Infosys Ltd. (INFY) Upgraded by Zacks Investment Research to “Hold”
Infosys Ltd. (NYSE:INFY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report 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.”
Other equities analysts also recently issued research reports about the company. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Infosys in a research report on Friday, July 15th. Cantor Fitzgerald reiterated a “hold” rating and set a $17.00 price target on shares of Infosys in a research report on Monday, September 12th. Wells Fargo & Co. reiterated a “hold” rating on shares of Infosys in a research report on Tuesday, August 16th. HSBC downgraded Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, BMO Capital Markets reiterated a “hold” rating on shares of Infosys in a research report on Monday, July 18th. Fourteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.23.
Shares of Infosys (NYSE:INFY) opened at 15.89 on Thursday. The company has a market capitalization of $36.32 billion, a PE ratio of 17.46 and a beta of 0.99. The stock’s 50 day moving average price is $16.09 and its 200 day moving average price is $17.71. Infosys has a 12 month low of $15.64 and a 12 month high of $20.47.
Infosys (NYSE:INFY) last issued its earnings results on Friday, July 15th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by $0.01. The company earned $2.50 billion during the quarter. Infosys had a return on equity of 23.24% and a net margin of 21.41%. The firm’s revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 EPS. On average, analysts forecast that Infosys will post $0.95 EPS for the current year.
Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its stake in Infosys by 21.3% in the second quarter. PNC Financial Services Group Inc. now owns 5,702 shares of the company’s stock valued at $103,000 after buying an additional 1,000 shares in the last quarter. Ranger International Management LP boosted its stake in Infosys by 97.7% in the second quarter. Ranger International Management LP now owns 7,000 shares of the company’s stock valued at $125,000 after buying an additional 3,460 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in Infosys by 9.5% in the second quarter. Glenmede Trust Co. NA now owns 9,897 shares of the company’s stock valued at $176,000 after buying an additional 861 shares during the period. Tower Research Capital LLC TRC boosted its stake in Infosys by 870.4% in the second quarter. Tower Research Capital LLC TRC now owns 10,655 shares of the company’s stock valued at $190,000 after buying an additional 9,557 shares during the period. Finally, M&T Bank Corp boosted its stake in Infosys by 2.2% in the second quarter. M&T Bank Corp now owns 11,410 shares of the company’s stock valued at $204,000 after buying an additional 251 shares during the period. 17.62% of the stock is owned by hedge funds and other institutional investors.
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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