Infosys Ltd. (INFY) Receives Hold Rating from Pacific Crest
Infosys Ltd. (NYSE:INFY)‘s stock had its “hold” rating restated by equities research analysts at Pacific Crest in a research report issued to clients and investors on Monday.
INFY has been the subject of a number of other research reports. Wedbush initiated coverage on Infosys in a research note on Thursday, September 8th. They issued a “neutral” rating and a $18.00 price objective for the company. Cantor Fitzgerald reiterated a “hold” rating and issued a $17.00 price objective on shares of Infosys in a research note on Monday, September 12th. Zacks Investment Research upgraded Infosys from a “sell” rating to a “hold” rating in a research note on Wednesday, September 21st. Wells Fargo & Co. reiterated a “hold” rating on shares of Infosys in a research note on Tuesday, August 16th. Finally, HSBC cut Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Fifteen analysts have rated the stock with a hold rating and two have given a buy rating to the company. Infosys has an average rating of “Hold” and a consensus target price of $18.23.
Infosys (NYSE:INFY) traded down 1.040% during midday trading on Monday, reaching $15.705. 2,094,262 shares of the company were exchanged. The company has a market capitalization of $35.90 billion, a price-to-earnings ratio of 17.258 and a beta of 1.07. Infosys has a 52-week low of $15.48 and a 52-week high of $20.47. The company has a 50 day moving average of $16.03 and a 200-day moving average of $17.55.
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Infosys (NYSE:INFY) last issued its quarterly earnings data on Friday, July 15th. The company reported $0.22 earnings per share 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 firm earned $2.50 billion during the quarter. During the same period in the prior year, the company posted $0.21 EPS. The company’s revenue was up 16.9% compared to the same quarter last year. On average, equities research analysts anticipate that Infosys will post $0.95 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. raised its stake in Infosys by 114.1% in the second quarter. UBS Asset Management Americas Inc. now owns 12,486,489 shares of the company’s stock worth $222,885,000 after buying an additional 6,653,266 shares during the last quarter. Genesis Asset Managers LLP increased its stake in Infosys by 37.7% in the third quarter. Genesis Asset Managers LLP now owns 12,715,422 shares of the company’s stock worth $202,811,000 after buying an additional 3,481,819 shares in the last quarter. Prudential PLC increased its stake in Infosys by 496.8% in the first quarter. Prudential PLC now owns 3,958,400 shares of the company’s stock worth $75,289,000 after buying an additional 3,295,100 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in Infosys during the second quarter worth approximately $48,849,000. Finally, Credit Agricole S A increased its stake in Infosys by 326.1% in the first quarter. Credit Agricole S A now owns 2,444,178 shares of the company’s stock worth $46,488,000 after buying an additional 1,870,619 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.
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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