Infosys (NYSE:INFY) Stock Jumps 6.1% – Still a Buy?

Infosys Ltd. (NYSE:INFY)’s stock price shot up 6.1% on Tuesday. The company traded as high as $11.47 and last traded at $11.4950. Approximately 2,453,345 shares were traded during mid-day trading, a decline of 87% from the average session volume of 18,637,455 shares. The stock had previously closed at $10.83.

Analyst Upgrades and Downgrades

Several research firms have issued reports on INFY. Stifel Nicolaus set a $13.00 price objective on Infosys and gave the stock a “hold” rating in a research note on Thursday, July 16th. The Goldman Sachs Group reissued a “neutral” rating and set a $10.40 price objective on shares of Infosys in a report on Thursday, October 1st. HSBC set a $11.47 target price on shares of Infosys and gave the company a “hold” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $10.90 target price (down from $12.70) on shares of Infosys in a report on Friday, July 24th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Infosys in a report on Monday, August 31st. Ten research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $11.45.

Infosys Stock Up 0.6%

The company’s fifty day moving average price is $11.44 and its two-hundred day moving average price is $11.96. The company has a market cap of $46.44 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 2.65 and a beta of 0.88.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, July 23rd. The technology company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). The business had revenue of $4.99 billion during the quarter, compared to analyst estimates of $5.08 billion. Infosys had a return on equity of 33.91% and a net margin of 16.38%. Research analysts forecast that Infosys Ltd. will post 0.81 earnings per share for the current year.

Hedge Funds Weigh In On Infosys

Several institutional investors have recently bought and sold shares of INFY. Confluence Investment Management LLC boosted its position in Infosys by 5.5% in the 3rd quarter. Confluence Investment Management LLC now owns 18,601 shares of the technology company’s stock valued at $200,000 after buying an additional 965 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in shares of Infosys by 14.2% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 9,090 shares of the technology company’s stock valued at $97,000 after buying an additional 1,131 shares during the period. QRG Capital Management Inc. raised its position in shares of Infosys by 4.5% during the second quarter. QRG Capital Management Inc. now owns 30,832 shares of the technology company’s stock worth $323,000 after acquiring an additional 1,335 shares during the last quarter. Boston Common Asset Management LLC raised its position in shares of Infosys by 1.1% during the first quarter. Boston Common Asset Management LLC now owns 208,639 shares of the technology company’s stock worth $2,819,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its stake in shares of Infosys by 17.8% during the first quarter. Glenmede Trust Co. NA now owns 21,055 shares of the technology company’s stock valued at $284,000 after acquiring an additional 3,179 shares during the period. Institutional investors own 16.20% of the company’s stock.

About Infosys

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.