Infosys Limited (NYSE:INFY) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Infosys Limited (NYSE:INFY) have earned a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $19.27.

INFY has been the topic of several research reports. BNP Paribas initiated coverage on shares of Infosys in a research report on Wednesday, January 17th. They set an “outperform” rating and a $24.00 price target on the stock. BMO Capital Markets reduced their price target on shares of Infosys from $21.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, April 19th. Bank of America raised shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Guggenheim initiated coverage on shares of Infosys in a research report on Tuesday, March 19th. They set a “neutral” rating and a $20.00 price target on the stock.

Infosys Price Performance

NYSE INFY opened at $17.04 on Friday. The firm’s 50-day moving average is $18.63 and its two-hundred day moving average is $18.34. Infosys has a 12 month low of $14.78 and a 12 month high of $20.74. The stock has a market capitalization of $70.51 billion, a P/E ratio of 22.41, a PEG ratio of 2.32 and a beta of 0.93.

Infosys (NYSE:INFY) last posted its earnings results on Thursday, April 18th. The technology company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Infosys had a net margin of 17.06% and a return on equity of 32.33%. The company had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.49 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. As a group, analysts anticipate that Infosys will post 0.75 EPS for the current year.

Hedge Funds Weigh In On Infosys

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Infosys by 2.3% in the third quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock valued at $139,327,000 after purchasing an additional 180,888 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Infosys in the third quarter valued at approximately $5,047,000. Rhumbline Advisers increased its stake in Infosys by 3.0% in the third quarter. Rhumbline Advisers now owns 908,911 shares of the technology company’s stock valued at $15,551,000 after purchasing an additional 26,833 shares during the last quarter. Baillie Gifford & Co. increased its stake in Infosys by 3.3% in the fourth quarter. Baillie Gifford & Co. now owns 3,190,513 shares of the technology company’s stock valued at $58,642,000 after purchasing an additional 102,273 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Infosys by 39.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,744,741 shares of the technology company’s stock worth $32,068,000 after acquiring an additional 491,350 shares during the last quarter. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.