Infosys (INFY) to Lead LKQ Europe's System Transformation
Infosys INFY has entered a partnership with a significant European company operating in the automotive segment. Its five-year deal with LKQ Europe will involve the integration of multiple business processes and systems by Infosys that will support LKQ Europe’s Information Technology-related business transformation.
In this collaboration, Infosys will utilize its enterprise resource planning expertise to improve LKQ’s efficiency. It will standardize business processes by unifying disparate systems. The two companies will focus on increasing LKQ Europe’s product availability and delivery speed to customers.
This marks another European deal in the automotive segment for Infosys, following its recent collaboration with smart Europe GmbH, an automotive brand in the European electric vehicle market. Among Infosys’ other European deals in 2023 are partnerships with Danske Bank, Keytrade Bank, Stark Group, ABN AMRO and ng-voice GmbH. Infosys secured eight massive deals in Europe in the second quarter of fiscal 2024.
Infosys Limited Price and Consensus
Infosys Limited price-consensus-chart | Infosys Limited Quote
INFY is receiving a positive response from its clients for its digital transformation offerings. As clients concentrate on consolidating their vendors, Infosys is reaping the rewards with more robust deals. During the second quarter of 2024, the firm also secured 12 major deals from America.
However, Infosys is grappling with short-term uncertainties such as inflation, elevated interest rates and fluctuations in supply and demand. The company is experiencing softness among clients from the financial sector and energy sector, as well as the conservative stance of EURS clientele in its discretionary expenditure.
Zacks Rank and Stocks to Consider
Infosys currently carries a Zacks Rank #4 (Sell). Shares of INFY gained 1.8% year to date.
Some better-ranked stocks from the broader technology sector are Baidu BIDU, Blackbaud (BLKB) and Crexendo CXDO, each carrying Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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BIDU’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 14.95%. Shares of Baidu have climbed 2.8% year to date.
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CXDO’s earnings beat the Zacks Consensus Estimate in the preceding three quarters while missing the same on one occasion, the average surprise being 241.67%. Shares of Crexendo have climbed 116.3% year to date.
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