BMO Capital Markets Reaffirms “Market Perform” Rating for Infosys Ltd. (INFY)
Infosys Ltd. (NYSE:INFY)‘s stock had its “market perform” rating reiterated by analysts at BMO Capital Markets in a research note issued on Tuesday. They currently have a $17.00 price objective on the stock, down from their previous price objective of $19.00. BMO Capital Markets’ price objective would indicate a potential upside of 8.28% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, June 21st. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Infosys in a report on Friday, July 15th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Infosys in a report on Tuesday, August 16th. HSBC cut shares of Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, Cantor Fitzgerald reiterated a “hold” rating on shares of Infosys in a research note on Monday, August 8th. Thirteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Infosys currently has a consensus rating of “Hold” and a consensus price target of $17.83.
Infosys (NYSE:INFY) traded up 1.306% during midday trading on Tuesday, reaching $15.905. The company’s stock had a trading volume of 2,510,885 shares. Infosys has a 12 month low of $15.48 and a 12 month high of $20.47. The stock has a 50-day moving average price of $16.00 and a 200 day moving average price of $17.46. The company has a market cap of $36.35 billion, a PE ratio of 17.478 and a beta of 1.07.
Infosys (NYSE:INFY) last posted its quarterly earnings results on Friday, October 14th. The company reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. The company had revenue of $2.59 billion for the quarter. Infosys had a net margin of 21.19% and a return on equity of 23.26%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $0.23 EPS. Analysts expect that Infosys will post $0.95 earnings per share for the current fiscal year.
The company also recently declared a dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Monday, October 24th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, October 20th. Infosys’s dividend payout ratio (DPR) is currently 20.65%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in INFY. PNC Financial Services Group Inc. raised its position in Infosys by 21.3% in the second quarter. PNC Financial Services Group Inc. now owns 5,702 shares of the company’s stock worth $103,000 after buying an additional 1,000 shares during the period. Ranger International Management LP raised its position in shares of Infosys by 97.7% in the second quarter. Ranger International Management LP now owns 7,000 shares of the company’s stock valued at $125,000 after buying an additional 3,460 shares during the period. Glenmede Trust Co. NA raised its position in shares of Infosys by 9.5% in the second quarter. Glenmede Trust Co. NA now owns 9,897 shares of the company’s stock valued at $176,000 after buying an additional 861 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Infosys by 870.4% in the second quarter. Tower Research Capital LLC TRC now owns 10,655 shares of the company’s stock valued at $190,000 after buying an additional 9,557 shares during the period. Finally, M&T Bank Corp raised its position in shares of Infosys by 2.2% in the second quarter. M&T Bank Corp now owns 11,410 shares of the company’s stock valued at $204,000 after buying an additional 251 shares during the period. Hedge funds and other institutional investors own 17.22% of the company’s stock.
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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