.46 in-line.
    • Revenue of $2.22B (+5.7% Y/Y) misses by $40M.
    • Press Release
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  • Thu, Jan. 8, 5:30 PM
  • Mon, Jan. 5, 1:25 PM
    • Infosys' (INFY -1.2%) FQ3 report will arrive at 2AM ET (12:30PM Indian Standard Time) on January 9. A CC will be held at 3:300AM ET (webcast on Infosys' IR site).
    • Consensus is for revenue of $2.26B (+7.4% Y/Y), and EPS of $0.43. In October, Infosys reiterated guidance for 7%-9% FY15 (ends March '15) revenue growth.
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  • Dec. 18, 2014, 1:14 PM
    • In addition to beating FQ1 estimates, Accenture (ACN +4.3%) has hiked its guidance for FY15 (ends Aug. '15) local currency revenue growth to 5%-8% from 4%-7%. On the other hand, forex is now expected to have 500 bps impact on revenue, up from a prior 200 bps.
    • As a result, FY15 EPS guidance has been lowered to $4.66-$4.80 from $4.74-$4.88 - consensus is at $4.81 - and FQ2 revenue guidance of $7.25B-$7.5B is mostly below a $7.46B consensus. The market appears to have discounted forex pressures in advance.
    • FQ1 new bookings totaled $7.7B, down from $8.7B a year ago. Consulting bookings fell to $3.9B from $4.3B, and outsourcing bookings to $3.8B from $4.4B.
    • Gross margin fell 110 bps Y/Y to 32.2%, but cost controls helped SG&A spend fall to 17.1% of revenue from 18.7%. As a result, op. margin rose 20 bps to 15%. $670M was spent on buybacks.
    • North America revenue +11% to $3.44B; Europe +5% to $2.91B; "Growth Markets" +3% to $1.55B. Forex respectively had 400 bps and 600 bps impacts on Europe and Growth Markets revenue growth.
    • Accenture has made new highs. Outsourcing rivals Infosys (INFY +3%), Wipro (WIT +4.9%), and Cognizant (CTSH +4.3%) are also outperforming on a good day for equities.
    • FQ1 results, PR
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  • Dec. 8, 2014, 9:56 AM
    • Four of Infosys' (NYSE:INFY) seven founders, including ex-chairman/CEO Narayana Murthy and ex-CEO S.D. Shibulal, sold 32.6M shares on the Indian market through an offering run by Deutsche, at a price 4% below Friday's close.
    • The sale lowers the combined stake held by the founders and their families to 5.1% from 8%, per Thomson Reuters. Shares had risen 23% since SAP vet Vishal Sikka was named CEO in June.
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  • Dec. 8, 2014, 3:06 AM
    • The families of four co-founders of Infosys (NYSE:INFY) have sold about 65B rupees ($1B) of stock to capitalize on a gain in their price and to fund various philanthropic activities.
    • Together, the group holds a combined 91.5M shares (nearly 8% of Infosys' outstanding shares), according to the company's annual report.
    • Shares are down 4.7% at 1,974 rupees in Mumbai.
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  • Nov. 18, 2014, 6:44 PM
    • Abraham Mathews, CFO of Infosys' (NYSE:INFY) large business process outsourcing (BPO) unit, has been fired on account of "not complying with [Infosys'] code of conduct. The unit's CEO, Gautham Thakkar, has resigned , taking responsibility for the matter on "moral grounds."
    • Infosys had already seen plenty of executive upheaval (I, II) over the last 18 months.
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  • Oct. 13, 2014, 9:19 AM
    • Deutsche has upgraded Infosys (NYSE:INFY) to Buy in the wake of its FQ2 beat and FY15 guidance reiteration.
    • The firm has also hiked its FY16 and FY17 estimates, and raised its target to INR4,400 ($72).
    • Previous: Sikka talks M&A, tech investments following Infosys' earnings
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  • Oct. 10, 2014, 6:41 PM
    • Though the Nasdaq fell 2.3%, Infosys (INFY +5.7%) posted big gains thanks to its FQ2 beat and FY15 revenue guidance reiteration. Shares made a fresh 52-week high of $63.56 before pulling back a bit.
    • Arihant Capital likes what it heard from the IT outsourcing giant. "Management has indicated faster decision making by clients helped the company grow faster ... It has also indicated increased traction in areas of cloud computing, mobile technology, energy."
    • New CEO Vishal Sikka used the day to declare Infosys will "embark on an active inorganic acquisition strategy, not to achieve growth, but to focus on acquiring core capabilities." Infosys, which had $5.4B in cash at the end of September, has historically shied away from big acquisitions.
    • Sikka, until recently a senior product exec at SAP, also promises big internal investments in new technologies, as Infosys tries to cut its dependence on slow-growing commodity outsourcing services (hurt by a secular shift towards cloud services spending).
    • Among other things, he proclaims Infosys is planning to build an analytics platform for enterprises that will cost "a fraction of what previous-generation analytics platforms did."
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  • Oct. 10, 2014, 9:07 AM
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  • Oct. 10, 2014, 1:01 AM
    • Infosys (INFY) +5.9% in India after posting strong FQ2 results.
    • EPS of $0.89 beats consensus by $0.08.
    • Revenue at $2.20B (+3.2% Y/Y) in line with consensus.
    • The company revenue maintained revenue guidance at 7%-9%.
    • The company declares 1:1 stock dividend.
    • Interim Dividend of approx. $0.49/share.
    • 49 clients were added in FQ2, down from 61 in FQ1 and 68 a year ago.
    • Net addition of 4.1K employees, raising Infosys' total headcount to 165.4K.
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  • Oct. 9, 2014, 5:30 PM
  • Sep. 18, 2014, 6:56 AM
    • Infosys (NYSE:INFY) has signed a global partnership agreement with Chinese IT giant Huawei to offer enterprise customers cloud, big data and communication solutions.
    • The two will also provide other enterprise-oriented services by combining Huawei's cloud infrastructure and Infosys' global IT service expertise.
    • Huawei and Infosys will also explore setting up a joint lab in China to support better delivery in all areas of the partnership.
    • INFY +1.7% premarket
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Company Description
Infosys Ltd provides end-to-end business solutions, including consulting, design, development, software re-engineering, maintenance, systems integration, package evaluation and implementation and infrastructure management services.
Sector: Technology
Country: India