Infosys Limited (NYSE:INFY) Given Consensus Recommendation of “Hold” by Brokerages

Infosys Limited (NYSE:INFY) has received an average recommendation of “Hold” from the eleven analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $19.27.

Several research firms have commented on INFY. Guggenheim began coverage on Infosys in a report on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 price target for the company. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. BMO Capital Markets dropped their target price on Infosys from $21.00 to $18.00 and set a “market perform” rating for the company in a report on Friday. Bank of America raised Infosys from a “neutral” rating to a “buy” rating in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. raised Infosys from a “neutral” rating to an “overweight” rating in a report on Wednesday, January 3rd.

Infosys Stock Up 1.8 %

Shares of NYSE:INFY opened at $16.81 on Friday. The business has a 50 day moving average price of $18.80 and a 200 day moving average price of $18.34. Infosys has a twelve month low of $14.71 and a twelve month high of $20.74. The company has a market cap of $69.58 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 2.24 and a beta of 0.93.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. Infosys had a return on equity of 31.25% and a net margin of 15.91%. The firm had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the prior year, the company earned $0.18 EPS. Analysts anticipate that Infosys will post 0.7 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its position in shares of Infosys by 4.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,735 shares of the technology company’s stock worth $417,000 after purchasing an additional 652 shares during the last quarter. Cibc World Market Inc. raised its stake in Infosys by 39.8% during the 1st quarter. Cibc World Market Inc. now owns 157,264 shares of the technology company’s stock worth $3,914,000 after buying an additional 44,768 shares during the period. Blair William & Co. IL acquired a new stake in Infosys during the 1st quarter worth $465,000. Canada Pension Plan Investment Board raised its stake in Infosys by 108.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,017,100 shares of the technology company’s stock worth $25,315,000 after buying an additional 528,900 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in Infosys by 1.6% during the 1st quarter. Allianz Asset Management GmbH now owns 1,051,193 shares of the technology company’s stock worth $26,164,000 after buying an additional 16,102 shares during the period. 10.89% of the stock is currently owned by institutional investors.

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.