Infosys (NYSE:INFY) was upgraded by research analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued on Monday, Marketbeat Ratings reports.
Several other equities research analysts also recently issued reports on INFY. ValuEngine raised Infosys from a “hold” rating to a “buy” rating in a report on Friday. Cantor Fitzgerald reaffirmed a “hold” rating and set a $16.00 price target on shares of Infosys in a report on Tuesday, January 16th. Zacks Investment Research raised Infosys from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Tuesday, January 16th. Cowen reaffirmed a “hold” rating and set a $15.00 price target on shares of Infosys in a report on Thursday, October 12th. Finally, UBS Group raised Infosys from a “neutral” rating to a “buy” rating in a report on Monday, January 22nd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $15.77.
Shares of Infosys (INFY) traded down $0.38 during trading on Monday, reaching $17.37. The company’s stock had a trading volume of 6,705,743 shares, compared to its average volume of 7,820,756. Infosys has a fifty-two week low of $13.80 and a fifty-two week high of $18.71. The firm has a market cap of $38,710.00, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 1.95 and a beta of 0.61.
Infosys (NYSE:INFY) last announced its quarterly earnings results on Friday, January 12th. The technology company reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25. Infosys had a return on equity of 21.31% and a net margin of 22.97%. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the firm posted $0.24 EPS. analysts expect that Infosys will post 1 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Sompo Japan Nipponkoa Asset Management CO. LTD. acquired a new stake in shares of Infosys during the third quarter worth $293,000. Yacktman Asset Management LP lifted its holdings in shares of Infosys by 56.8% during the third quarter. Yacktman Asset Management LP now owns 6,031,017 shares of the technology company’s stock worth $87,993,000 after buying an additional 2,184,646 shares in the last quarter. Oldfield Partners LLP lifted its holdings in shares of Infosys by 5.6% during the third quarter. Oldfield Partners LLP now owns 3,107,302 shares of the technology company’s stock worth $45,336,000 after buying an additional 165,800 shares in the last quarter. Forward Management LLC lifted its holdings in shares of Infosys by 49.9% during the third quarter. Forward Management LLC now owns 311,381 shares of the technology company’s stock worth $4,544,000 after buying an additional 103,658 shares in the last quarter. Finally, APG Asset Management N.V. acquired a new stake in shares of Infosys during the third quarter worth $6,205,000. 19.73% of the stock is owned by institutional investors.
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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.