Deutsche Bank cut shares of Infosys (NYSE:INFY) from a buy rating to a hold rating in a research report report published on Monday, The Fly reports.
A number of other research firms have also recently weighed in on INFY. Investec cut Infosys from a buy rating to a hold rating in a report on Monday. Credit Suisse Group cut Infosys from a neutral rating to an underperform rating in a report on Monday. Morgan Stanley cut Infosys from an overweight rating to an equal weight rating and set a $10.62 price target for the company. in a report on Monday. Citigroup cut Infosys from a buy rating to a neutral rating in a report on Monday. Finally, Wells Fargo & Co reaffirmed a hold rating on shares of Infosys in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. The company presently has an average rating of Hold and an average target price of $11.26.
Shares of INFY opened at $10.39 on Monday. Infosys has a 1 year low of $8.45 and a 1 year high of $11.38. The company has a market capitalization of $45.24 billion, a PE ratio of 19.24, a P/E/G ratio of 1.90 and a beta of 0.54.
Infosys (NYSE:INFY) last issued its earnings results on Friday, April 12th. The technology company reported $0.13 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.13. Infosys had a return on equity of 25.41% and a net margin of 18.62%. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the firm posted $0.13 EPS. Research analysts predict that Infosys will post 0.56 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. New York State Common Retirement Fund boosted its position in Infosys by 6.9% in the 4th quarter. New York State Common Retirement Fund now owns 1,121,112 shares of the technology company’s stock valued at $10,673,000 after buying an additional 72,495 shares during the last quarter. Two Sigma Advisers LP boosted its position in Infosys by 9.9% in the 4th quarter. Two Sigma Advisers LP now owns 708,400 shares of the technology company’s stock valued at $6,744,000 after buying an additional 63,700 shares during the last quarter. Verition Fund Management LLC bought a new position in Infosys in the 3rd quarter valued at $656,000. CWM LLC boosted its position in Infosys by 60,225.0% in the 4th quarter. CWM LLC now owns 120,650 shares of the technology company’s stock valued at $1,149,000 after buying an additional 120,450 shares during the last quarter. Finally, LPL Financial LLC boosted its position in Infosys by 18.0% in the 4th quarter. LPL Financial LLC now owns 153,104 shares of the technology company’s stock valued at $1,458,000 after buying an additional 23,342 shares during the last quarter. Hedge funds and other institutional investors own 17.81% of the company’s stock.
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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