Infosys (INFY) Cut to “Hold” at HSBC

Infosys (NYSE:INFY) was downgraded by equities researchers at HSBC from a “buy” rating to a “hold” rating in a research report issued on Tuesday, April 2nd, The Fly reports.

INFY has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Infosys from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Tuesday, March 19th. ValuEngine upgraded shares of Infosys from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $10.00 price target on shares of Infosys in a research note on Friday, January 11th. Nomura raised shares of Infosys from a “reduce” rating to a “neutral” rating in a research note on Monday, January 14th. Finally, Wells Fargo & Co set a $11.00 target price on shares of Infosys and gave the stock a “hold” rating in a research report on Friday, January 11th. Two equities research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company’s stock. Infosys presently has an average rating of “Hold” and a consensus price target of $11.26.

Shares of INFY traded up $0.13 during mid-day trading on Tuesday, hitting $10.65. 5,098,800 shares of the company’s stock were exchanged, compared to its average volume of 9,477,446. Infosys has a 52 week low of $8.61 and a 52 week high of $11.38. The stock has a market capitalization of $45.98 billion, a PE ratio of 19.72, a P/E/G ratio of 2.02 and a beta of 0.54.

Infosys (NYSE:INFY) last announced its quarterly earnings data on Friday, April 12th. The technology company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. Infosys had a net margin of 18.62% and a return on equity of 25.41%. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period last year, the firm posted $0.13 earnings per share. As a group, sell-side analysts forecast that Infosys will post 0.55 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in INFY. Nkcfo LLC purchased a new stake in Infosys during the 4th quarter valued at $25,000. Next Capital Management LLC bought a new stake in Infosys in the first quarter worth $26,000. Financial Gravity Wealth Inc. bought a new position in Infosys during the first quarter valued at $27,000. We Are One Seven LLC bought a new position in shares of Infosys in the fourth quarter worth about $28,000. Finally, Advisory Services Network LLC lifted its stake in Infosys by 303.8% in the fourth quarter. Advisory Services Network LLC now owns 4,228 shares of the technology company’s stock worth $40,000 after acquiring an additional 3,181 shares during the period. 17.81% of the stock is currently owned by institutional investors.

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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