Infosys (NYSE:INFY) Rating Lowered to “Hold” at StockNews.com

Infosys (NYSE:INFY) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

INFY has been the subject of a number of other research reports. HSBC upgraded Infosys from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Investec downgraded Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. BMO Capital Markets increased their price target on shares of Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Hsbc Global Res raised shares of Infosys from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. Finally, Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.85.

Infosys Stock Performance

Shares of NYSE INFY opened at $22.63 on Friday. Infosys has a fifty-two week low of $16.04 and a fifty-two week high of $23.63. The company has a market cap of $93.73 billion, a PE ratio of 29.01, a P/E/G ratio of 3.77 and a beta of 1.00. The business has a 50-day simple moving average of $22.30 and a two-hundred day simple moving average of $21.88.

Infosys (NYSE:INFY) last released its earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. Infosys had a net margin of 17.15% and a return on equity of 31.43%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period last year, the business earned $0.18 EPS. On average, sell-side analysts predict that Infosys will post 0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Infosys

Hedge funds have recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. raised its position in shares of Infosys by 68.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock worth $542,051,000 after purchasing an additional 9,923,744 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Infosys by 37.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock worth $401,826,000 after buying an additional 5,862,144 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Infosys by 6,071.1% during the third quarter. Victory Capital Management Inc. now owns 4,739,830 shares of the technology company’s stock valued at $105,556,000 after acquiring an additional 4,663,023 shares during the last quarter. Millennium Management LLC lifted its position in shares of Infosys by 67.9% in the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock valued at $141,532,000 after acquiring an additional 3,074,432 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Infosys by 46.0% in the second quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company’s stock worth $97,467,000 after acquiring an additional 1,648,650 shares during the last quarter. Hedge funds and other institutional investors own 16.20% of the company’s stock.

Infosys Company Profile

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.