Infosys (NYSE:INFY) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Infosys (NYSE:INFY – Get Rating) in a research report issued to clients and investors on Thursday. The brokerage set a “hold” rating on the technology company’s stock.

Several other equities research analysts also recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Infosys from $20.00 to $21.00 and gave the stock a “market perform” rating in a research note on Friday, January 13th. Wedbush lowered their price target on shares of Infosys from $25.00 to $22.00 and set an “outperform” rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $20.29.

Infosys Stock Down 2.3 %

Shares of INFY opened at $16.93 on Thursday. Infosys has a fifty-two week low of $16.39 and a fifty-two week high of $25.20. The firm’s 50 day moving average price is $18.52 and its 200 day moving average price is $18.42. The company has a market cap of $70.87 billion, a P/E ratio of 23.85, a PEG ratio of 2.46 and a beta of 1.00.

Infosys (NYSE:INFY – Get Rating) last announced its earnings results on Thursday, January 12th. The technology company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. Infosys had a net margin of 16.66% and a return on equity of 31.23%. The firm had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the prior year, the firm earned $0.18 EPS. Research analysts forecast that Infosys will post 0.72 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. FMR LLC boosted its holdings in shares of Infosys by 20.3% in the 2nd quarter. FMR LLC now owns 29,344,087 shares of the technology company’s stock valued at $543,159,000 after buying an additional 4,956,478 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Infosys by 69.4% in the 3rd quarter. First Trust Advisors LP now owns 23,292,667 shares of the technology company’s stock valued at $395,276,000 after buying an additional 9,539,373 shares in the last quarter. State Street Corp boosted its holdings in shares of Infosys by 3.7% in the 2nd quarter. State Street Corp now owns 20,720,955 shares of the technology company’s stock valued at $383,545,000 after buying an additional 731,456 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Infosys by 17.3% in the 3rd quarter. Fisher Asset Management LLC now owns 16,969,677 shares of the technology company’s stock valued at $287,975,000 after buying an additional 2,504,660 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Infosys by 21.6% in the 3rd quarter. BlackRock Inc. now owns 16,604,648 shares of the technology company’s stock valued at $281,780,000 after buying an additional 2,944,245 shares in the last quarter. Institutional investors and hedge funds own 12.68% of the company’s stock.

Infosys Company Profile

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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.