Infosys (NYSE:INFY) Cut to Hold at StockNews.com

StockNews.com lowered shares of Infosys (NYSE:INFY) from a buy rating to a hold rating in a report issued on Thursday.

Other equities analysts have also issued research reports about the company. Hsbc Global Res raised Infosys from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Guggenheim restated a “neutral” rating on shares of Infosys in a report on Friday, January 17th. HSBC upgraded Infosys from a “hold” rating to a “buy” rating in a report on Monday, December 9th. Finally, CLSA upgraded Infosys from a “hold” rating to an “outperform” rating in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $19.70.

Infosys Stock Performance

Shares of INFY opened at $18.34 on Thursday. Infosys has a one year low of $16.04 and a one year high of $23.81. The stock has a market capitalization of $75.96 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 3.50 and a beta of 1.01. The stock has a 50 day moving average price of $20.81 and a 200 day moving average price of $21.90.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, January 16th. The technology company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. Infosys had a return on equity of 31.60% and a net margin of 17.28%. During the same quarter in the previous year, the business earned $0.18 earnings per share. On average, analysts predict that Infosys will post 0.74 earnings per share for the current year.

Institutional Trading of Infosys

Several hedge funds have recently modified their holdings of INFY. Fairtree Asset Management Pty Ltd acquired a new position in Infosys during the fourth quarter worth $130,000. Wealth Enhancement Advisory Services LLC raised its holdings in Infosys by 6.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 93,792 shares of the technology company’s stock worth $2,056,000 after purchasing an additional 5,998 shares during the last quarter. Employees Retirement System of Texas raised its holdings in Infosys by 539.1% during the fourth quarter. Employees Retirement System of Texas now owns 78,699 shares of the technology company’s stock worth $1,725,000 after purchasing an additional 66,385 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Infosys by 159.1% during the fourth quarter. Mackenzie Financial Corp now owns 463,502 shares of the technology company’s stock worth $10,160,000 after purchasing an additional 284,599 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in Infosys by 27.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,069,502 shares of the technology company’s stock worth $45,363,000 after purchasing an additional 451,245 shares during the last quarter. 16.20% of the stock is owned by institutional investors and hedge funds.

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.