Infosys Ltd. (INFY) Stock Rating Reaffirmed by Morgan Stanley
Infosys Ltd. (NYSE:INFY)‘s stock had its “overweight” rating reaffirmed by analysts at Morgan Stanley in a note issued to investors on Tuesday.
Several other research analysts have also recently commented on INFY. Cantor Fitzgerald set a $17.00 target price on shares of Infosys and gave the stock a “hold” rating in a report on Saturday. Zacks Investment Research lowered shares of Infosys from a “hold” rating to a “sell” rating in a research report on Tuesday, June 28th. Credit Suisse Group AG lowered shares of Infosys from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $15.71 to $16.81 in a research report on Monday, July 18th. BMO Capital Markets reissued a “hold” rating on shares of Infosys in a research report on Monday, July 18th. Finally, HSBC lowered shares of Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Thirteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $17.97.
Infosys (NYSE:INFY) traded up 1.306% on Tuesday, reaching $15.905. The company’s stock had a trading volume of 2,140,099 shares. Infosys has a one year low of $15.48 and a one year high of $20.47. The company has a market capitalization of $36.35 billion, a PE ratio of 17.478 and a beta of 1.07. The firm has a 50-day moving average of $16.00 and a 200-day moving average of $17.46.
Infosys (NYSE:INFY) last announced its earnings results on Friday, October 14th. The company reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. Infosys had a net margin of 21.19% and a return on equity of 23.26%. The company earned $2.59 billion during the quarter. During the same quarter in the previous year, the business earned $0.23 earnings per share. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. Analysts predict that Infosys will post $0.95 EPS for the current year.
The firm also recently disclosed a dividend, which will be paid on Wednesday, October 26th. Investors of record on Monday, October 24th will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, October 20th. Infosys’s payout ratio is presently 20.65%.
Institutional investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC raised its position in Infosys by 2.6% in the third quarter. Fisher Asset Management LLC now owns 24,292,422 shares of the company’s stock worth $383,334,000 after buying an additional 624,769 shares in the last quarter. Nordea Investment Management AB raised its position in Infosys by 4.2% in the second quarter. Nordea Investment Management AB now owns 18,936,159 shares of the company’s stock worth $338,010,000 after buying an additional 761,094 shares in the last quarter. AQR Capital Management LLC raised its position in Infosys by 0.4% in the second quarter. AQR Capital Management LLC now owns 13,394,490 shares of the company’s stock worth $239,092,000 after buying an additional 56,103 shares in the last quarter. FIL Ltd raised its position in Infosys by 0.9% in the second quarter. FIL Ltd now owns 13,016,912 shares of the company’s stock worth $232,352,000 after buying an additional 120,127 shares in the last quarter. Finally, Genesis Asset Managers LLP raised its position in Infosys by 37.7% in the third quarter. Genesis Asset Managers LLP now owns 12,715,422 shares of the company’s stock worth $202,811,000 after buying an additional 3,481,819 shares in the last quarter. 17.22% of the stock is currently owned by 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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