Infosys Limited (INFY) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Infosys Limited (NYSE:INFY) from a hold rating to a buy rating in a research note released on Tuesday morning. The brokerage currently has $17.00 price objective on the technology company’s stock.

According to Zacks, “Infosys’ Renew New strategy has helped reap multiple benefits, including renewing traditional services, winning deals, introducing services and monetizing from key initiatives. Infosys’ new offerings under its business platforms including Edge, Panaya and Skava are helping it gain new clients. Infosys’ services and software are also proving conducive to top-line growth. The growth in the higher margin business is proving conducive to the margin expansion. The company remains confident that growth is likely to pick up in the second half of the fiscal year as regulatory norms relax and the impact of high interest rates eases. However, Infosys’ shares have underperformed the Zacks categorized IT Services industry average over the past six months. U.S. President-elect Donald Trump’s anti-immigration stance, rising costs and on-site expansion pose as major headwinds.”

A number of other brokerages have also weighed in on INFY. Cantor Fitzgerald reaffirmed a hold rating on shares of Infosys Limited in a research note on Friday, August 25th. Robert W. Baird reaffirmed a hold rating and set a $16.00 target price on shares of Infosys Limited in a research note on Sunday, September 3rd. Goldman Sachs Group, Inc. (The) reaffirmed a sell rating on shares of Infosys Limited in a research note on Friday, June 9th. Deutsche Bank AG raised shares of Infosys Limited from a hold rating to a buy rating in a research note on Monday, August 28th. Finally, Cowen and Company set a $15.00 target price on shares of Infosys Limited and gave the company a hold rating in a research note on Friday, August 18th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. Infosys Limited has an average rating of Hold and a consensus price target of $15.34.

Infosys Limited (NYSE INFY) opened at 14.59 on Tuesday. Infosys Limited has a 52-week low of $13.42 and a 52-week high of $16.71. The stock’s 50 day moving average is $15.09 and its 200-day moving average is $15.16. The company has a market cap of $33.35 billion, a PE ratio of 15.37 and a beta of 0.79.

Infosys Limited (NYSE:INFY) last released its quarterly earnings data on Friday, July 14th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Infosys Limited had a net margin of 20.95% and a return on equity of 21.37%. The firm had revenue of $170.78 billion for the quarter, compared to analysts’ expectations of $170.51 billion. During the same quarter in the previous year, the company earned $0.22 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts predict that Infosys Limited will post $0.98 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Infosys Limited (INFY) Lifted to “Buy” at Zacks Investment Research” was posted by BBNS and is owned by of BBNS. If you are viewing this report on another site, it was illegally copied and republished in violation of United States and international copyright & trademark legislation. The correct version of this report can be read at https://baseballnewssource.com/markets/infosys-limited-infy-lifted-to-buy-at-zacks-investment-research/1662115.html.

Large investors have recently bought and sold shares of the stock. Comgest Global Investors S.A.S. raised its holdings in 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 worth $499,385,000 after buying an additional 465,600 shares during the last quarter. Nordea Investment Management AB raised its holdings in 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 worth $496,293,000 after buying an additional 188,589 shares during the last quarter. Genesis Asset Managers LLP raised its holdings in 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 worth $238,604,000 after buying an additional 2,145,698 shares during the last quarter. AQR Capital Management LLC raised its holdings in 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 worth $224,812,000 after buying an additional 231,710 shares during the last quarter. Finally, Seafarer Capital Partners LLC raised its holdings in Infosys Limited by 29.1% in the second quarter. Seafarer Capital Partners LLC now owns 9,655,000 shares of the technology company’s stock worth $145,018,000 after buying an additional 2,177,500 shares during the last quarter. 19.86% of the stock is currently owned by institutional investors and hedge funds.

Infosys Limited Company Profile

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.

Get a free copy of the Zacks research report on Infosys Limited (INFY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Infosys Limited (NYSE:INFY)

Receive News & Ratings for Infosys Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infosys Limited and related companies with our FREE daily email newsletter.

 


Latest News

Bryce Harper Hoping to Return Monday from Knee Injury
Bryce Harper Hoping to Return Monday from Knee Injury
American League Once Again Dominates National League
American League Once Again Dominates National League
Los Angeles Dodgers Waiting But Magic Number Down to One
Los Angeles Dodgers Waiting But Magic Number Down to One
Young Girl Hit by Foul Ball Rushed to Hospital
Young Girl Hit by Foul Ball Rushed to Hospital
New Home Run Record Reached in Major League Baseball
New Home Run Record Reached in Major League Baseball
Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?


Leave a Reply

 
© 2006-2017 BBNS.