StockNews.com Upgrades Infosys (NYSE:INFY) to “Buy”

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

A number of other equities research analysts also recently commented on the company. Guggenheim reiterated a “neutral” rating on shares of Infosys in a research report on Friday, January 17th. Hsbc Global Res raised Infosys from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. BMO Capital Markets increased their target price on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. HSBC upgraded shares of Infosys from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Finally, Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.22.

Infosys Price Performance

Shares of NYSE:INFY traded up $0.47 during trading on Wednesday, hitting $21.62. 9,310,696 shares of the company’s stock were exchanged, compared to its average volume of 10,188,776. The business’s 50-day simple moving average is $22.49 and its 200 day simple moving average is $22.23. The company has a market cap of $89.53 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 3.47 and a beta of 1.00. Infosys has a 52-week low of $16.04 and a 52-week high of $23.63.

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

Institutional Trading of Infosys

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. increased its stake in Infosys by 68.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock worth $542,051,000 after buying an additional 9,923,744 shares during the period. Fisher Asset Management LLC grew its stake in Infosys by 9.7% in the 3rd quarter. Fisher Asset Management LLC now owns 14,415,018 shares of the technology company’s stock worth $321,022,000 after acquiring an additional 1,271,890 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Infosys by 2.9% during the third quarter. Franklin Resources Inc. now owns 11,272,051 shares of the technology company’s stock worth $263,315,000 after acquiring an additional 322,648 shares during the period. Millennium Management LLC raised its stake in shares of Infosys by 67.9% during the second quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock valued at $141,532,000 after acquiring an additional 3,074,432 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Infosys by 5.1% in the third quarter. BNP Paribas Financial Markets now owns 6,072,537 shares of the technology company’s stock valued at $135,235,000 after purchasing an additional 297,183 shares during the period. 16.20% of the stock is owned by hedge funds and other institutional investors.

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.