Robert W. Baird lowered shares of Infosys (NYSE:INFY) from a neutral rating to an underperform rating in a research report released on Thursday morning, AR Network reports.
Several other research firms have also recently commented on INFY. Nomura Instinet upgraded shares of Infosys from a neutral rating to a buy rating in a report on Thursday, July 16th. Goldman Sachs Group upgraded Infosys from a buy rating to a conviction-buy rating in a research note on Monday, July 6th. ValuEngine downgraded Infosys from a hold rating to a sell rating in a research note on Wednesday, July 8th. Nomura raised Infosys from a neutral rating to a buy rating in a research note on Thursday, July 16th. Finally, Wedbush upgraded Infosys from a neutral rating to an outperform rating and increased their price objective for the stock from $12.00 to $14.00 in a report on Thursday, July 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $12.86.
Shares of INFY opened at $15.51 on Thursday. The company has a market capitalization of $65.78 billion, a price-to-earnings ratio of 28.20, a P/E/G ratio of 2.82 and a beta of 0.81. Infosys has a fifty-two week low of $6.76 and a fifty-two week high of $16.62. The business’s 50-day moving average is $13.57 and its 200-day moving average is $10.94.
Infosys (NYSE:INFY) last announced its quarterly earnings data on Wednesday, October 14th. The technology company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. Infosys had a net margin of 18.35% and a return on equity of 27.03%. During the same quarter in the prior year, the firm earned $0.13 EPS. On average, equities analysts predict that Infosys will post 0.55 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in INFY. Amundi Pioneer Asset Management Inc. raised its position in shares of Infosys by 55.9% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 754,200 shares of the technology company’s stock valued at $8,244,000 after purchasing an additional 270,402 shares during the period. Federated Hermes Inc. bought a new stake in shares of Infosys during the 1st quarter worth $493,000. Legal & General Group Plc grew its stake in Infosys by 82.0% in the 1st quarter. Legal & General Group Plc now owns 806,474 shares of the technology company’s stock valued at $6,625,000 after buying an additional 363,405 shares during the last quarter. Geode Capital Management LLC raised its holdings in Infosys by 13.6% in the 1st quarter. Geode Capital Management LLC now owns 867,268 shares of the technology company’s stock worth $7,096,000 after acquiring an additional 103,896 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Infosys by 22.2% during the 1st quarter. Wells Fargo & Company MN now owns 4,568,869 shares of the technology company’s stock worth $37,510,000 after acquiring an additional 830,803 shares during the last quarter. 17.24% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading: Coverage Ratio
Receive News & Ratings for Infosys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infosys and related companies with MarketBeat.com's FREE daily email newsletter.