Infosys Ltd. (INFY) Upgraded to Hold by Zacks Investment Research
Infosys Ltd. (NYSE:INFY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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 research analysts have also issued reports about the company. Goldman Sachs Group Inc. upgraded Infosys from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 25th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Infosys in a research note on Friday, July 15th. Cantor Fitzgerald restated a “hold” rating and issued a $17.00 price objective on shares of Infosys in a research note on Monday, September 12th. Wells Fargo & Co. restated a “hold” rating on shares of Infosys in a research note on Tuesday, August 16th. Finally, HSBC lowered Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Fifteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.23.
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Infosys (NYSE:INFY) opened at 16.05 on Wednesday. The company has a market capitalization of $36.68 billion, a price-to-earnings ratio of 17.64 and a beta of 0.99. The stock has a 50 day moving average price of $16.14 and a 200-day moving average price of $17.79. Infosys has a 12-month low of $15.64 and a 12-month high of $20.47.
Infosys (NYSE:INFY) last posted its quarterly earnings data on Friday, July 15th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by $0.01. The company earned $2.50 billion during the quarter. Infosys had a return on equity of 23.24% and a net margin of 21.41%. Infosys’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period last year, the business earned $0.21 EPS. Equities analysts predict that Infosys will post $0.96 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in INFY. PNC Financial Services Group Inc. increased its position in shares of 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 last quarter. Ranger International Management LP increased 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 worth $125,000 after buying an additional 3,460 shares during the last quarter. Glenmede Trust Co. NA increased 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 worth $176,000 after buying an additional 861 shares during the last quarter. Tower Research Capital LLC TRC increased 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 worth $190,000 after buying an additional 9,557 shares during the last quarter. Finally, M&T Bank Corp increased 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 worth $204,000 after buying an additional 251 shares during the last quarter. 17.62% of the stock is owned by hedge funds and other 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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