Here's Why Infosys Gained 13% Last Month
Shares of technology consulting and services name Infosys (NYSE: INFY) advanced 13.4% in June, according to data from S&P Global Market Intelligence. The move, largely driven by the addition of new clients, tops off a 119% advance for the 12-month stretch ending last month.
India's Infosys does a little of everything in terms of information technology, from general consulting to the implementation of digital transformations to overhauls of personnel recruiting and retention paradigms. This flexibility against a backdrop of a quickly changing IT landscape -- the advent of cloud computing and artificial intelligence in particular -- offers companies of this ilk plenty of opportunity to add customers that generate recurring revenue.
And Infosys has done this -- into, through, and now coming out of the pandemic. In early June the company revealed a new partnership with the French Tennis Federation that will allows broadcasters, journalists, and even fans to plug into an AI-powered app that brings the game closer to all interested parties. Just a few days later the company announced it would be working with natural gas compression outfit Archrock to provide its field service technicians with new digital and mobile tools. Last month's rally may have also been at least partially fueled by May's news that Infosys will be helping steer soft drinks company Britvic through a digital transformation.
Source Fool.com
