Infosys (NYSE:INFY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, December 26th. The brokerage currently has a $18.00 price objective on the technology company’s stock. Zacks Investment Research‘s price target points to a potential upside of 7.08% from the company’s current price.
According to Zacks, “Infosys has a solid earnings surprise history, having beaten estimates thrice in the trailing four quarters. Its results are benefiting from diligent operational execution. The company’s Renew New strategy has helped reap multiple benefits, including renewing traditional services, winning deals, introducing services and monetizing from key initiatives. The company’s services and software are also proving conducive to top-line growth. The growth in the higher margin business is proving conducive to the margin expansion. 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. However, Infosys has faced business disruption in the recent past due to a high-profile CEO’s exit and a possible securities fraud charge.”
Several other brokerages have also recently commented on INFY. Bank of America upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 5th. Deutsche Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research note on Monday, August 28th. Stifel Nicolaus reiterated a “hold” rating on shares of Infosys in a research note on Thursday, October 26th. Robert W. Baird reiterated a “hold” rating and issued a $16.00 price target on shares of Infosys in a research note on Sunday, September 3rd. Finally, Oppenheimer restated a “hold” rating on shares of Infosys in a research report on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. Infosys currently has a consensus rating of “Hold” and a consensus target price of $15.34.
Infosys (INFY) opened at $16.81 on Tuesday. Infosys has a one year low of $13.42 and a one year high of $17.37. The firm has a market cap of $35,770.00, a price-to-earnings ratio of 16.81, a P/E/G ratio of 1.86 and a beta of 0.73.
Infosys (NYSE:INFY) last released its 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. The company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Infosys had a net margin of 21.04% and a return on equity of 21.05%. During the same quarter in the previous year, the company earned $0.24 EPS. analysts forecast that Infosys will post 0.99 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Comgest Global Investors S.A.S. raised its position in shares of Infosys by 1.4% during the 2nd quarter. Comgest Global Investors S.A.S. now owns 33,248,005 shares of the technology company’s stock valued at $499,385,000 after buying an additional 465,600 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Infosys by 0.6% during the 2nd quarter. Nordea Investment Management AB now owns 33,042,144 shares of the technology company’s stock valued at $496,293,000 after buying an additional 188,589 shares in the last quarter. Seafarer Capital Partners LLC raised its position in shares of Infosys by 1.7% during the 3rd quarter. Seafarer Capital Partners LLC now owns 9,821,000 shares of the technology company’s stock valued at $143,288,000 after buying an additional 166,000 shares in the last quarter. Mondrian Investment Partners LTD raised its position in shares of Infosys by 67.4% during the 3rd quarter. Mondrian Investment Partners LTD now owns 8,792,515 shares of the technology company’s stock valued at $128,283,000 after buying an additional 3,541,514 shares in the last quarter. Finally, Prudential PLC raised its position in shares of Infosys by 1.6% during the 2nd quarter. Prudential PLC now owns 8,656,300 shares of the technology company’s stock valued at $130,018,000 after buying an additional 139,000 shares in the last quarter. Hedge funds and other institutional investors own 18.85% of the company’s stock.
Infosys Company Profile
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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