Cantor Fitzgerald Reaffirms Hold Rating for Infosys (INFY)

Cantor Fitzgerald reissued their hold rating on shares of Infosys (NYSE:INFY) in a research report report published on Friday. They currently have a $10.00 price target on the technology company’s stock.

“. We maintain our Neutral rating on INFY and our $10 PT*. Infosys reported quarterly top line (+10.1% y/y cc vs. 12.1% y/y cc for TCS) results above expectations but bottom line results slightly below due to tax. Top line guidance was raised while operating margin guidance was maintained. Headcount grew, attrition was down, and utilization decreased. Financial services grew 7%, below company average, an acceleration from 4% in the prior quarter. We look to the call to provide an update on the demand environment, financial services vertical, margin performance and sustainability, and guidance outlook. Stock is down 1% pre-market.”,” Cantor Fitzgerald’s analyst commented.

A number of other analysts have also recently commented on INFY. ValuEngine raised shares of Infosys from a sell rating to a hold rating in a research note on Tuesday, October 2nd. Robert W. Baird upped their price objective on shares of Infosys from $9.00 to $10.00 and gave the company a neutral rating in a research note on Friday, September 14th. Goldman Sachs Group cut shares of Infosys from a buy rating to a neutral rating and set a $11.00 price objective for the company. in a research note on Wednesday, October 17th. BMO Capital Markets reaffirmed a hold rating and set a $11.00 price objective on shares of Infosys in a research note on Wednesday, October 17th. Finally, Citigroup raised shares of Infosys from a neutral rating to a buy rating in a research note on Friday, January 4th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $13.48.

INFY opened at $10.41 on Friday. Infosys has a fifty-two week low of $8.24 and a fifty-two week high of $10.68. The firm has a market capitalization of $42.90 billion, a price-to-earnings ratio of 20.82, a PEG ratio of 1.85 and a beta of 0.42.

Infosys (NYSE:INFY) last released its quarterly earnings data on Tuesday, October 16th. The technology company reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.13. Infosys had a net margin of 21.94% and a return on equity of 24.56%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the previous year, the company earned $0.13 earnings per share. As a group, equities research analysts expect that Infosys will post 0.52 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Rehmann Capital Advisory Group grew its position in shares of Infosys by 100.4% in the 3rd quarter. Rehmann Capital Advisory Group now owns 5,439 shares of the technology company’s stock valued at $55,000 after buying an additional 2,725 shares during the last quarter. Strategic Wealth Partners Ltd. lifted its stake in shares of Infosys by 100.0% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 8,000 shares of the technology company’s stock worth $81,000 after acquiring an additional 4,000 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Infosys in the 3rd quarter worth $104,000. Daiwa SB Investments Ltd. lifted its stake in shares of Infosys by 100.0% in the third quarter. Daiwa SB Investments Ltd. now owns 10,600 shares of the technology company’s stock valued at $108,000 after purchasing an additional 5,300 shares during the period. Finally, Checchi Capital Advisers LLC acquired a new stake in shares of Infosys in the third quarter valued at about $118,000. 18.18% of the stock is currently owned by hedge funds and other institutional investors.

Infosys Company Profile

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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