ValuEngine cut shares of Infosys (NYSE:INFY) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

A number of other equities research analysts also recently issued reports on the stock. Morgan Stanley downgraded shares of Infosys from an overweight rating to a hold rating in a research note on Monday, August 20th. Cantor Fitzgerald upped their price target on shares of Infosys from $16.00 to $19.00 and gave the company a neutral rating in a research note on Monday, July 16th. Cowen upped their price target on shares of Infosys from $16.00 to $17.00 and gave the company a market perform rating in a research note on Monday, July 16th. Deutsche Bank assumed coverage on shares of Infosys in a research note on Thursday, July 12th. They set a buy rating on the stock. Finally, Zacks Investment Research downgraded shares of Infosys from a hold rating to a sell rating in a research note on Thursday, June 21st. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $16.24.

INFY stock opened at $10.32 on Wednesday. Infosys has a one year low of $7.07 and a one year high of $10.65. The firm has a market capitalization of $45.85 billion, a PE ratio of 20.49, a P/E/G ratio of 2.03 and a beta of 0.41.

Infosys (NYSE:INFY) last released its earnings results on Friday, July 13th. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.87 billion. Infosys had a net margin of 22.30% and a return on equity of 23.22%. research analysts expect that Infosys will post 0.53 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. increased its position in Infosys by 10.2% during the second quarter. Advisors Asset Management Inc. now owns 66,850 shares of the technology company’s stock valued at $1,299,000 after acquiring an additional 6,200 shares during the last quarter. Nomura Holdings Inc. increased its position in Infosys by 321.2% during the second quarter. Nomura Holdings Inc. now owns 40,724 shares of the technology company’s stock valued at $643,000 after acquiring an additional 59,131 shares during the last quarter. Putnam Investments LLC bought a new position in Infosys during the second quarter valued at $814,000. Baldwin Investment Management LLC increased its position in Infosys by 11.9% during the second quarter. Baldwin Investment Management LLC now owns 41,431 shares of the technology company’s stock valued at $805,000 after acquiring an additional 4,400 shares during the last quarter. Finally, Sensato Investors LLC bought a new position in Infosys during the second quarter valued at $2,199,000. Institutional investors and hedge funds own 17.58% of the company’s stock.

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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