Infosys Limited (NYSE:INFY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

According to Zacks, “In the past six months, Infosys shares have underperformed the industry average. Infosys is facing business disruption due to a high-profile CEO’s exit, bitter ego battles between top management and a co-founder, plus the reputational damage suffered because of a possible securities fraud charge. In addition, U.S. President Trump’s anti-immigration stance and rising costs pose as major headwinds. The fate of H-1B visas will be a crucial determinant of the company’s future profitability. However, Infosys’ results are benefiting from diligent operational execution. Its Renew New strategy has helped reap multiple benefits, including renewing traditional services, winning deals, introducing services and monetizing from key initiatives. In addition, the company’s solid financial health adds to its strength. Its new offerings under its business platforms like Edge, Panaya and Skava are also helping it gain new clients.”

Other analysts have also recently issued reports about the stock. HSBC Holdings plc raised shares of Infosys Limited from a “hold” rating to a “buy” rating in a research note on Thursday, June 8th. BidaskClub raised shares of Infosys Limited from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. UBS AG cut shares of Infosys Limited from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Cowen and Company set a $15.00 price objective on shares of Infosys Limited and gave the stock a “hold” rating in a research note on Friday, August 18th. Finally, Goldman Sachs Group, Inc. (The) raised shares of Infosys Limited from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $12.80 to $14.65 in a research note on Sunday. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $15.45.

Shares of Infosys Limited (NYSE:INFY) traded up 0.717% during trading on Monday, reaching $14.755. 1,695,941 shares of the company’s stock were exchanged. The company has a market capitalization of $33.73 billion, a PE ratio of 15.548 and a beta of 0.79. The company has a 50 day moving average price of $15.14 and a 200-day moving average price of $15.17. Infosys Limited has a 52-week low of $13.42 and a 52-week high of $16.71.

Infosys Limited (NYSE:INFY) last posted its earnings results on Friday, July 14th. The technology company reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. The business had revenue of $170.78 billion for the quarter, compared to analysts’ expectations of $170.51 billion. Infosys Limited had a net margin of 20.95% and a return on equity of 21.37%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share. On average, equities analysts forecast that Infosys Limited will post $0.99 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “Infosys Limited (INFY) Downgraded by Zacks Investment Research to Hold” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of international copyright & trademark laws. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/09/18/infosys-limited-infy-downgraded-by-zacks-investment-research-to-hold.html.

Several hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its position in shares of Infosys Limited by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 18,729 shares of the technology company’s stock worth $282,000 after purchasing an additional 395 shares in the last quarter. Wetherby Asset Management Inc. lifted its position in shares of Infosys Limited by 1.1% during the second quarter. Wetherby Asset Management Inc. now owns 40,994 shares of the technology company’s stock worth $616,000 after purchasing an additional 464 shares in the last quarter. Sumitomo Life Insurance Co. lifted its position in shares of Infosys Limited by 3.4% during the second quarter. Sumitomo Life Insurance Co. now owns 15,040 shares of the technology company’s stock worth $226,000 after purchasing an additional 500 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Infosys Limited by 3.6% during the first quarter. Earnest Partners LLC now owns 14,852 shares of the technology company’s stock worth $235,000 after purchasing an additional 513 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Infosys Limited by 2.1% during the second quarter. Creative Planning now owns 24,672 shares of the technology company’s stock worth $371,000 after purchasing an additional 513 shares in the last quarter. Institutional investors 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.

Analyst Recommendations for Infosys Limited (NYSE:INFY)

Receive News & Stock Ratings for Infosys Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infosys Limited and related stocks with our FREE daily email newsletter.