Investec downgraded shares of Infosys (NYSE:INFY) from a buy rating to a hold rating in a research note issued to investors on Monday, BenzingaRatingsTable reports.
A number of other research analysts also recently weighed in on the company. Credit Suisse Group downgraded Infosys from a neutral rating to an underperform rating in a report on Monday. Morgan Stanley downgraded Infosys from an overweight rating to an equal weight rating and set a $10.62 target price on the stock. in a report on Monday. Citigroup downgraded Infosys from a buy rating to a neutral rating in a report on Monday. Wells Fargo & Co reissued a hold rating on shares of Infosys in a report on Friday. Finally, Zacks Investment Research downgraded Infosys from a hold rating to a sell rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. The company presently has an average rating of Hold and a consensus price target of $11.26.
INFY stock opened at $10.57 on Monday. Infosys has a fifty-two week low of $8.40 and a fifty-two week high of $11.38. The stock has a market capitalization of $45.85 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 1.88 and a beta of 0.54.
Infosys (NYSE:INFY) last posted its earnings results on Friday, April 12th. The technology company reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.13. Infosys had a return on equity of 25.65% and a net margin of 18.62%. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the company earned $0.13 earnings per share. On average, equities research analysts forecast that Infosys will post 0.56 EPS for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Fisher Asset Management LLC increased its position in Infosys by 1.6% in the fourth quarter. Fisher Asset Management LLC now owns 41,879,875 shares of the technology company’s stock worth $398,696,000 after buying an additional 647,262 shares in the last quarter. Investec Asset Management LTD increased its position in Infosys by 23.1% in the fourth quarter. Investec Asset Management LTD now owns 39,628,149 shares of the technology company’s stock worth $377,260,000 after buying an additional 7,430,134 shares in the last quarter. Bank of New York Mellon Corp increased its position in Infosys by 1,119,378.1% in the third quarter. Bank of New York Mellon Corp now owns 34,065,719 shares of the technology company’s stock worth $346,449,000 after buying an additional 34,062,676 shares in the last quarter. BlackRock Inc. increased its position in Infosys by 166.6% in the third quarter. BlackRock Inc. now owns 29,932,893 shares of the technology company’s stock worth $304,416,000 after buying an additional 18,705,434 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Infosys by 140.0% in the third quarter. AQR Capital Management LLC now owns 25,803,860 shares of the technology company’s stock worth $262,425,000 after buying an additional 15,050,391 shares in the last quarter. Institutional investors and hedge funds own 17.81% of the company’s stock.
Infosys Company Profile
Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.
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