Yesterday, iGATE Corporation (NASDAQ:IGTE) saw its Director, Webster Roy Dunbar, complete a disposition of 66,000 shares in Common Stock. The sale was executed directly, for a price of $38.00 per share and the insider also exercised his use of employee stock options. While this was Dunbar’s first stock disposition of the fiscal year, other insiders at the $2.2 billion market cap information technology firm have been more active. The firm’s Chief People Officer, Srinivas Kandula, for one, sold 3,561 shares of Common Stock last Monday, for a price of $37.75 per share.
However, the most interesting scenario was found amongst this quarter’s hedge funds, many of which augmented iGate’s portfolio participation considerably. Jim Simons, for example, increased the firm’s portfolio activity by 101% this quarter, and Renaissance Technologies now owns 444,449 shares, worth $14 million. Nevertheless, the leading shareholder position remains occupied by Joel Greenblatt’s Gotham Asset Management, with 487,180 company shares and an estimated value of $15.3 million.
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