Infosys (NYSE:INFY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, December 26th. The firm currently has a $18.00 target price on the technology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 4.23% from the stock’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 equities research analysts have also recently weighed in on INFY. BidaskClub cut shares of Infosys from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 4th. Robert W. Baird reaffirmed a “hold” rating and set a $16.00 target price on shares of Infosys in a research note on Wednesday, October 4th. Goldman Sachs Group raised Infosys from a “sell” rating to a “neutral” rating and lifted their target price for the company from $12.40 to $12.88 in a research note on Sunday, September 17th. Deutsche Bank upgraded Infosys from a “hold” rating to a “buy” rating in a report on Monday, August 28th. Finally, Cowen restated a “hold” rating and issued a $15.00 target price on shares of Infosys in a report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $15.34.
Infosys (NYSE:INFY) last posted its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Infosys had a net margin of 21.04% and a return on equity of 21.05%. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the firm posted $0.24 earnings per share. research analysts anticipate that Infosys will post 0.99 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of INFY. Tower Research Capital LLC TRC lifted its stake in Infosys by 198.2% in the second quarter. Tower Research Capital LLC TRC now owns 7,967 shares of the technology company’s stock valued at $120,000 after buying an additional 5,295 shares during the period. Foster & Motley Inc. acquired a new position in Infosys in the third quarter valued at about $166,000. Northwestern Mutual Wealth Management Co. lifted its stake in Infosys by 4.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 13,365 shares of the technology company’s stock valued at $201,000 after buying an additional 605 shares during the period. High Pointe Capital Management LLC acquired a new position in Infosys in the third quarter valued at about $203,000. Finally, Equity Investment Corp lifted its stake in Infosys by 50.2% in the third quarter. Equity Investment Corp now owns 15,100 shares of the technology company’s stock valued at $220,000 after buying an additional 5,050 shares during the period. 18.85% of the stock is currently owned by institutional investors and hedge funds.
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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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