Infosys Ltd. (NYSE:INFY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Infosys’ earnings have been a mixed bag over the four trailing quarters, with a beat and a miss, while being in line for the other two. The company has added a significant number of clients in recent times, which is expected to enhance both top- and bottom-line growth. The company’s recent introduction of AikiDo service offerings, and the success of its EdgeVerve business and Skava platform are expected to set it apart from peers, thereby aiding its growth momentum in the near term. However, factors like seasonality and stiff competition in the IT industry may continue to impact the company’s financials. Also, Infosys’ fixed-price and fixed-timeframe contracts expose it to risks of loss arising from inaccurate estimations of project pricing. This apart, slowdown in certain key markets and currency volatility, which has been heightened by Brexit, adds to the company’s woes.”
Several other research firms have also weighed in on INFY. BMO Capital Markets reiterated a “hold” rating on shares of Infosys in a research note on Monday, July 18th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Infosys in a research note on Friday, July 15th. Wells Fargo & Co. restated a “hold” rating on shares of Infosys in a research note on Tuesday, August 16th. HSBC lowered shares of Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $17.00 price target on shares of Infosys in a research note on Monday, July 18th. Fourteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $18.23.
Shares of Infosys (NYSE:INFY) opened at 15.89 on Thursday. The firm’s 50-day moving average price is $16.09 and its 200 day moving average price is $17.71. Infosys has a 1-year low of $15.64 and a 1-year high of $20.47. The firm has a market cap of $36.32 billion, a PE ratio of 17.46 and a beta of 0.99.
Infosys (NYSE:INFY) last released its quarterly earnings data on Friday, July 15th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by $0.01. The business had revenue of $2.50 billion for the quarter. Infosys had a return on equity of 23.24% and a net margin of 21.41%. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS. On average, equities research analysts forecast that Infosys will post $0.95 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of INFY. Glovista Investments LLC boosted its stake in shares of Infosys by 12.5% in the first quarter. Glovista Investments LLC now owns 667,800 shares of the company’s stock worth $12,702,000 after buying an additional 74,450 shares during the last quarter. Pictet Asset Management Ltd. boosted its stake in shares of Infosys by 1.4% in the first quarter. Pictet Asset Management Ltd. now owns 257,425 shares of the company’s stock worth $4,330,000 after buying an additional 3,620 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Infosys by 2.0% in the first quarter. UBS Asset Management Americas Inc. now owns 5,833,223 shares of the company’s stock worth $110,948,000 after buying an additional 114,069 shares during the last quarter. RPg Family Wealth Advisory LLC boosted its stake in shares of Infosys by 2.4% in the first quarter. RPg Family Wealth Advisory LLC now owns 156,250 shares of the company’s stock worth $2,972,000 after buying an additional 3,686 shares during the last quarter. Finally, BB&T Securities LLC acquired a new stake in shares of Infosys during the first quarter worth $9,044,000. Hedge funds and other institutional investors own 17.62% 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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