Infosys’ (INFY) “Overweight” Rating Reiterated at Morgan Stanley
Infosys Ltd. (NYSE:INFY)‘s stock had its “overweight” rating reiterated by equities researchers at Morgan Stanley in a research note issued on Tuesday.
Other analysts have also issued reports about the company. Zacks Investment Research lowered Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, June 21st. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Infosys in a research report on Friday, July 15th. Wells Fargo & Co. reiterated a “hold” rating on shares of Infosys in a research report on Tuesday, August 16th. HSBC lowered Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, Cantor Fitzgerald reiterated a “hold” rating on shares of Infosys in a research report on Monday, August 8th. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $17.97.
Infosys (NYSE:INFY) traded up 1.27% during mid-day trading on Tuesday, reaching $15.90. 2,071,162 shares of the company’s stock were exchanged. Infosys has a 52 week low of $15.48 and a 52 week high of $20.47. The stock has a 50-day moving average price of $16.00 and a 200-day moving average price of $17.46. The stock has a market cap of $36.34 billion, a P/E ratio of 17.47 and a beta of 1.07.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/infosys-infy-overweight-rating-reiterated-at-morgan-stanley.html
Infosys (NYSE:INFY) last issued its quarterly earnings data on Friday, October 14th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.24. The company earned $2.59 billion during the quarter. Infosys had a return on equity of 23.26% and a net margin of 21.19%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.23 earnings per share. On average, analysts forecast that Infosys will post $0.95 earnings per share for the current year.
The firm also recently disclosed a dividend, which will be paid on Wednesday, October 26th. Investors of record on Monday, October 24th will be given a $0.17 dividend. The ex-dividend date is Thursday, October 20th. Infosys’s dividend payout ratio is presently 20.65%.
Institutional investors have recently modified their holdings of the stock. EQIS Capital Management raised its position in shares of Infosys by 324.0% in the fourth quarter. EQIS Capital Management now owns 78,643 shares of the company’s stock valued at $1,317,000 after buying an additional 60,093 shares in the last quarter. Vontobel Asset Management raised its position in shares of Infosys by 6.0% in the fourth quarter. Vontobel Asset Management now owns 19,156,672 shares of the company’s stock valued at $326,455,000 after buying an additional 1,085,873 shares in the last quarter. Fisher Asset Management raised its position in shares of Infosys by 2.0% in the fourth quarter. Fisher Asset Management now owns 21,906,204 shares of the company’s stock valued at $366,929,000 after buying an additional 437,059 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Infosys by 14.9% in the fourth quarter. Nordea Investment Management AB now owns 16,415,651 shares of the company’s stock valued at $274,962,000 after buying an additional 2,122,703 shares in the last quarter. Finally, Naples Global Advisors LLC raised its position in shares of Infosys by 1.5% in the fourth quarter. Naples Global Advisors LLC now owns 76,390 shares of the company’s stock valued at $1,280,000 after buying an additional 1,150 shares in the last quarter. Institutional investors and hedge funds own 17.22% 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.
Receive News & Ratings for Infosys Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infosys Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.