Infosys (INFY) Upgraded at ValuEngine

Infosys (NYSE:INFY) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Tuesday, October 2nd.

A number of other analysts have also recently issued reports on the company. Morgan Stanley cut Infosys from an “overweight” rating to a “hold” rating in a research report on Monday, August 20th. Robert W. Baird lifted their price target on Infosys from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, September 14th. Cowen lifted their price target on Infosys from $16.00 to $17.00 and gave the stock a “market perform” rating in a report on Monday, July 16th. Deutsche Bank began coverage on Infosys in a report on Thursday, July 12th. They set a “buy” rating for the company. Finally, Cantor Fitzgerald lifted their price objective on Infosys from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, July 16th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. Infosys has a consensus rating of “Hold” and an average target price of $16.66.

INFY stock opened at $10.03 on Tuesday. The company has a market capitalization of $44.20 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 1.94 and a beta of 0.41. Infosys has a twelve month low of $7.07 and a twelve month high of $10.65.

Infosys (NYSE:INFY) last released its quarterly earnings data on Friday, July 13th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. Infosys had a return on equity of 23.22% and a net margin of 22.30%. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.87 billion. On average, equities research analysts predict that Infosys will post 0.53 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of INFY. Northern Trust Corp increased its stake in shares of Infosys by 1.9% in the 1st quarter. Northern Trust Corp now owns 3,425,188 shares of the technology company’s stock valued at $61,140,000 after purchasing an additional 64,076 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Infosys by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,563,239 shares of the technology company’s stock worth $99,304,000 after acquiring an additional 26,294 shares during the last quarter. Stifel Financial Corp grew its position in Infosys by 15.3% during the 1st quarter. Stifel Financial Corp now owns 142,794 shares of the technology company’s stock worth $2,548,000 after acquiring an additional 18,992 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Infosys by 4.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 106,400 shares of the technology company’s stock worth $1,899,000 after acquiring an additional 4,700 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in Infosys during the 1st quarter worth $1,454,000. Institutional investors own 8.78% of the company’s stock.

About Infosys

Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.

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