Infosys Ltd. (INFY) Rating Reiterated by Pacific Crest
Infosys Ltd. (NYSE:INFY)‘s stock had its “hold” rating reaffirmed by analysts at Pacific Crest in a note issued to investors on Monday.
Several other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Infosys from a “sell” rating to a “hold” rating in a research report on Thursday, September 29th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $17.00 target price on shares of Infosys in a research report on Monday, September 12th. Wedbush assumed coverage on shares of Infosys in a research note on Thursday, September 8th. They issued a “neutral” rating and a $18.00 price target for the company. Wells Fargo & Co. reiterated a “hold” rating on shares of Infosys in a research note on Tuesday, August 16th. Finally, HSBC lowered shares of Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Fifteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $18.23.
Shares of Infosys (NYSE:INFY) opened at 15.70 on Monday. The company has a market capitalization of $35.88 billion, a P/E ratio of 17.25 and a beta of 1.07. The firm has a 50-day moving average of $16.03 and a 200 day moving average of $17.54. Infosys has a 1-year low of $15.48 and a 1-year high of $20.47.
Infosys (NYSE:INFY) last posted its earnings results on Friday, July 15th. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.01. Infosys had a return on equity of 23.24% and a net margin of 21.41%. The company earned $2.50 billion during the quarter. During the same period last year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. On average, equities research analysts expect that Infosys will post $0.95 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in INFY. Fisher Asset Management LLC increased its stake in shares of Infosys by 2.6% in the third quarter. Fisher Asset Management LLC now owns 24,292,422 shares of the company’s stock worth $383,334,000 after buying an additional 624,769 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Infosys by 4.2% in the second quarter. Nordea Investment Management AB now owns 18,936,159 shares of the company’s stock worth $338,010,000 after buying an additional 761,094 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Infosys by 0.4% in the second quarter. AQR Capital Management LLC now owns 13,394,490 shares of the company’s stock worth $239,092,000 after buying an additional 56,103 shares during the last quarter. FIL Ltd increased its stake in shares of Infosys by 0.9% in the second quarter. FIL Ltd now owns 13,016,912 shares of the company’s stock worth $232,352,000 after buying an additional 120,127 shares during the last quarter. Finally, Genesis Asset Managers LLP increased its stake in shares of Infosys by 37.7% in the third quarter. Genesis Asset Managers LLP now owns 12,715,422 shares of the company’s stock worth $202,811,000 after buying an additional 3,481,819 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.
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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