Infosys (NYSE:INFY) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday.

INFY has been the subject of a number of other research reports. Zacks Investment Research upgraded Infosys from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Tuesday, September 19th. Oppenheimer restated a “hold” rating on shares of Infosys in a research report on Tuesday, October 24th. Stifel Nicolaus restated a “hold” rating on shares of Infosys in a research report on Thursday, October 26th. Cowen restated a “hold” rating and set a $15.00 target price on shares of Infosys in a research report on Thursday, October 12th. Finally, Cantor Fitzgerald restated a “hold” rating on shares of Infosys in a research report on Friday, August 25th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Infosys has a consensus rating of “Hold” and a consensus target price of $15.34.

Infosys (INFY) traded up $0.40 during trading on Tuesday, reaching $15.46. The company’s stock had a trading volume of 7,042,900 shares, compared to its average volume of 6,351,154. The firm has a market capitalization of $34,422.32, a price-to-earnings ratio of 15.53, a P/E/G ratio of 1.64 and a beta of 0.69. Infosys has a one year low of $13.42 and a one year high of $16.15.

Infosys (NYSE:INFY) last posted its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.78 billion. Infosys had a return on equity of 21.05% and a net margin of 21.04%. During the same quarter in the previous year, the firm earned $0.24 earnings per share. sell-side analysts anticipate that Infosys will post 0.98 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in Infosys by 0.3% in the first quarter. Geode Capital Management LLC now owns 422,847 shares of the technology company’s stock valued at $6,642,000 after purchasing an additional 1,231 shares during the last quarter. Shell Asset Management Co. bought a new stake in Infosys in the second quarter valued at about $230,000. State of New Jersey Common Pension Fund D increased its holdings in Infosys by 0.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,327,171 shares of the technology company’s stock valued at $19,935,000 after purchasing an additional 9,893 shares during the last quarter. Pictet Asset Management Ltd. increased its holdings in Infosys by 88.0% in the second quarter. Pictet Asset Management Ltd. now owns 299,179 shares of the technology company’s stock valued at $4,518,000 after purchasing an additional 140,056 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Infosys by 178.3% in the second quarter. Canada Pension Plan Investment Board now owns 374,010 shares of the technology company’s stock valued at $5,618,000 after purchasing an additional 239,610 shares during the last quarter. Institutional investors own 18.95% of the company’s stock.

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About Infosys

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.

Analyst Recommendations for Infosys (NYSE:INFY)

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