Infosys Limited (INFY) Downgraded to “Sell” at BidaskClub
BidaskClub downgraded shares of Infosys Limited (NYSE:INFY) from a hold rating to a sell rating in a research note released on Tuesday.
INFY has been the topic of several other reports. BMO Capital Markets reiterated a hold rating and issued a $16.00 target price on shares of Infosys Limited in a report on Friday, August 18th. UBS AG lowered shares of Infosys Limited from a buy rating to a hold rating in a report on Friday, August 18th. Zacks Investment Research upgraded shares of Infosys Limited from a sell rating to a hold rating and set a $18.00 target price on the stock in a report on Monday, July 17th. Cantor Fitzgerald reiterated a hold rating and issued a $15.00 target price on shares of Infosys Limited in a report on Friday, July 14th. Finally, HSBC Holdings plc upgraded shares of Infosys Limited from a hold rating to a buy rating in a report on Thursday, June 8th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $15.58.
Infosys Limited (NYSE:INFY) opened at 14.54 on Tuesday. Infosys Limited has a 12-month low of $13.42 and a 12-month high of $16.71. The company has a market cap of $33.23 billion, a PE ratio of 15.32 and a beta of 0.79. The firm has a 50 day moving average price of $15.28 and a 200 day moving average price of $15.19.
Infosys Limited (NYSE:INFY) last announced its quarterly earnings data on Friday, July 14th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Infosys Limited had a net margin of 20.95% and a return on equity of 21.37%. The firm had revenue of $170.78 billion for the quarter, compared to analysts’ expectations of $170.51 billion. During the same period last year, the firm earned $0.22 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, analysts anticipate that Infosys Limited will post $0.99 earnings per share for the current fiscal year.
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Large investors have recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Infosys Limited by 67.8% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 424,295 shares of the technology company’s stock worth $6,373,000 after acquiring an additional 171,509 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Infosys Limited during the first quarter worth $480,000. Sprucegrove Investment Management Ltd. raised its holdings in shares of Infosys Limited by 15.3% during the first quarter. Sprucegrove Investment Management Ltd. now owns 8,970,180 shares of the technology company’s stock worth $141,729,000 after acquiring an additional 1,189,000 shares during the period. Credit Suisse AG raised its holdings in shares of Infosys Limited by 26.9% during the first quarter. Credit Suisse AG now owns 4,156,373 shares of the technology company’s stock worth $65,672,000 after acquiring an additional 880,044 shares during the period. Finally, Maple Brown Abbott Ltd raised its holdings in shares of Infosys Limited by 183.6% during the first quarter. Maple Brown Abbott Ltd now owns 1,484,094 shares of the technology company’s stock worth $23,449,000 after acquiring an additional 960,723 shares during the period. Institutional investors and hedge funds own 19.86% of the company’s stock.
About Infosys Limited
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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