Infosys (INFY) Lowered to Neutral at Goldman Sachs Group

Goldman Sachs Group downgraded shares of Infosys (NYSE:INFY) from a buy rating to a neutral rating in a research report released on Wednesday, MarketBeat Ratings reports. Goldman Sachs Group currently has $11.00 price target on the technology company’s stock.

A number of other research firms have also commented on INFY. Robert W. Baird raised their price objective on shares of Infosys from $9.00 to $10.00 and gave the company a neutral rating in a research report on Friday, September 14th. ValuEngine lowered shares of Infosys from a hold rating to a sell rating in a research report on Wednesday, September 12th. Cowen raised their price objective on shares of Infosys from $16.00 to $17.00 and gave the company a market perform rating in a research report on Monday, July 16th. Morgan Stanley lowered shares of Infosys from an overweight rating to a hold rating in a research report on Monday, August 20th. Finally, Cantor Fitzgerald raised their price objective on shares of Infosys from $16.00 to $19.00 and gave the company a neutral rating in a research report on Monday, July 16th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $15.26.

Shares of INFY stock traded down $0.36 during trading hours on Wednesday, reaching $9.44. The stock had a trading volume of 496,604 shares, compared to its average volume of 11,745,560. Infosys has a 12 month low of $7.07 and a 12 month high of $10.65. The firm has a market capitalization of $44.20 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 1.94 and a beta of 0.41.

Infosys (NYSE:INFY) last released its quarterly earnings data on Tuesday, October 16th. The technology company reported $0.13 EPS for the quarter, meeting analysts’ consensus estimates of $0.13. Infosys had a net margin of 22.30% and a return on equity of 23.22%. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the business earned $0.13 earnings per share. Analysts anticipate that Infosys will post 0.53 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in INFY. Genesis Asset Managers LLP raised its stake in Infosys by 74.4% in the second quarter. Genesis Asset Managers LLP now owns 9,604,671 shares of the technology company’s stock valued at $186,619,000 after purchasing an additional 4,096,369 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Infosys by 22.6% in the second quarter. Bank of New York Mellon Corp now owns 17,353,458 shares of the technology company’s stock valued at $337,179,000 after purchasing an additional 3,203,387 shares in the last quarter. Aperio Group LLC raised its stake in Infosys by 133.9% in the third quarter. Aperio Group LLC now owns 5,004,543 shares of the technology company’s stock valued at $50,896,000 after purchasing an additional 2,865,033 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in Infosys by 134.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 3,985,536 shares of the technology company’s stock valued at $40,533,000 after purchasing an additional 2,285,566 shares in the last quarter. Finally, Somerset Capital Management LLP purchased a new stake in Infosys in the second quarter valued at approximately $35,786,000. 8.78% of the stock is currently owned by institutional investors and hedge funds.

Infosys Company Profile

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.

Recommended Story: The Discount Rate – What You Need to Know

Analyst Recommendations for Infosys (NYSE:INFY)

Receive News & Ratings for Infosys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infosys and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply