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Infosys Growth Meets Headwinds (INFY, WIT, CTSH)

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By Jon C. Ogg Published
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Infosys Technologies Limited (NASDAQ: INFY) is now a $40 billion IT-outsourcing outfit.  The company has reported Q2 earnings at $0.65 EPS versus Thomson Reuters estimates of $0.61; Revenues were up almost 30% at $1.5 billion versus estimates of $1.43 billion. For the Fiscal-2011, Infosys expects each ADS to see $2.54 to $2.58 EPS and to see $5.95 to $6 billion in total revenues.  Thomson Reuters has estimates of $2.50 EPS and $5.79 billion.

The India-based IT-outsourcing outfit also recognized that giant currency fluctuations are a large concern.  New hires were said to over 7,000.

The first take is that shares have gotten ahead of themselves and that shares are fully valued.  We’ll pass a final judgment later because of a recent run-upin shares.

Infosys closed at $71.01 yesterday and the 52-week range is $45.24 to $71.99; shares are indicated down 2% at $69.60 in early indications.

Wipro Ltd. (NYSE: WIT) is a direct competitor indicated down over 1% and “The U.S Indian Outsourcer” is Cognizant Technology Solutions Corp. (NASDAQ: CTSH) and shares are indicated down only marginally.

JON C. OGG

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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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