Infosys’ (INFY) Market Perform Rating Reaffirmed at BMO Capital Markets
Infosys Ltd. (NYSE:INFY)‘s stock had its “market perform” rating restated by stock analysts at BMO Capital Markets in a research report issued to clients and investors on Tuesday. They presently have a $17.00 target price on the stock, down from their prior target price of $19.00. BMO Capital Markets’ price target suggests a potential upside of 8.28% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald set a $17.00 price target on Infosys and gave the stock a “hold” rating in a research note on Saturday. Morgan Stanley reissued an “overweight” rating on shares of Infosys in a research note on Tuesday. Nomura cut Infosys from a “buy” rating to a “neutral” rating in a research note on Monday, July 18th. Zacks Investment Research raised Infosys from a “sell” rating to a “hold” rating in a research note on Wednesday, August 17th. Finally, Credit Suisse Group AG cut Infosys from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $15.71 to $16.81 in a research note on Monday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $17.83.
Infosys (NYSE:INFY) traded up 1.306% during mid-day trading on Tuesday, reaching $15.905. 2,537,056 shares of the company were exchanged. The stock’s 50-day moving average is $16.00 and its 200-day moving average is $17.46. The company has a market cap of $36.35 billion, a P/E ratio of 17.478 and a beta of 1.07. Infosys has a 12 month low of $15.48 and a 12 month high of $20.47.
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Infosys (NYSE:INFY) last issued its quarterly earnings results on Friday, October 14th. The company reported $0.24 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.24. The firm had revenue of $2.59 billion for the quarter. Infosys had a return on equity of 23.26% and a net margin of 21.19%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 EPS. Equities analysts expect that Infosys will post $0.95 earnings per share for the current year.
The company also recently declared a dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Monday, October 24th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, October 20th. Infosys’s dividend payout ratio is 20.65%.
Several large investors have recently made changes to their positions in INFY. Hexavest Inc. raised its stake in shares of Infosys by 25.0% in the third quarter. Hexavest Inc. now owns 758,331 shares of the company’s stock valued at $11,966,000 after buying an additional 151,853 shares in the last quarter. Creative Planning raised its stake in shares of Infosys by 24.4% in the third quarter. Creative Planning now owns 26,402 shares of the company’s stock valued at $417,000 after buying an additional 5,179 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Infosys by 2.6% in the third quarter. Fisher Asset Management LLC now owns 24,292,422 shares of the company’s stock valued at $383,334,000 after buying an additional 624,769 shares in the last quarter. Naples Global Advisors LLC raised its stake in shares of Infosys by 7.6% in the third quarter. Naples Global Advisors LLC now owns 81,275 shares of the company’s stock valued at $1,283,000 after buying an additional 5,760 shares in the last quarter. Finally, Genesis Asset Managers LLP raised its stake in shares of Infosys by 37.7% in the third quarter. Genesis Asset Managers LLP now owns 12,715,422 shares of the company’s stock valued at $202,811,000 after buying an additional 3,481,819 shares in the last quarter. Institutional investors and hedge funds own 17.22% of the company’s stock.
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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