Infosys Limited (INFY) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Infosys Limited (NYSE:INFY) from a hold rating to a buy rating in a research note published on Tuesday morning. Zacks Investment Research currently has $17.00 price objective on the technology company’s stock.
According to Zacks, “Infosys’ Renew New strategy has helped reap multiple benefits, including renewing traditional services, winning deals, introducing services and monetizing from key initiatives. Infosys’ new offerings under its business platforms including Edge, Panaya and Skava are helping it gain new clients. Infosys’ 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. The company remains confident that growth is likely to pick up in the second half of the fiscal year as regulatory norms relax and the impact of high interest rates eases. However, Infosys’ shares have underperformed the Zacks categorized IT Services industry average over the past six months. U.S. President-elect Donald Trump’s anti-immigration stance, rising costs and on-site expansion pose as major headwinds.”
A number of other equities analysts have also issued reports on the stock. Goldman Sachs Group, Inc. (The) upgraded shares of Infosys Limited from a sell rating to a neutral rating and upped their target price for the stock from $12.40 to $12.88 in a research report on Sunday, September 17th. BidaskClub lowered shares of Infosys Limited from a hold rating to a sell rating in a research report on Tuesday, September 12th. Robert W. Baird reiterated a hold rating and set a $16.00 target price on shares of Infosys Limited in a research report on Sunday, September 3rd. Deutsche Bank AG upgraded shares of Infosys Limited from a hold rating to a buy rating in a research report on Monday, August 28th. Finally, Cantor Fitzgerald reiterated a hold rating on shares of Infosys Limited in a research report on Friday, August 25th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. Infosys Limited has an average rating of Hold and an average price target of $15.34.
Infosys Limited (NYSE:INFY) traded down 0.717% on Tuesday, hitting $14.535. 685,494 shares of the company were exchanged. The firm has a market cap of $33.22 billion, a price-to-earnings ratio of 15.316 and a beta of 0.79. Infosys Limited has a one year low of $13.42 and a one year high of $16.71. The stock has a 50 day moving average price of $15.09 and a 200 day moving average price of $15.16.
Infosys Limited (NYSE:INFY) last announced its earnings results on Friday, July 14th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.01. Infosys Limited had a net margin of 20.95% and a return on equity of 21.37%. The company had revenue of $170.78 billion for the quarter, compared to analyst estimates of $170.51 billion. During the same period in the prior year, the business earned $0.22 earnings per share. Infosys Limited’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities research analysts forecast that Infosys Limited will post $0.99 EPS for the current fiscal year.
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A number of large investors have recently modified their holdings of INFY. Kernodle & Katon Asset Management Group LLC bought a new stake in Infosys Limited in the first quarter valued at approximately $100,000. PNC Financial Services Group Inc. increased its stake in Infosys Limited by 82.0% in the first quarter. PNC Financial Services Group Inc. now owns 7,547 shares of the technology company’s stock valued at $120,000 after purchasing an additional 3,400 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Infosys Limited by 198.2% in the second quarter. Tower Research Capital LLC TRC now owns 7,967 shares of the technology company’s stock valued at $120,000 after purchasing an additional 5,295 shares in the last quarter. Equity Investment Corp Acquisition Inc bought a new stake in Infosys Limited in the second quarter valued at approximately $151,000. Finally, Personal Capital Advisors Corp bought a new stake in Infosys Limited in the second quarter valued at approximately $166,000. 19.86% of the stock is owned by hedge funds and other institutional investors.
Infosys Limited 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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