Infosys (INFY) Upgraded to Buy at Bank of America

Infosys (NYSE:INFY) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a research report issued on Tuesday.

A number of other brokerages also recently weighed in on INFY. Zacks Investment Research raised Infosys from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Tuesday, September 19th. Oppenheimer reissued a “hold” rating on shares of Infosys in a report on Tuesday, October 24th. Stifel Nicolaus reissued a “hold” rating on shares of Infosys in a report on Thursday, October 26th. Cowen reissued a “hold” rating and issued a $15.00 price target on shares of Infosys in a report on Thursday, October 12th. Finally, Cantor Fitzgerald reissued a “hold” rating on shares of Infosys in a report on Friday, August 25th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $15.34.

Shares of Infosys (NYSE:INFY) traded up $0.40 during mid-day trading on Tuesday, reaching $15.46. The company had a trading volume of 7,042,900 shares, compared to its average volume of 6,351,154. Infosys has a 12 month low of $13.42 and a 12 month high of $16.15. The company has a market capitalization of $34,422.32, a P/E ratio of 15.53, a P/E/G ratio of 1.64 and a beta of 0.69.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Infosys had a return on equity of 21.05% and a net margin of 21.04%. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter last year, the company earned $0.24 earnings per share. equities analysts anticipate that Infosys will post 0.98 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC acquired a new stake in shares of Infosys during the third quarter worth about $336,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Infosys by 2,099.0% during the third quarter. Cubist Systematic Strategies LLC now owns 239,864 shares of the technology company’s stock worth $3,500,000 after purchasing an additional 228,956 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Infosys by 2.7% during the third quarter. Janus Henderson Group PLC now owns 892,584 shares of the technology company’s stock worth $13,023,000 after purchasing an additional 23,763 shares during the period. Caxton Associates LP acquired a new stake in shares of Infosys during the third quarter worth about $587,000. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Infosys by 60.9% during the third quarter. Allianz Asset Management GmbH now owns 157,747 shares of the technology company’s stock worth $2,301,000 after purchasing an additional 59,688 shares during the period. 18.95% of the stock is owned by hedge funds and other institutional investors.

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Infosys Company Profile

Infosys Limited is engaged in consulting, technology, outsourcing and next-generation services. The Company, along with its subsidiaries, provides business information technology services comprising application development and maintenance, independent validation, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking solution, and offerings in the areas of Analytics, Cloud and Digital Transformation.

Analyst Recommendations for Infosys (NYSE:INFY)

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