HSBC Reiterates “Hold” Rating for Infosys (NYSE:INFY)

HSBC reissued their hold rating on shares of Infosys (NYSE:INFY) in a report published on Friday morning, Benzinga reports. They currently have a $20.10 price objective on the technology company’s stock.

Several other research firms have also commented on INFY. JPMorgan Chase & Co. raised shares of Infosys from a neutral rating to an overweight rating in a report on Wednesday, January 3rd. StockNews.com cut shares of Infosys from a buy rating to a hold rating in a research report on Tuesday, March 19th. BNP Paribas began coverage on shares of Infosys in a research report on Wednesday, January 17th. They issued an outperform rating and a $24.00 target price for the company. Guggenheim began coverage on shares of Infosys in a research report on Tuesday, March 19th. They issued a neutral rating and a $20.00 target price for the company. Finally, Wedbush restated an outperform rating and issued a $22.00 target price on shares of Infosys in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $19.27.

Infosys Stock Performance

NYSE INFY opened at $16.81 on Friday. Infosys has a one year low of $14.71 and a one year high of $20.74. The company has a 50-day simple moving average of $18.80 and a 200-day simple moving average of $18.34. The firm has a market capitalization of $69.58 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 2.18 and a beta of 0.93.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. Infosys had a net margin of 17.06% and a return on equity of 33.26%. The business had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.49 billion. During the same period in the previous year, the business posted $0.18 EPS. Equities analysts forecast that Infosys will post 0.76 earnings per share for the current year.

Institutional Trading of Infosys

Institutional investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas acquired a new stake in shares of Infosys in the 3rd quarter worth approximately $5,047,000. Vanguard Group Inc. lifted its stake in Infosys by 2.3% during the third quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock valued at $139,327,000 after purchasing an additional 180,888 shares during the last quarter. Rhumbline Advisers lifted its stake in Infosys by 3.0% during the third quarter. Rhumbline Advisers now owns 908,911 shares of the technology company’s stock valued at $15,551,000 after purchasing an additional 26,833 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Infosys by 3.3% during the fourth quarter. Baillie Gifford & Co. now owns 3,190,513 shares of the technology company’s stock valued at $58,642,000 after purchasing an additional 102,273 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Infosys by 39.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,744,741 shares of the technology company’s stock valued at $32,068,000 after purchasing an additional 491,350 shares during the last quarter. 10.89% of the stock is owned by institutional investors and hedge funds.

About Infosys

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.