Infosys (NYSE:INFY) Cut to “Hold” at CLSA

CLSA lowered shares of Infosys (NYSE:INFY) from an outperform rating to a hold rating in a report issued on Wednesday, MarketBeat.com reports.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $10.90 price objective (down from $12.70) on shares of Infosys in a report on Friday, July 24th. HSBC set a $11.47 price objective on Infosys and gave the stock a “hold” rating in a research note on Friday, July 24th. BMO Capital Markets reissued a “market perform” rating and set a $12.00 target price (down from $13.00) on shares of Infosys in a report on Friday, July 24th. Susquehanna decreased their target price on Infosys from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, July 24th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $9.00 price target (down from $10.00) on shares of Infosys in a research note on Friday, July 24th. Nine equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $11.63.

Infosys Stock Performance

NYSE:INFY opened at $11.98 on Wednesday. The stock has a market capitalization of $48.48 billion, a PE ratio of 14.79, a P/E/G ratio of 2.76 and a beta of 0.88. Infosys has a fifty-two week low of $10.30 and a fifty-two week high of $30.00. The company has a fifty day moving average of $11.52 and a two-hundred day moving average of $12.87.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, July 23rd. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). The company had revenue of $4.99 billion during the quarter, compared to analyst estimates of $5.08 billion. Infosys had a net margin of 16.38% and a return on equity of 33.91%. Research analysts forecast that Infosys will post 0.81 earnings per share for the current year.

Institutional Trading of Infosys

Large investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its stake in Infosys by 7.4% in the 1st quarter. Bank of America Corp DE now owns 6,790,666 shares of the technology company’s stock worth $91,742,000 after purchasing an additional 469,843 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Infosys by 17.0% in the first quarter. Lazard Asset Management LLC now owns 26,776,494 shares of the technology company’s stock valued at $361,750,000 after purchasing an additional 3,893,801 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Infosys by 8.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,490,358 shares of the technology company’s stock valued at $87,685,000 after purchasing an additional 521,169 shares in the last quarter. Weiss Asset Management LP acquired a new stake in shares of Infosys in the first quarter valued at approximately $10,708,000. Finally, Royal Bank of Canada increased its holdings in shares of Infosys by 31.9% in the first quarter. Royal Bank of Canada now owns 1,156,539 shares of the technology company’s stock valued at $15,625,000 after purchasing an additional 279,954 shares during the last quarter. Hedge funds and other institutional investors own 16.20% of the company’s stock.

About Infosys

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.