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Infosys (NASDAQ:INFY) was downgraded by stock analysts at Jefferies Group from a “buy” rating to a “hold” rating in a report issued on Wednesday, reports.

Shares of Infosys (NASDAQ:INFY) traded up 0.86% on Wednesday, hitting $58.31. 706,006 shares of the company’s stock traded hands. Infosys has a 52-week low of $44.81 and a 52-week high of $63.20. The stock’s 50-day moving average is $55.0 and its 200-day moving average is $55.19. The company has a market cap of $33.318 billion and a P/E ratio of 18.24.

Infosys (NASDAQ:INFY) last announced its earnings results on Friday, July 11th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.08. The company had revenue of $127.70 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts expect that Infosys will post $3.37 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on INFY. Analysts at Credit Agricole initiated coverage on shares of Infosys in a research note on Thursday, July 10th. They set an “outperform” rating on the stock. Analysts at Stifel Nicolaus initiated coverage on shares of Infosys in a research note on Tuesday, July 8th. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $65.00.

Infosys Limited (NASDAQ:INFY) provides business consulting, technology, engineering and outsourcing services.

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