Zacks Investment Research upgraded shares of Infosys Limited (NYSE:INFY) from a sell rating to a hold rating in a report released on Monday, July 17th. They currently have $18.00 price target on the technology company’s stock.
According to Zacks, “Infosys’ first-quarter fiscal 2018 earnings topped the Zacks Consensus Estimate and were up 5.8% year over year. The bottom line benefited from a modest top-line performance and diligent operational execution. Infosys’ Renew New strategy has helped reap multiple benefits, including renewing traditional services, winning deals, introducing services and monetizing from key initiatives. In addition, the company’s solid financial health adds to its strength. However, Infosys’ shares have underperformed the Zacks categorized IT Services industry average over the past six months. U.S. President-elect Donald Trump’s anti-immigration stance, rising costs and on-site expansion pose as major headwinds. The fate of H-1B visas will be a crucial determinant of the company’s future profitability. Also, currency fluctuations and a dearth of outsourcing work are likely to thwart growth momentum, going forward.”
INFY has been the subject of a number of other reports. Goldman Sachs Group, Inc. (The) reiterated a sell rating on shares of Infosys Limited in a research report on Friday, June 9th. William Blair cut shares of Infosys Limited from a market perform rating to an underperform rating in a research note on Thursday, April 13th. Cowen and Company set a $15.00 price objective on shares of Infosys Limited and gave the stock a hold rating in a research note on Thursday, April 13th. BMO Capital Markets reissued a hold rating and set a $15.00 price objective on shares of Infosys Limited in a research note on Thursday, March 23rd. Finally, Oppenheimer Holdings, Inc. reissued a market perform rating on shares of Infosys Limited in a research note on Tuesday, April 18th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $16.08.
Infosys Limited (NYSE INFY) traded up 1.11% during midday trading on Monday, reaching $15.49. The company’s stock had a trading volume of 3,417,108 shares. The firm has a market capitalization of $35.41 billion, a P/E ratio of 16.32 and a beta of 0.79. Infosys Limited has a 52 week low of $13.42 and a 52 week high of $16.71. The company’s 50-day moving average is $15.43 and its 200 day moving average is $15.08.
Infosys Limited (NYSE:INFY) last posted its quarterly earnings results on Friday, July 14th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. Infosys Limited had a net margin of 20.95% and a return on equity of 21.37%. The company had revenue of $170.78 billion during the quarter, compared to the consensus estimate of $170.51 billion. During the same period last year, the firm earned $0.22 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts expect that Infosys Limited will post $0.98 earnings per share for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in INFY. Bank of Montreal Can boosted its stake in Infosys Limited by 30.0% in the first quarter. Bank of Montreal Can now owns 2,046,801 shares of the technology company’s stock valued at $32,340,000 after buying an additional 472,613 shares during the last quarter. Guggenheim Capital LLC boosted its stake in Infosys Limited by 12.2% in the fourth quarter. Guggenheim Capital LLC now owns 264,288 shares of the technology company’s stock valued at $3,919,000 after buying an additional 28,796 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Infosys Limited during the first quarter valued at approximately $480,000. Sprucegrove Investment Management Ltd. boosted its stake in Infosys Limited by 15.3% in the first quarter. Sprucegrove Investment Management Ltd. now owns 8,970,180 shares of the technology company’s stock valued at $141,729,000 after buying an additional 1,189,000 shares during the last quarter. Finally, Credit Suisse AG boosted its stake in Infosys Limited by 26.9% in the first quarter. Credit Suisse AG now owns 4,156,373 shares of the technology company’s stock valued at $65,672,000 after buying an additional 880,044 shares during the last quarter. 20.77% of the stock is owned by hedge funds and other institutional investors.
Infosys Limited Company Profile
Infosys Limited is engaged in consulting, technology, outsourcing and next-generation services. The Company, along with its subsidiaries, provides business information technology services comprising application development and maintenance, independent validation, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking solution, and offerings in the areas of Analytics, Cloud and Digital Transformation.
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