Infosys (INFY) Downgraded by Citigroup to Neutral

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Citigroup lowered shares of Infosys (NYSE:INFY) from a buy rating to a neutral rating in a report released on Monday morning, BenzingaRatingsTable reports.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research raised Infosys from a hold rating to a buy rating and set a $12.00 price objective for the company in a report on Tuesday, March 19th. HSBC cut Infosys from a buy rating to a hold rating in a report on Tuesday, April 2nd. Wells Fargo & Co set a $11.00 price target on Infosys and gave the stock a hold rating in a report on Friday, January 11th. Cantor Fitzgerald reaffirmed a hold rating and issued a $10.00 price target on shares of Infosys in a report on Friday, January 11th. Finally, ValuEngine raised Infosys from a sell rating to a hold rating in a report on Wednesday, January 2nd. Three equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. Infosys has an average rating of Hold and an average target price of $11.26.

Shares of INFY stock opened at $10.57 on Monday. The stock has a market capitalization of $45.85 billion, a PE ratio of 19.72, a P/E/G ratio of 1.88 and a beta of 0.54. Infosys has a 52-week low of $8.40 and a 52-week high of $11.38.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Friday, April 12th. The technology company reported $0.13 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Infosys had a return on equity of 25.65% and a net margin of 18.62%. During the same quarter in the previous year, the firm posted $0.13 EPS. Sell-side analysts expect that Infosys will post 0.56 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Guinness Asset Management Ltd raised its holdings in Infosys by 29.8% in the 4th quarter. Guinness Asset Management Ltd now owns 5,320 shares of the technology company’s stock worth $51,000 after purchasing an additional 1,220 shares during the period. Butensky & Cohen Financial Security Inc. increased its stake in Infosys by 0.7% during the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 219,510 shares of the technology company’s stock worth $2,090,000 after buying an additional 1,460 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Infosys by 5.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 30,114 shares of the technology company’s stock worth $286,000 after buying an additional 1,662 shares in the last quarter. Kiwi Wealth Investments Limited Partnership increased its stake in Infosys by 1.1% during the 4th quarter. Kiwi Wealth Investments Limited Partnership now owns 158,777 shares of the technology company’s stock worth $1,512,000 after buying an additional 1,756 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in Infosys by 9.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 21,700 shares of the technology company’s stock worth $207,000 after buying an additional 1,827 shares in the last quarter. 17.81% of the stock is owned by institutional investors.

About Infosys

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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