Infosys (NYSE:INFY) Receives “Outperform” Rating from Wedbush

Wedbush restated their outperform rating on shares of Infosys (NYSE:INFY) in a research note released on Monday, Benzinga reports. They currently have a $22.00 price target on the technology company’s stock.

INFY has been the subject of several other reports. JPMorgan Chase & Co. started coverage on Infosys in a research note on Tuesday, May 23rd. They set an underweight rating and a $14.00 target price for the company. Nomura upgraded Infosys from a reduce rating to a neutral rating in a research note on Friday, September 8th. The Goldman Sachs Group started coverage on Infosys in a research note on Tuesday, August 22nd. They set a buy rating for the company. Finally, StockNews.com started coverage on Infosys in a research note on Thursday, August 17th. They set a hold rating for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Infosys presently has an average rating of Hold and a consensus price target of $18.00.

Infosys Stock Performance

Shares of INFY opened at $17.78 on Monday. The stock has a market capitalization of $73.58 billion, a P/E ratio of 24.69, a P/E/G ratio of 2.54 and a beta of 0.97. The company’s fifty day moving average is $17.05 and its two-hundred day moving average is $16.43. Infosys has a 1 year low of $14.71 and a 1 year high of $20.57.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Thursday, July 20th. The technology company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.55 billion. Infosys had a return on equity of 32.39% and a net margin of 16.41%. Sell-side analysts predict that Infosys will post 0.71 EPS for the current year.

Institutional Trading of Infosys

Several large investors have recently made changes to their positions in INFY. FWL Investment Management LLC acquired a new position in Infosys in the fourth quarter valued at about $27,000. WealthPLAN Partners LLC acquired a new position in Infosys in the first quarter valued at about $35,000. Psagot Value Holdings Ltd. Israel acquired a new stake in shares of Infosys during the first quarter worth about $36,000. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Infosys during the fourth quarter worth about $37,000. Finally, Syverson Strege & Co acquired a new stake in shares of Infosys during the first quarter worth about $46,000. Institutional investors own 11.39% of the company’s stock.

About Infosys

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.