StockNews.com Begins Coverage on Infosys (NYSE:INFY)

StockNews.com started coverage on shares of Infosys (NYSE:INFY – Get Rating) in a research note published on Thursday morning. The brokerage issued a hold rating on the technology company’s stock.

A number of other equities analysts have also weighed in on INFY. BMO Capital Markets boosted their price objective on shares of Infosys from $20.00 to $21.00 and gave the company a market perform rating in a research report on Friday, January 13th. Wedbush dropped their price target on shares of Infosys from $25.00 to $22.00 and set an outperform rating for the company in a research report on Monday, March 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Infosys presently has a consensus rating of Hold and a consensus price target of $20.29.

Infosys Price Performance

Shares of NYSE:INFY opened at $16.89 on Thursday. The firm has a market capitalization of $70.70 billion, a P/E ratio of 23.79, a P/E/G ratio of 2.39 and a beta of 1.00. Infosys has a 12 month low of $16.39 and a 12 month high of $25.20. The company’s fifty day moving average price is $18.49 and its 200 day moving average price is $18.40.

Infosys (NYSE:INFY – Get Rating) last posted its quarterly earnings data on Thursday, January 12th. The technology company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.66 billion. Infosys had a net margin of 16.66% and a return on equity of 31.23%. During the same quarter in the previous year, the business posted $0.18 earnings per share. On average, sell-side analysts anticipate that Infosys will post 0.72 EPS for the current year.

Institutional Trading of Infosys

A number of large investors have recently modified their holdings of the company. FMR LLC increased its holdings in shares of Infosys by 20.3% in the 2nd quarter. FMR LLC now owns 29,344,087 shares of the technology company’s stock worth $543,159,000 after acquiring an additional 4,956,478 shares during the period. First Trust Advisors LP boosted its holdings in shares of Infosys by 69.4% in the third quarter. First Trust Advisors LP now owns 23,292,667 shares of the technology company’s stock worth $395,276,000 after buying an additional 9,539,373 shares during the period. State Street Corp boosted its holdings in shares of Infosys by 3.7% in the second quarter. State Street Corp now owns 20,720,955 shares of the technology company’s stock worth $383,545,000 after buying an additional 731,456 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Infosys by 17.3% during the third quarter. Fisher Asset Management LLC now owns 16,969,677 shares of the technology company’s stock worth $287,975,000 after purchasing an additional 2,504,660 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of Infosys by 21.6% during the third quarter. BlackRock Inc. now owns 16,604,648 shares of the technology company’s stock worth $281,780,000 after purchasing an additional 2,944,245 shares during the period. Institutional investors and hedge funds own 12.68% of the company’s stock.

About Infosys

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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.