Infosys Ltd. (INFY) Receives Hold Rating from Pacific Crest
Infosys Ltd. (NYSE:INFY)‘s stock had its “hold” rating reiterated by equities researchers at Pacific Crest in a note issued to investors on Monday.
INFY has been the subject of a number of other reports. Zacks Investment Research raised shares of Infosys from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Friday, June 17th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Infosys in a research report on Friday, July 15th. Wells Fargo & Co. reissued a “hold” rating on shares of Infosys in a research report on Tuesday, August 16th. HSBC lowered shares of Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Finally, Cantor Fitzgerald reissued a “hold” rating on shares of Infosys in a research report on Monday, August 8th. Fifteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $18.23.
Infosys (NYSE:INFY) traded down 1.040% during trading on Monday, hitting $15.705. 2,094,262 shares of the stock traded hands. Infosys has a 52-week low of $15.48 and a 52-week high of $20.47. The stock has a 50 day moving average price of $16.03 and a 200-day moving average price of $17.55. The stock has a market cap of $35.90 billion, a P/E ratio of 17.258 and a beta of 1.07.
Infosys (NYSE:INFY) last announced its quarterly earnings data on Friday, July 15th. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The company earned $2.50 billion during the quarter. Infosys had a net margin of 21.41% and a return on equity of 23.24%. The firm’s revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 earnings per share. On average, analysts anticipate that Infosys will post $0.95 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in INFY. ClariVest Asset Management LLC boosted its stake in Infosys by 16.8% in the second quarter. ClariVest Asset Management LLC now owns 865,842 shares of the company’s stock worth $15,455,000 after buying an additional 124,700 shares in the last quarter. Wellington Management Group LLP boosted its stake in Infosys by 671.7% in the first quarter. Wellington Management Group LLP now owns 1,610,371 shares of the company’s stock worth $30,630,000 after buying an additional 1,401,692 shares in the last quarter. Capital Fund Management S.A. bought a new stake in Infosys during the second quarter worth about $2,468,000. 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 worth $204,000 after buying an additional 251 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in Infosys by 114.1% in the second quarter. UBS Asset Management Americas Inc. now owns 12,486,489 shares of the company’s stock worth $222,885,000 after buying an additional 6,653,266 shares in the last quarter. 17.61% of the stock is currently 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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