StockNews.com Downgrades Infosys (NYSE:INFY) to Hold

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

Other equities analysts have also issued reports about the company. Investec lowered Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. BMO Capital Markets upped their price target on shares of Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Hsbc Global Res upgraded shares of Infosys from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. HSBC raised shares of Infosys from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Finally, Erste Group Bank raised Infosys from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.85.

Infosys Price Performance

INFY traded up $0.01 during mid-day trading on Friday, hitting $22.63. The stock had a trading volume of 3,810,692 shares, compared to its average volume of 5,183,446. The stock’s fifty day simple moving average is $22.28 and its 200-day simple moving average is $21.84. The firm has a market capitalization of $93.73 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 3.77 and a beta of 1.00. Infosys has a 1-year low of $16.04 and a 1-year high of $23.63.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. Infosys had a return on equity of 31.43% and a net margin of 17.15%. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter last year, the business posted $0.18 EPS. As a group, research analysts expect that Infosys will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Infosys

Several large investors have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. lifted its stake in Infosys by 68.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock valued at $542,051,000 after purchasing an additional 9,923,744 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Infosys by 37.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock worth $401,826,000 after acquiring an additional 5,862,144 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Infosys by 9.7% during the 3rd quarter. Fisher Asset Management LLC now owns 14,415,018 shares of the technology company’s stock worth $321,022,000 after acquiring an additional 1,271,890 shares during the last quarter. Franklin Resources Inc. raised its stake in Infosys by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 11,272,051 shares of the technology company’s stock valued at $263,315,000 after acquiring an additional 322,648 shares during the period. Finally, Millennium Management LLC lifted its holdings in Infosys by 67.9% during the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock valued at $141,532,000 after purchasing an additional 3,074,432 shares during the last quarter. Institutional investors and hedge funds 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.