CLSA Reaffirms “Hold” Rating for Infosys (NYSE:INFY)

Infosys (NYSE:INFY)‘s stock had its “hold” rating reissued by CLSA in a research note issued to investors on Wednesday, Marketbeat.com reports.

Several other research analysts also recently commented on INFY. Wells Fargo & Company set a $11.00 target price on Infosys and gave the stock an “equal weight” rating in a report on Friday, June 26th. Stifel Nicolaus set a $13.00 price objective on Infosys and gave the stock a “hold” rating in a research report on Thursday, July 16th. Weiss Ratings lowered Infosys from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $10.90 target price (down from $12.70) on shares of Infosys in a research note on Friday, July 24th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $12.00 price target (down from $13.00) on shares of Infosys in a research note on Friday, July 24th. Nine equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $11.63.

Infosys Price Performance

NYSE:INFY traded up $0.14 on Wednesday, hitting $11.96. 2,173,676 shares of the company’s stock were exchanged, compared to its average volume of 19,061,551. Infosys has a 52 week low of $10.30 and a 52 week high of $30.00. The company has a market cap of $48.42 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88. The firm has a 50-day moving average price of $11.50 and a 200-day moving average price of $12.96.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, July 23rd. The technology company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Infosys had a return on equity of 33.91% and a net margin of 16.38%.The firm had revenue of $4.99 billion for the quarter, compared to the consensus estimate of $5.08 billion. On average, research analysts expect that Infosys will post 0.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in INFY. Bank of America Corp DE lifted its position in Infosys by 7.4% during the first quarter. Bank of America Corp DE now owns 6,790,666 shares of the technology company’s stock valued at $91,742,000 after purchasing an additional 469,843 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Infosys by 17.0% in the 1st quarter. Lazard Asset Management LLC now owns 26,776,494 shares of the technology company’s stock worth $361,750,000 after buying an additional 3,893,801 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Infosys by 8.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,490,358 shares of the technology company’s stock valued at $87,685,000 after buying an additional 521,169 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of Infosys during the 1st quarter valued at $10,708,000. Finally, Royal Bank of Canada lifted its holdings in shares of Infosys by 31.9% during the 1st quarter. Royal Bank of Canada now owns 1,156,539 shares of the technology company’s stock worth $15,625,000 after acquiring an additional 279,954 shares during the last quarter. Institutional investors own 16.20% of the company’s stock.

About Infosys

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.