Infosys (NYSE:INFY) Downgraded to Neutral Rating by The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Infosys (NYSE:INFY) from a buy rating to a neutral rating in a report released on Monday, MarketBeat reports. The brokerage currently has $17.90 price target on the technology company’s stock.

INFY has been the topic of a number of other research reports. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, April 15th. Susquehanna upgraded shares of Infosys from a “negative” rating to a “neutral” rating and set a $17.00 target price for the company in a report on Monday, April 14th. Guggenheim restated a “neutral” rating on shares of Infosys in a report on Friday, January 17th. Stifel Nicolaus decreased their price objective on shares of Infosys from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Tuesday, April 15th. Finally, Investec upgraded shares of Infosys from a “sell” rating to a “buy” rating in a research report on Friday. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.48.

Infosys Stock Performance

NYSE:INFY opened at $16.62 on Monday. Infosys has a one year low of $15.82 and a one year high of $23.63. The business’s 50-day simple moving average is $18.75 and its 200 day simple moving average is $21.04. The stock has a market cap of $68.84 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 3.50 and a beta of 0.97.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, April 17th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Infosys had a return on equity of 31.60% and a net margin of 17.28%. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $420.69 billion. During the same period in the prior year, the company posted $0.23 EPS. On average, equities research analysts predict that Infosys will post 0.74 EPS for the current year.

Institutional Investors Weigh In On Infosys

Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisory Resource Group grew its position in Infosys by 16.3% in the 1st quarter. Advisory Resource Group now owns 58,829 shares of the technology company’s stock worth $1,074,000 after purchasing an additional 8,244 shares during the last quarter. Trivant Custom Portfolio Group LLC bought a new stake in shares of Infosys in the first quarter valued at about $936,000. Matthews International Capital Management LLC grew its position in Infosys by 30.0% during the first quarter. Matthews International Capital Management LLC now owns 346,180 shares of the technology company’s stock worth $6,318,000 after buying an additional 79,910 shares in the last quarter. Rakuten Securities Inc. increased its stake in Infosys by 308.4% during the first quarter. Rakuten Securities Inc. now owns 1,413 shares of the technology company’s stock valued at $26,000 after acquiring an additional 1,067 shares during the period. Finally, Bank Pictet & Cie Europe AG boosted its holdings in Infosys by 48.8% during the first quarter. Bank Pictet & Cie Europe AG now owns 26,566 shares of the technology company’s stock valued at $485,000 after purchasing an additional 8,716 shares in the last quarter. Institutional investors and hedge funds own 16.20% of the company’s stock.

Infosys Company Profile

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.