IT services and consulting company Infosys has completed the acquisition of Czech Republic-based GuideVision, one of the largest ServiceNow Elite Partners in Europe. The company had initially announced an agreement to acquire GuideVision last month.
The GuideVision acquisition is expected to further enhance Infosys’ (INFY) digital capabilities and strengthen its Cobalt portfolio of cloud services. The company expects GuideVision’s training academy and nearshore capabilities in Czech Republic, Hungary, Poland, and presence in Germany and Finland to boost its ServiceNow capabilities and assist its clients in Europe in cloud-first digital transformation.
The deal reaffirms the company’s commitment to the growing ServiceNow (NOW) ecosystem by adding GuideVision’s end-to-end offerings, including SnowMirror—a proprietary smart data replication tool for ServiceNow instances. The tool enables over 100 enterprise clients to simplify complex business and IT processes.
ServiceNow is one of the fastest-growing enterprise software companies and according to Infosys it is an ‘essential service’ for organizations. (See INFY stock analysis on TipRanks).
Most recently, BMO Capital’s Keith Bachman reiterated his Hold rating for Infosys and raised his price target from $11 to $13. Bachman stated, “We believe that we are getting closer to a bottom in run rate during the June Q, even as we are generally lowering our near-term estimates, albeit modestly.”
“At this juncture, we are not changing our ratings on Genpact, Infosys, and Cognizant shares, and all remain Market Perform rated, since we still believe that uncertainty remains in regards to demand trends in 2H20, though our bias is positive on the stocks” Bachman added.
Currently, the Street has a cautiously optimistic outlook on Infosys stock. The Moderate Buy consensus is based on 4 Buys and 3 Holds with no Sells. The average analyst price target of $13 implies a possible downside of about 4.9% with shares already advancing 32.4% year-to-date.
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