Infosys (INFY) Rating Reiterated by Cantor Fitzgerald

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Cantor Fitzgerald reissued their hold rating on shares of Infosys (NYSE:INFY) in a research report released on Friday morning. They currently have a $10.00 price target on the technology company’s stock.

“. We maintain our Neutral rating on INFY and our $10 PT*. Infosys reported quarterly top line (+10.1% y/y cc vs. 12.1% y/y cc for TCS) results above expectations but bottom line results slightly below due to tax. Top line guidance was raised while operating margin guidance was maintained. Headcount grew, attrition was down, and utilization decreased. Financial services grew 7%, below company average, an acceleration from 4% in the prior quarter. We look to the call to provide an update on the demand environment, financial services vertical, margin performance and sustainability, and guidance outlook. Stock is down 1% pre-market.”,” Cantor Fitzgerald’s analyst wrote.

A number of other research firms have also recently issued reports on INFY. Robert W. Baird lifted their target price on shares of Infosys from $9.00 to $10.00 and gave the company a neutral rating in a research note on Friday, September 14th. ValuEngine cut shares of Infosys from a hold rating to a sell rating in a research note on Thursday, November 1st. Goldman Sachs Group cut shares of Infosys from a buy rating to a neutral rating and set a $11.00 target price for the company. in a research note on Wednesday, October 17th. Zacks Investment Research cut shares of Infosys from a hold rating to a sell rating in a research note on Monday, December 31st. Finally, BMO Capital Markets reiterated a hold rating and issued a $11.00 target price on shares of Infosys in a research note on Wednesday, October 17th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $13.48.

NYSE INFY traded up $0.53 during trading on Friday, reaching $10.41. 40,484,657 shares of the company traded hands, compared to its average volume of 13,442,146. The company has a market capitalization of $42.90 billion, a price-to-earnings ratio of 20.82, a PEG ratio of 1.85 and a beta of 0.42. Infosys has a 1-year low of $8.24 and a 1-year high of $10.68.

Infosys (NYSE:INFY) last released its quarterly earnings data on Tuesday, October 16th. The technology company reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.13. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. Infosys had a return on equity of 24.56% and a net margin of 21.94%. During the same period in the previous year, the business earned $0.13 earnings per share. Equities analysts expect that Infosys will post 0.52 EPS for the current year.

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in Infosys by 1,119,378.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 34,065,719 shares of the technology company’s stock worth $346,449,000 after purchasing an additional 34,062,676 shares during the last quarter. Nordea Investment Management AB bought a new position in Infosys in the 3rd quarter worth approximately $231,652,000. Fisher Asset Management LLC raised its position in Infosys by 90.7% in the 3rd quarter. Fisher Asset Management LLC now owns 41,232,613 shares of the technology company’s stock worth $419,336,000 after purchasing an additional 19,614,497 shares during the last quarter. BlackRock Inc. raised its position in Infosys by 166.6% in the 3rd quarter. BlackRock Inc. now owns 29,932,893 shares of the technology company’s stock worth $304,416,000 after purchasing an additional 18,705,434 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Infosys by 140.0% in the 3rd quarter. AQR Capital Management LLC now owns 25,803,860 shares of the technology company’s stock worth $262,425,000 after purchasing an additional 15,050,391 shares during the last quarter. Institutional investors own 18.18% of the company’s stock.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.

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Analyst Recommendations for Infosys (NYSE:INFY)

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