Infosys (NYSE:INFY) Downgraded to Hold at StockNews.com

Infosys (NYSE:INFY) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

INFY has been the topic of a number of other research reports. Guggenheim initiated coverage on Infosys in a research note on Tuesday. They issued a “neutral” rating and a $20.00 target price on the stock. BNP Paribas initiated coverage on Infosys in a research note on Wednesday, January 17th. They issued an “outperform” rating and a $24.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $22.00 target price on shares of Infosys in a research note on Wednesday, March 13th. HSBC lowered Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. Finally, UBS Group upgraded Infosys from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 3rd. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.76.

Infosys Stock Down 1.7 %

INFY traded down $0.33 during trading on Tuesday, reaching $18.85. The company had a trading volume of 9,561,046 shares, compared to its average volume of 8,044,114. The stock has a market cap of $78.00 billion, a P/E ratio of 26.54, a PEG ratio of 2.72 and a beta of 0.95. The business has a 50 day simple moving average of $19.81 and a 200-day simple moving average of $18.34. Infosys has a 52 week low of $14.71 and a 52 week high of $20.74.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, January 11th. The technology company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.58 billion. Infosys had a return on equity of 31.25% and a net margin of 15.91%. As a group, equities research analysts expect that Infosys will post 0.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Infosys

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in Infosys by 14.4% in the second quarter. JPMorgan Chase & Co. now owns 83,099,498 shares of the technology company’s stock worth $1,335,409,000 after acquiring an additional 10,480,541 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Infosys during the third quarter worth about $158,356,000. Lazard Asset Management LLC lifted its holdings in shares of Infosys by 138.5% during the second quarter. Lazard Asset Management LLC now owns 14,876,013 shares of the technology company’s stock worth $239,056,000 after purchasing an additional 8,638,307 shares during the period. State Street Corp lifted its holdings in shares of Infosys by 34.6% during the first quarter. State Street Corp now owns 19,989,499 shares of the technology company’s stock worth $497,539,000 after purchasing an additional 5,143,124 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Infosys by 294.2% during the second quarter. Franklin Resources Inc. now owns 5,570,314 shares of the technology company’s stock worth $89,515,000 after purchasing an additional 4,157,198 shares during the period. Hedge funds and other institutional investors own 11.39% of the company’s stock.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.