Investec Lowers Infosys (INFY) to Hold

Infosys (NYSE:INFY) was downgraded by equities researchers at Investec from a “buy” rating to a “hold” rating in a research note issued on Monday, MarketBeat reports.

INFY has been the topic of several other research reports. Zacks Investment Research downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. Credit Suisse Group downgraded shares of Infosys from a “neutral” rating to an “underperform” rating in a research note on Monday. HSBC downgraded shares of Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. Morgan Stanley downgraded shares of Infosys from an “overweight” rating to an “equal weight” rating and set a $10.62 price objective on the stock. in a research note on Monday. Finally, Nomura raised shares of Infosys from a “reduce” rating to a “neutral” rating in a research note on Monday, January 14th. Three equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. Infosys currently has a consensus rating of “Hold” and an average price target of $11.26.

INFY stock opened at $10.37 on Monday. The company has a market capitalization of $45.94 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 1.88 and a beta of 0.54. Infosys has a 12 month low of $8.40 and a 12 month high of $11.38.

Infosys (NYSE:INFY) last released its quarterly earnings results on Friday, April 12th. The technology company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.04 billion. Infosys had a net margin of 18.62% and a return on equity of 25.65%. During the same period in the prior year, the business earned $0.13 earnings per share. Sell-side analysts predict that Infosys will post 0.56 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in INFY. New York State Common Retirement Fund raised its stake in Infosys by 6.9% during the fourth quarter. New York State Common Retirement Fund now owns 1,121,112 shares of the technology company’s stock worth $10,673,000 after purchasing an additional 72,495 shares during the period. Two Sigma Advisers LP raised its stake in Infosys by 9.9% during the fourth quarter. Two Sigma Advisers LP now owns 708,400 shares of the technology company’s stock worth $6,744,000 after purchasing an additional 63,700 shares during the period. Verition Fund Management LLC purchased a new position in Infosys during the third quarter worth approximately $656,000. CWM LLC raised its stake in Infosys by 60,225.0% during the fourth quarter. CWM LLC now owns 120,650 shares of the technology company’s stock worth $1,149,000 after purchasing an additional 120,450 shares during the period. Finally, LPL Financial LLC raised its stake in Infosys by 18.0% during the fourth quarter. LPL Financial LLC now owns 153,104 shares of the technology company’s stock worth $1,458,000 after purchasing an additional 23,342 shares during the period. 17.81% of the stock is currently owned by institutional investors and hedge funds.

About Infosys

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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