Infosys’ (INFY) “Hold” Rating Reaffirmed at HSBC

HSBC reissued their hold rating on shares of Infosys (NYSE:INFY) in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a $20.10 target price on the technology company’s stock.

A number of other research analysts also recently issued reports on INFY. Guggenheim began coverage on Infosys in a report on Tuesday, March 19th. They set a neutral rating and a $20.00 price objective for the company. BNP Paribas initiated coverage on Infosys in a research report on Wednesday, January 17th. They set an outperform rating and a $24.00 price target for the company. UBS Group raised Infosys from a neutral rating to a buy rating in a research report on Wednesday, January 3rd. StockNews.com cut Infosys from a buy rating to a hold rating in a research report on Tuesday, March 19th. Finally, Bank of America raised Infosys from a neutral rating to a buy rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $19.27.

Infosys Trading Up 2.9 %

NYSE:INFY opened at $17.30 on Friday. Infosys has a 1-year low of $14.71 and a 1-year high of $20.74. The business’s 50-day moving average price is $18.74 and its two-hundred day moving average price is $18.35. The firm has a market capitalization of $71.61 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 2.21 and a beta of 0.93.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. Infosys had a return on equity of 32.33% and a net margin of 17.06%. The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same period in the prior year, the company earned $0.18 earnings per share. Sell-side analysts predict that Infosys will post 0.76 earnings per share for the current year.

Institutional Investors Weigh In On Infosys

Institutional investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas bought a new stake in shares of Infosys in the 3rd quarter valued at about $5,047,000. Vanguard Group Inc. grew its position in shares of Infosys by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock valued at $139,327,000 after buying an additional 180,888 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Infosys by 3.0% during the 3rd quarter. Rhumbline Advisers now owns 908,911 shares of the technology company’s stock valued at $15,551,000 after purchasing an additional 26,833 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of Infosys by 3.3% during the 4th quarter. Baillie Gifford & Co. now owns 3,190,513 shares of the technology company’s stock valued at $58,642,000 after purchasing an additional 102,273 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Infosys by 39.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,744,741 shares of the technology company’s stock valued at $32,068,000 after purchasing an additional 491,350 shares in the last quarter. Institutional investors own 10.89% of the company’s stock.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.