Infosys (NYSE:INFY) Upgraded to “Neutral” at Nomura

Nomura upgraded shares of Infosys (NYSE:INFY) from a reduce rating to a neutral rating in a report published on Monday, The Fly reports.

INFY has been the topic of a number of other reports. Credit Suisse Group boosted their price objective on shares of JPMorgan Chase & Co. from $128.00 to $132.00 and gave the company an outperform rating in a research report on Monday, April 15th. Deutsche Bank reissued a buy rating and set a $18.00 price objective on shares of STMicroelectronics in a research report on Monday, April 15th. Citigroup raised shares of Infosys from a neutral rating to a buy rating in a research report on Friday, July 12th. HSBC downgraded shares of easyJet to a hold rating in a research report on Tuesday, April 2nd. Finally, Morgan Stanley reduced their price objective on shares of Wells Fargo & Co from $55.00 to $51.00 and set an equal weight rating on the stock in a research report on Monday, April 15th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $10.96.

NYSE:INFY opened at $11.55 on Monday. The firm’s fifty day moving average price is $10.75. Infosys has a 52 week low of $8.85 and a 52 week high of $11.64. The company has a market cap of $49.94 billion, a price-to-earnings ratio of 21.68, a P/E/G ratio of 2.20 and a beta of 0.52.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Friday, July 12th. The technology company reported $0.13 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.13. Infosys had a net margin of 18.26% and a return on equity of 25.55%. The company had revenue of $218.03 billion during the quarter, compared to analyst estimates of $216.51 billion. During the same period in the prior year, the business posted $0.13 EPS. The firm’s revenue was up 14.0% compared to the same quarter last year. On average, analysts expect that Infosys will post 0.55 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Next Capital Management LLC purchased a new stake in Infosys during the 1st quarter valued at about $26,000. Financial Gravity Wealth Inc. purchased a new stake in Infosys during the 1st quarter valued at about $27,000. NEXT Financial Group Inc grew its position in Infosys by 85.7% during the 2nd quarter. NEXT Financial Group Inc now owns 2,492 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,150 shares during the last quarter. Asahi Life Asset Management CO. LTD. purchased a new stake in Infosys during the 1st quarter valued at about $31,000. Finally, American Beacon Advisors Inc. grew its position in Infosys by 56.2% during the 1st quarter. American Beacon Advisors Inc. now owns 3,139 shares of the technology company’s stock valued at $34,000 after purchasing an additional 1,129 shares during the last quarter. 17.77% 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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Analyst Recommendations for Infosys (NYSE:INFY)

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