Infosys (NYSE:INFY) Stock Rating Upgraded by Bank of America

by · The Markets Daily

Bank of America upgraded shares of Infosys (NYSE:INFY – Free Report) from a neutral rating to a buy rating in a report published on Tuesday, MarketBeat.com reports.

Several other equities research analysts have also weighed in on the company. Wedbush restated an outperform rating and set a $22.00 price target on shares of Infosys in a research report on Wednesday, March 13th. StockNews.com cut Infosys from a buy rating to a hold rating in a research note on Tuesday, March 19th. Guggenheim assumed coverage on Infosys in a research note on Tuesday, March 19th. They set a neutral rating and a $20.00 price objective for the company. UBS Group upgraded Infosys from a neutral rating to a buy rating in a research note on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. upgraded Infosys from a neutral rating to an overweight rating in a research note on Wednesday, January 3rd. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $20.76.

Get Our Latest Stock Analysis on INFY

Infosys Stock Down 1.1 %

NYSE INFY opened at $17.74 on Tuesday. Infosys has a twelve month low of $14.71 and a twelve month high of $20.74. The firm has a market capitalization of $73.41 billion, a PE ratio of 24.98, a P/E/G ratio of 2.38 and a beta of 0.93. The stock’s 50 day moving average is $19.14 and its 200 day moving average is $18.34.

Infosys (NYSE:INFY – Get Free Report) last released its quarterly earnings results on Thursday, January 11th. The technology company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. Infosys had a return on equity of 31.25% and a net margin of 15.91%. The company had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.58 billion. On average, research analysts anticipate that Infosys will post 0.7 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of INFY. Raymond James Financial Services Advisors Inc. raised its stake in shares of Infosys by 4.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 16,735 shares of the technology company’s stock worth $417,000 after purchasing an additional 652 shares during the last quarter. Cibc World Market Inc. increased its position in Infosys by 39.8% during the first quarter. Cibc World Market Inc. now owns 157,264 shares of the technology company’s stock valued at $3,914,000 after acquiring an additional 44,768 shares during the last quarter. Blair William & Co. IL purchased a new stake in Infosys during the first quarter valued at $465,000. Canada Pension Plan Investment Board increased its position in Infosys by 108.3% during the first quarter. Canada Pension Plan Investment Board now owns 1,017,100 shares of the technology company’s stock valued at $25,315,000 after acquiring an additional 528,900 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in Infosys by 1.6% during the first quarter. Allianz Asset Management GmbH now owns 1,051,193 shares of the technology company’s stock valued at $26,164,000 after acquiring an additional 16,102 shares during the last quarter. Hedge funds and other institutional investors own 10.89% of the company’s stock.

About Infosys

(Get Free Report)

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.

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