Infosys Ltd. (INFY) Stock Rating Reaffirmed by Pacific Crest
Infosys Ltd. (NYSE:INFY)‘s stock had its “hold” rating restated by Pacific Crest in a report released on Monday.
Several other research analysts also recently commented on the company. Wells Fargo & Co. reissued a “hold” rating on shares of Infosys in a research note on Tuesday, August 16th. Zacks Investment Research downgraded Infosys from a “hold” rating to a “sell” rating in a research note on Tuesday, August 23rd. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $17.00 price objective on shares of Infosys in a research note on Monday, July 18th. 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. Finally, Nomura downgraded Infosys from a “buy” rating to a “neutral” rating in a research note on Monday, July 18th. Fifteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Infosys presently has an average rating of “Hold” and an average price target of $18.23.
Shares of Infosys (NYSE:INFY) traded down 1.103% on Monday, hitting $15.695. 2,205,328 shares of the stock traded hands. The stock has a market cap of $35.87 billion, a PE ratio of 17.247 and a beta of 1.07. Infosys has a 1-year low of $15.48 and a 1-year high of $20.47. The stock 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 posted its quarterly earnings data on Friday, July 15th. The company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.01. Infosys had a return on equity of 23.24% and a net margin of 21.41%. The firm had revenue of $2.50 billion for the quarter. During the same period last year, the company earned $0.21 earnings per share. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. On average, equities research analysts expect that Infosys will post $0.95 EPS for the current year.
Several institutional investors have recently bought and sold shares of INFY. ClariVest Asset Management LLC boosted its position in Infosys by 16.8% in the second quarter. ClariVest Asset Management LLC now owns 865,842 shares of the company’s stock worth $15,455,000 after buying an additional 124,700 shares during the last quarter. Wellington Management Group LLP boosted its position in Infosys by 671.7% in the first quarter. Wellington Management Group LLP now owns 1,610,371 shares of the company’s stock worth $30,630,000 after buying an additional 1,401,692 shares during the last quarter. Capital Fund Management S.A. acquired a new position in Infosys during the second quarter worth about $2,468,000. M&T Bank Corp boosted its position in 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. Finally, UBS Asset Management Americas Inc. boosted its position 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. Hedge funds and other institutional investors own 17.61% of the company’s stock.
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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