Infosys Ltd. (NYSE:INFY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Infosys’ earnings have been a mixed bag over the four trailing quarters, with a beat and a miss, while being in line for the other two. The company has added a significant number of clients in recent times, which is expected to enhance both top- and bottom-line growth. The company’s recent introduction of AikiDo service offerings, and the success of its EdgeVerve business and Skava platform are expected to set it apart from peers, thereby aiding its growth momentum in the near term. However, factors like seasonality and stiff competition in the IT industry may continue to impact the company’s financials. Also, Infosys’ fixed-price and fixed-timeframe contracts expose it to risks of loss arising from inaccurate estimations of project pricing. This apart, slowdown in certain key markets and currency volatility, which has been heightened by Brexit, adds to the company’s woes.”
Other equities research analysts have also issued research reports about the stock. Goldman Sachs Group Inc. upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a report on Wednesday, May 25th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Infosys in a report on Friday, July 15th. Cantor Fitzgerald restated a “hold” rating and issued a $17.00 price target on shares of Infosys in a report on Monday, September 12th. Wells Fargo & Co. restated a “hold” rating on shares of Infosys in a report on Tuesday, August 16th. Finally, HSBC lowered shares of Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Fifteen analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Infosys has an average rating of “Hold” and an average target price of $18.23.
Shares of Infosys (NYSE:INFY) opened at 16.25 on Wednesday. The stock has a market cap of $37.14 billion, a PE ratio of 17.86 and a beta of 0.99. Infosys has a 12-month low of $15.64 and a 12-month high of $20.47. The stock’s 50 day moving average is $16.13 and its 200-day moving average is $17.77.
Infosys (NYSE:INFY) last announced its quarterly earnings data on Friday, July 15th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by $0.01. Infosys had a net margin of 21.41% and a return on equity of 23.24%. The company had revenue of $2.50 billion for the quarter. During the same period last year, the firm earned $0.21 EPS. Infosys’s quarterly revenue was up 16.9% compared to the same quarter last year. Equities analysts expect that Infosys will post $0.96 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fox Run Management L.L.C. purchased a new position in Infosys during the first quarter valued at approximately $342,000. Aperio Group LLC increased its stake in Infosys by 5.7% in the first quarter. Aperio Group LLC now owns 1,185,514 shares of the company’s stock valued at $22,548,000 after buying an additional 64,445 shares in the last quarter. CIBC World Markets Inc. bought a new stake in Infosys during the first quarter valued at $4,025,000. Prudential Financial Inc. increased its stake in Infosys by 2.1% in the first quarter. Prudential Financial Inc. now owns 2,160,250 shares of the company’s stock valued at $41,088,000 after buying an additional 45,302 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Infosys by 15.0% in the first quarter. BlackRock Inc. now owns 291,428 shares of the company’s stock valued at $5,543,000 after buying an additional 38,093 shares in the last quarter. Hedge funds and other institutional investors own 17.62% of the company’s stock.
Infosys Company Profile
Infosys Limited is engaged in consulting, technology, outsourcing and next-generation services. The Company, along with its subsidiaries, provides business information technology services comprising application development and maintenance, independent validation, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking solution, and offerings in the areas of Analytics, Cloud and Digital Transformation.
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