Infosys Limited (INFY) Rating Increased to Buy at Deutsche Bank AG
Infosys Limited (NYSE:INFY) was upgraded by equities research analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating in a research report issued on Monday.
A number of other brokerages have also commented on INFY. Zacks Investment Research raised shares of Infosys Limited from a “sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a report on Monday, July 17th. Cantor Fitzgerald reissued a “hold” rating on shares of Infosys Limited in a report on Friday, August 25th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating on shares of Infosys Limited in a report on Friday, June 9th. Cowen and Company set a $15.00 price objective on shares of Infosys Limited and gave the stock a “hold” rating in a report on Friday, August 18th. Finally, UBS AG lowered shares of Infosys Limited from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $16.25.
Infosys Limited (INFY) opened at 15.27 on Monday. The stock has a market capitalization of $34.90 billion, a PE ratio of 16.09 and a beta of 0.79. Infosys Limited has a 12-month low of $13.42 and a 12-month high of $16.71. The company’s 50-day moving average is $15.46 and its 200 day moving average is $15.17.
Infosys Limited (NYSE:INFY) last issued its quarterly earnings data on Friday, July 14th. The technology company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. Infosys Limited had a net margin of 20.95% and a return on equity of 21.37%. The firm had revenue of $170.78 billion for the quarter, compared to analyst estimates of $170.51 billion. During the same quarter in the prior year, the firm earned $0.22 EPS. The company’s revenue was up 1.8% on a year-over-year basis. On average, analysts predict that Infosys Limited will post $0.99 EPS for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of INFY. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Infosys Limited during the first quarter valued at about $480,000. Sprucegrove Investment Management Ltd. raised its position in shares of Infosys Limited by 15.3% in the first quarter. Sprucegrove Investment Management Ltd. now owns 8,970,180 shares of the technology company’s stock valued at $141,729,000 after buying an additional 1,189,000 shares during the period. Credit Suisse AG raised its position in shares of Infosys Limited by 26.9% in the first quarter. Credit Suisse AG now owns 4,156,373 shares of the technology company’s stock valued at $65,672,000 after buying an additional 880,044 shares during the period. Maple Brown Abbott Ltd raised its position in shares of Infosys Limited by 183.6% in the first quarter. Maple Brown Abbott Ltd now owns 1,484,094 shares of the technology company’s stock valued at $23,449,000 after buying an additional 960,723 shares during the period. Finally, Greenleaf Trust acquired a new position in shares of Infosys Limited during the first quarter valued at about $168,000. 19.86% of the stock is currently owned by institutional investors.
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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