Infosys (INFY) Upgraded by Bank of America to Buy

Bank of America upgraded shares of Infosys (NYSE:INFY) from a neutral rating to a buy rating in a report issued on Tuesday.

Several other brokerages also recently commented on INFY. BidaskClub downgraded shares of Infosys from a sell rating to a strong sell rating in a research report on Saturday, November 4th. Stifel Nicolaus restated a hold rating on shares of Infosys in a research report on Thursday, October 26th. Oppenheimer restated a hold rating on shares of Infosys in a research report on Tuesday, October 24th. Cowen restated a hold rating and set a $15.00 price objective on shares of Infosys in a research report on Thursday, October 12th. Finally, Zacks Investment Research downgraded shares of Infosys from a buy rating to a hold rating in a research report on Thursday, October 5th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $15.34.

Infosys (NYSE INFY) traded up $0.23 during midday trading on Tuesday, hitting $15.69. 5,626,600 shares of the stock were exchanged, compared to its average volume of 6,348,058. Infosys has a 52 week low of $13.42 and a 52 week high of $16.15. The firm has a market capitalization of $35,336.60, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 1.68 and a beta of 0.69.

Infosys (NYSE:INFY) last released its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Infosys had a net margin of 21.04% and a return on equity of 21.05%. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the business earned $0.24 earnings per share. research analysts predict that Infosys will post 0.98 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its stake in shares of Infosys 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 buying an additional 5,295 shares during the last quarter. Equity Investment Corp Acquisition Inc bought a new stake in shares of Infosys in the second quarter worth $151,000. Foster & Motley Inc. bought a new stake in shares of Infosys in the third quarter worth $166,000. Rational Advisors LLC bought a new stake in shares of Infosys in the second quarter worth $183,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Infosys by 4.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 13,365 shares of the technology company’s stock worth $201,000 after purchasing an additional 605 shares during the last quarter. 18.95% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Infosys (NYSE:INFY)

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