Infosys Limited (NYSE:INFY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “In the past six months, Infosys shares have underperformed the industry average. Infosys is facing business disruption due to a high-profile CEO’s exit, bitter ego battles between top management and a co-founder, plus the reputational damage suffered because of a possible securities fraud charge. In addition, U.S. President Trump’s anti-immigration stance and rising costs pose as major headwinds. The fate of H-1B visas will be a crucial determinant of the company’s future profitability. However, Infosys’ results are benefiting from diligent operational execution. Its 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.”
INFY has been the subject of a number of other research reports. Stifel Nicolaus reaffirmed a “hold” rating and issued a $15.50 price target on shares of Infosys Limited in a research note on Friday, August 18th. BidaskClub raised Infosys Limited from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. J P Morgan Chase & Co downgraded Infosys Limited from an “overweight” rating to a “neutral” rating in a research note on Monday, August 21st. HSBC Holdings plc raised Infosys Limited from a “hold” rating to a “buy” rating in a research note on Thursday, June 8th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $15.00 price target on shares of Infosys Limited in a research note on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. Infosys Limited currently has an average rating of “Hold” and an average price target of $15.34.
Shares of Infosys Limited (NYSE:INFY) opened at 14.80 on Monday. The company has a market cap of $33.83 billion, a price-to-earnings ratio of 15.60 and a beta of 0.79. The stock has a 50 day moving average of $15.09 and a 200 day moving average of $15.16. Infosys Limited has a 12-month low of $13.42 and a 12-month high of $16.71.
Infosys Limited (NYSE:INFY) last posted its quarterly earnings results on Friday, July 14th. The technology company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. The business had revenue of $170.78 billion during the quarter, compared to the consensus estimate of $170.51 billion. Infosys Limited had a return on equity of 21.37% and a net margin of 20.95%. Infosys Limited’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 earnings per share. On average, equities analysts expect that Infosys Limited will post $0.99 earnings per share for the current fiscal year.
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A number of institutional investors have recently added to or reduced their stakes in the business. Intl Fcstone Inc. bought a new position in Infosys Limited in the second quarter valued at about $517,000. WFG Advisors LP grew its holdings in shares of Infosys Limited by 14.5% during the second quarter. WFG Advisors LP now owns 35,455 shares of the technology company’s stock worth $533,000 after purchasing an additional 4,485 shares during the last quarter. Polaris Capital Management LLC grew its holdings in shares of Infosys Limited by 24.8% during the second quarter. Polaris Capital Management LLC now owns 7,765,928 shares of the technology company’s stock worth $116,644,000 after purchasing an additional 1,541,776 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Infosys Limited by 198.2% during the second quarter. Tower Research Capital LLC TRC now owns 7,967 shares of the technology company’s stock worth $120,000 after purchasing an additional 5,295 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Infosys Limited by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 18,729 shares of the technology company’s stock worth $282,000 after purchasing an additional 395 shares during the last quarter. Hedge funds and other institutional investors own 19.86% of the company’s stock.
About Infosys Limited
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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