Infosys (INFY) Stock Rating Lowered by Zacks Investment Research

Infosys (NYSE:INFY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “Infosys has a solid earnings surprise history, having beaten estimates thrice in the trailing four quarters. Its results are benefiting from diligent operational execution. The company’s 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. Its new offerings under its business platforms like Edge, Panaya and Skava are also helping it gain new clients. However, Infosys has faced business disruption in the recent past due to a high-profile CEO’s exit and a possible securities fraud charge. In addition, U.S. President Trump’s anti-immigration stance and rising costs pose as major headwinds. In the past six months, Infosys shares have underperformed the industry average.  “

INFY has been the topic of several other reports. BidaskClub lowered shares of Infosys from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 4th. Robert W. Baird restated a “hold” rating and set a $16.00 price objective on shares of Infosys in a research note on Wednesday, October 4th. Cantor Fitzgerald restated a “hold” rating and set a $14.00 price objective on shares of Infosys in a research note on Sunday. Goldman Sachs Group upgraded shares of Infosys from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $12.40 to $12.88 in a research note on Sunday, September 17th. Finally, Cowen restated a “hold” rating and set a $15.00 price objective on shares of Infosys in a research note on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $15.34.

Shares of Infosys (INFY) traded up $0.25 during trading hours on Thursday, reaching $16.99. 8,226,200 shares of the company’s stock traded hands, compared to its average volume of 6,372,114. Infosys has a 52-week low of $13.42 and a 52-week high of $17.15. The company has a market cap of $36,100.00, a PE ratio of 16.99, a PEG ratio of 1.86 and a beta of 0.73.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. Infosys had a net margin of 21.04% and a return on equity of 21.05%. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the previous year, the firm posted $0.24 EPS. research analysts expect that Infosys will post 0.99 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in INFY. Mondrian Investment Partners LTD grew its stake in Infosys by 67.4% in the 3rd quarter. Mondrian Investment Partners LTD now owns 8,792,515 shares of the technology company’s stock valued at $128,283,000 after buying an additional 3,541,514 shares during the last quarter. ARGA Investment Management LP acquired a new position in Infosys in the 3rd quarter valued at about $45,436,000. Yacktman Asset Management LP grew its stake in Infosys by 56.8% in the 3rd quarter. Yacktman Asset Management LP now owns 6,031,017 shares of the technology company’s stock valued at $87,993,000 after buying an additional 2,184,646 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Infosys in the 2nd quarter valued at about $32,433,000. Finally, Polaris Capital Management LLC grew its stake in Infosys by 24.8% in the 2nd quarter. Polaris Capital Management LLC now owns 7,765,928 shares of the technology company’s stock valued at $116,644,000 after buying an additional 1,541,776 shares during the last quarter. Institutional investors and hedge funds own 18.85% of the company’s stock.

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About Infosys

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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