Infosys Limited’s (INFY) “Hold” Rating Reaffirmed at Cantor Fitzgerald
“Foresi’s Take. The drama at Infosys continued this week with further board resignations. It is too early to tell what was the overriding confounding factor performance, corporate governance, or outside political pressure. The new/old management is working to put together a strategy and find a new CEO.”,” Cantor Fitzgerald’s analyst wrote.
Several other research analysts also recently issued reports on the company. HSBC Holdings plc raised Infosys Limited from a hold rating to a buy rating in a research note on Thursday, June 8th. Zacks Investment Research downgraded Infosys Limited from a hold rating to a sell rating in a research note on Monday, May 15th. BidaskClub raised Infosys Limited from a hold rating to a buy rating in a research note on Wednesday, July 12th. UBS AG downgraded Infosys Limited from a buy rating to a hold rating in a research note on Friday, August 18th. Finally, Cowen and Company set a $15.00 price target on Infosys Limited and gave the stock a hold rating in a research note on Friday, August 18th. Three investment 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. The stock currently has an average rating of Hold and an average price target of $16.25.
Shares of Infosys Limited (INFY) opened at 15.31 on Friday. Infosys Limited has a 12 month low of $13.42 and a 12 month high of $16.71. The company has a market capitalization of $34.99 billion, a P/E ratio of 16.13 and a beta of 0.79. The stock’s 50 day moving average is $15.46 and its 200 day moving average is $15.17.
Infosys Limited (NYSE:INFY) last issued its earnings results on Friday, July 14th. The technology company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $170.78 billion for the quarter, compared to analyst estimates of $170.51 billion. Infosys Limited had a net margin of 20.95% and a return on equity of 21.37%. The business’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 EPS. On average, equities analysts predict that Infosys Limited will post $0.99 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Comgest Global Investors S.A.S. increased its position in shares of Infosys Limited by 1.4% in the second 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 during the last quarter. Nordea Investment Management AB increased its position in shares of Infosys Limited by 0.6% in the second 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 during the last quarter. Harris Associates L P increased its position in shares of Infosys Limited by 105.6% in the first quarter. Harris Associates L P now owns 26,313,050 shares of the technology company’s stock valued at $415,746,000 after buying an additional 13,512,800 shares during the last quarter. Genesis Asset Managers LLP increased its position in shares of Infosys Limited by 15.6% in the second quarter. Genesis Asset Managers LLP now owns 15,885,726 shares of the technology company’s stock valued at $238,604,000 after buying an additional 2,145,698 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Infosys Limited by 1.7% in the first quarter. AQR Capital Management LLC now owns 14,228,590 shares of the technology company’s stock valued at $224,812,000 after buying an additional 231,710 shares during the last quarter. 19.86% of the stock is owned by hedge funds and other 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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