Infosys (NYSE:INFY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, December 26th. The brokerage presently has a $18.00 price target on the technology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 7.08% from the company’s current price.
According to Zacks, “Infosys has a solid earnings surprise history, having beaten estimates thrice in the trailing four quarters. Its results are benefiting from diligent operational execution. The company’s Renew New strategy has helped reap multiple benefits, including renewing traditional services, winning deals, introducing services and monetizing from key initiatives. The company’s 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. In addition, the company’s solid financial health adds to its strength. Its new offerings under its business platforms like Edge, Panaya and Skava are also helping it gain new clients. However, Infosys has faced business disruption in the recent past due to a high-profile CEO’s exit and a possible securities fraud charge.”
A number of other research firms have also commented on INFY. Bank of America raised shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 5th. Deutsche Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Monday, August 28th. Stifel Nicolaus reissued a “hold” rating on shares of Infosys in a research report on Thursday, October 26th. Robert W. Baird restated a “hold” rating and issued a $16.00 price objective on shares of Infosys in a research note on Sunday, September 3rd. Finally, Oppenheimer restated a “hold” rating on shares of Infosys in a research note on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. Infosys has an average rating of “Hold” and an average target price of $15.34.
Infosys (INFY) opened at $16.81 on Tuesday. The firm has a market cap of $35,770.00, a P/E ratio of 16.81, a P/E/G ratio of 1.97 and a beta of 0.73. Infosys has a 52-week low of $13.42 and a 52-week high of $17.37.
Infosys (NYSE:INFY) last issued its quarterly earnings data on Friday, January 12th. The technology company reported $0.25 earnings per share for the quarter, meeting the consensus estimate of $0.25. Infosys had a net margin of 21.04% and a return on equity of 21.05%. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter last year, the firm earned $0.24 earnings per share. equities analysts predict that Infosys will post 0.99 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in Infosys by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,511,257 shares of the technology company’s stock worth $82,747,000 after buying an additional 17,578 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Infosys by 67.8% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 424,295 shares of the technology company’s stock worth $6,373,000 after buying an additional 171,509 shares in the last quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. acquired a new stake in Infosys during the third quarter worth $293,000. Yacktman Asset Management LP boosted its stake in shares of Infosys by 56.8% in the 3rd quarter. Yacktman Asset Management LP now owns 6,031,017 shares of the technology company’s stock valued at $87,993,000 after purchasing an additional 2,184,646 shares in the last quarter. Finally, Oldfield Partners LLP boosted its stake in shares of Infosys by 5.6% in the 3rd quarter. Oldfield Partners LLP now owns 3,107,302 shares of the technology company’s stock valued at $45,336,000 after purchasing an additional 165,800 shares in the last quarter. Hedge funds and other institutional investors own 18.85% of the company’s stock.
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Infosys 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.
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