Infosys Ltd (NYSE:INFY) hit a new 52-week high during trading on Friday . The company traded as high as $10.68 and last traded at $10.34, with a volume of 1453852 shares traded. The stock had previously closed at $9.88.

Several brokerages have recently issued reports on INFY. Robert W. Baird raised their target price on shares of Infosys from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, September 14th. ValuEngine raised shares of Infosys from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Goldman Sachs Group lowered shares of Infosys from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a research note on Wednesday, October 17th. BMO Capital Markets reaffirmed a “hold” rating and issued a $11.00 target price on shares of Infosys in a research note on Wednesday, October 17th. Finally, Wedbush reduced their target price on shares of Infosys from $18.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 27th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. Infosys presently has an average rating of “Hold” and a consensus price target of $13.73.

The stock has a market cap of $42.90 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 1.85 and a beta of 0.42.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Tuesday, October 16th. The technology company reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.13. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. Infosys had a net margin of 21.94% and a return on equity of 24.56%. During the same period last year, the company posted $0.13 EPS. As a group, equities research analysts forecast that Infosys Ltd will post 0.52 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in INFY. Rehmann Capital Advisory Group grew its stake in shares of Infosys by 100.4% during the 3rd quarter. Rehmann Capital Advisory Group now owns 5,439 shares of the technology company’s stock worth $55,000 after acquiring an additional 2,725 shares in the last quarter. Strategic Wealth Partners Ltd. grew its stake in shares of Infosys by 100.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 8,000 shares of the technology company’s stock valued at $81,000 after buying an additional 4,000 shares in the last quarter. Daiwa SB Investments Ltd. grew its stake in shares of Infosys by 100.0% in the third quarter. Daiwa SB Investments Ltd. now owns 10,600 shares of the technology company’s stock valued at $108,000 after buying an additional 5,300 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Infosys by 10.2% in the second quarter. Advisors Asset Management Inc. now owns 66,850 shares of the technology company’s stock valued at $1,299,000 after buying an additional 6,200 shares in the last quarter. Finally, Financial Architects Inc grew its stake in shares of Infosys by 100.0% in the third quarter. Financial Architects Inc now owns 13,140 shares of the technology company’s stock valued at $134,000 after buying an additional 6,570 shares in the last quarter. Hedge funds and other institutional investors own 18.18% of the company’s stock.

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About Infosys (NYSE:INFY)

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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