Infosys (INFY) Upgraded at Bank of America
Bank of America upgraded shares of Infosys (NYSE:INFY) from a neutral rating to a buy rating in a research note published on Tuesday morning, MarketBeat Ratings reports.
A number of other research analysts have also commented on the company. BidaskClub lowered Infosys from a sell rating to a strong sell rating in a research report on Saturday, November 4th. Stifel Nicolaus reiterated a hold rating on shares of Infosys in a research report on Thursday, October 26th. Oppenheimer reiterated a hold rating on shares of Infosys in a research report on Tuesday, October 24th. Cowen reiterated a hold rating and issued a $15.00 price objective on shares of Infosys in a research report on Thursday, October 12th. Finally, Zacks Investment Research lowered Infosys from a buy rating to a hold rating in a research report on Thursday, October 5th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $15.34.
Shares of Infosys (NYSE:INFY) traded up $0.11 on Tuesday, reaching $15.67. The company’s stock had a trading volume of 2,980,400 shares, compared to its average volume of 6,324,524. The company has a market cap of $35,565.16, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 1.69 and a beta of 0.69. Infosys has a 52-week low of $13.42 and a 52-week high of $16.15.
Several hedge funds have recently bought and sold shares of INFY. Tower Research Capital LLC TRC lifted its stake in shares of Infosys by 198.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,967 shares of the technology company’s stock valued at $120,000 after purchasing an additional 5,295 shares during the period. Equity Investment Corp Acquisition Inc acquired a new position in shares of Infosys in the 2nd quarter valued at $151,000. Foster & Motley Inc. acquired a new position in shares of Infosys in the 3rd quarter valued at $166,000. Rational Advisors LLC acquired a new position in shares of Infosys in the 2nd quarter valued at $183,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Infosys by 4.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 13,365 shares of the technology company’s stock valued at $201,000 after purchasing an additional 605 shares during the period. 18.95% of the stock is currently owned by institutional investors.
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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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