StockNews.com Downgrades Infosys (NYSE:INFY) to Hold

Infosys (NYSE:INFY) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

A number of other equities analysts have also issued reports on the stock. Hsbc Global Res upgraded shares of Infosys from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. HSBC raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Guggenheim reissued a “neutral” rating on shares of Infosys in a research report on Friday, January 17th. Finally, CLSA raised shares of Infosys from a “hold” rating to an “outperform” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.22.

Infosys Price Performance

INFY traded down $0.43 during trading on Monday, hitting $19.43. The company had a trading volume of 14,185,185 shares, compared to its average volume of 10,516,610. The company has a market cap of $80.47 billion, a PE ratio of 24.59, a P/E/G ratio of 3.50 and a beta of 1.01. The business has a 50-day moving average of $21.54 and a 200-day moving average of $22.18. Infosys has a 1-year low of $16.04 and a 1-year high of $23.63.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, January 16th. The technology company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. Infosys had a net margin of 17.28% and a return on equity of 31.60%. During the same quarter in the previous year, the business earned $0.18 EPS. Research analysts forecast that Infosys will post 0.74 earnings per share for the current year.

Hedge Funds Weigh In On Infosys

Several institutional investors have recently modified their holdings of INFY. Assetmark Inc. lifted its holdings in shares of Infosys by 37.4% during the 3rd quarter. Assetmark Inc. now owns 25,963 shares of the technology company’s stock valued at $578,000 after purchasing an additional 7,066 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Infosys by 41.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 223,907 shares of the technology company’s stock worth $4,986,000 after purchasing an additional 65,189 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of Infosys by 4.6% during the 3rd quarter. Baillie Gifford & Co. now owns 3,089,058 shares of the technology company’s stock worth $68,793,000 after purchasing an additional 135,911 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Infosys by 6,071.1% during the 3rd quarter. Victory Capital Management Inc. now owns 4,739,830 shares of the technology company’s stock worth $105,556,000 after purchasing an additional 4,663,023 shares in the last quarter. Finally, Empower Advisory Group LLC raised its stake in shares of Infosys by 23.4% during the 3rd quarter. Empower Advisory Group LLC now owns 20,120 shares of the technology company’s stock worth $448,000 after purchasing an additional 3,820 shares in the last quarter. Institutional investors own 16.20% of the company’s stock.

Infosys Company Profile

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.