- Barrington Research analyst Vincent Colicchio reiterated an Outperform rating on the shares of WNS (Holdings) Limited (NYSE:WNS) and raised the price target from $97 to $108.
- The company reported fiscal Q4/23 adjusted EPS of $1.04, which exceeded the analyst’s forecast of $1.01 by 2% and the FactSet consensus forecast of $1.02 by 2%.
- The analyst said the EPS upside compared to the estimate was due to net revenue overage of 3% and a lower-than-expected adjusted tax rate.
- The analyst also pointed out fiscal Q4/23 net revenue of $305.0 million, which exceeded the forecast.
- The analyst remarked that demand remained robust despite the difficult economic environment.
- The company’s services have not been subject to budgetary pressures as clients continue to recognize the necessity of implementing digital BPM solutions to improve competitiveness and reduce costs..
- The analyst noted that WNS’ cost reduction and transformation solutions are currently generating healthy interest and management characterized the sales pipeline as strong.
- The analyst has increased fiscal 2024 adjusted EPS forecast to $4.24 from $4.14 and estimates fiscal 2025 adjusted EPS to be $4.74.
- Price Action: WNS shares are trading lower by 0.06% at $90.12 on the last check Monday.
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