Infosys Ltd. (INFY) Rating Increased to Hold at Zacks Investment Research
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 analysts have also issued reports about the company. Goldman Sachs Group Inc. raised Infosys from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 25th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Infosys in a research report on Friday, July 15th. Cantor Fitzgerald reissued a “hold” rating and set a $17.00 price target on shares of Infosys in a research report on Monday, September 12th. Wells Fargo & Co. reissued a “hold” rating on shares of Infosys in a research report on Tuesday, August 16th. Finally, HSBC lowered Infosys from a “buy” rating to a “hold” rating in a research report 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 stock currently has an average rating of “Hold” and an average target price of $18.23.
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Shares of Infosys (NYSE:INFY) opened at 16.05 on Wednesday. The firm has a market cap of $36.68 billion, a P/E ratio of 17.64 and a beta of 0.99. Infosys has a 12-month low of $15.64 and a 12-month high of $20.47. The firm has a 50-day moving average price of $16.14 and a 200-day moving average price of $17.79.
Infosys (NYSE:INFY) last announced its earnings results on Friday, July 15th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.01. Infosys had a net margin of 21.41% and a return on equity of 23.24%. The business earned $2.50 billion during the quarter. During the same quarter last year, the firm posted $0.21 earnings per share. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. On average, equities research analysts expect that Infosys will post $0.96 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in INFY. UBS Asset Management Americas Inc. boosted its position in Infosys by 2.0% in the first quarter. UBS Asset Management Americas Inc. now owns 5,833,223 shares of the company’s stock valued at $110,948,000 after buying an additional 114,069 shares during the last quarter. RPg Family Wealth Advisory LLC boosted its position in Infosys by 2.4% in the first quarter. RPg Family Wealth Advisory LLC now owns 156,250 shares of the company’s stock valued at $2,972,000 after buying an additional 3,686 shares during the last quarter. BB&T Securities LLC acquired a new position in Infosys during the first quarter valued at about $9,044,000. Credit Agricole S A boosted its position in Infosys by 326.1% in the first quarter. Credit Agricole S A now owns 2,444,178 shares of the company’s stock valued at $46,488,000 after buying an additional 1,870,619 shares during the last quarter. Finally, M&T Bank Corp acquired a new position in Infosys during the first quarter valued at about $213,000. 17.62% of the stock is owned by institutional investors.
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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