Infosys (NYSE:INFY) Raised to Buy at StockNews.com

Infosys (NYSE:INFY) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Several other analysts also recently weighed in on the company. Stifel Nicolaus decreased their target price on Infosys from $18.00 to $17.00 and set a “hold” rating for the company in a research report on Monday, April 21st. Guggenheim reiterated a “neutral” rating on shares of Infosys in a research report on Friday, January 17th. Susquehanna upgraded Infosys from a “negative” rating to a “neutral” rating and set a $17.00 target price for the company in a research report on Monday, April 14th. CLSA upgraded Infosys from a “hold” rating to an “outperform” rating in a research report on Friday, March 7th. Finally, Investec upgraded Infosys from a “sell” rating to a “buy” rating in a research report on Friday, April 18th. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.48.

Infosys Stock Performance

NYSE INFY opened at $18.30 on Friday. The company has a market capitalization of $75.78 billion, a P/E ratio of 23.16, a P/E/G ratio of 3.50 and a beta of 0.98. Infosys has a one year low of $15.82 and a one year high of $23.63. The stock has a 50 day moving average price of $17.70 and a 200-day moving average price of $20.43.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, April 17th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $420.69 billion. Infosys had a return on equity of 31.60% and a net margin of 17.28%. During the same period last year, the company earned $0.23 earnings per share. As a group, equities analysts predict that Infosys will post 0.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Infosys

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in Infosys in the fourth quarter worth about $311,000. Jones Financial Companies Lllp lifted its holdings in shares of Infosys by 15.9% during the fourth quarter. Jones Financial Companies Lllp now owns 7,520 shares of the technology company’s stock worth $165,000 after purchasing an additional 1,030 shares during the period. Fullerton Fund Management Co Ltd. acquired a new stake in shares of Infosys during the fourth quarter worth about $4,465,000. Haven Global Partners LLC acquired a new stake in shares of Infosys during the fourth quarter worth about $4,078,000. Finally, Barclays PLC lifted its holdings in shares of Infosys by 11.8% during the third quarter. Barclays PLC now owns 2,523,605 shares of the technology company’s stock worth $56,200,000 after purchasing an additional 266,902 shares during the period. 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.