Infosys (NYSE:INFY) Stock Rating Upgraded by Citigroup

Infosys (NYSE:INFY) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, MarketBeat Ratings reports.

A number of other research analysts have also commented on INFY. Nomura lowered shares of Infosys from a “neutral” rating to a “reduce” rating in a research note on Monday, April 15th. Deutsche Bank reiterated a “buy” rating and set a $18.00 price target on shares of STMicroelectronics in a research note on Monday, April 15th. HSBC lowered shares of easyJet to a “hold” rating in a research note on Tuesday, April 2nd. Wells Fargo & Co set a $12.00 price target on shares of Infosys and gave the stock a “hold” rating in a research note on Friday, May 31st. Finally, Morgan Stanley dropped their price target on shares of Wells Fargo & Co from $55.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, April 15th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $11.36.

Infosys stock opened at $11.40 on Friday. The stock has a market cap of $46.59 billion, a PE ratio of 21.11, a P/E/G ratio of 2.07 and a beta of 0.52. The stock’s fifty day moving average price is $10.61. Infosys has a 12-month low of $8.85 and a 12-month high of $11.56.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Friday, July 12th. The technology company reported $0.13 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.13. Infosys had a net margin of 18.62% and a return on equity of 25.41%. The firm had revenue of $218.03 billion for the quarter, compared to analyst estimates of $216.51 billion. During the same period last year, the business earned $0.13 EPS. Infosys’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, analysts anticipate that Infosys will post 0.55 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Probity Advisors Inc. boosted its holdings in Infosys by 5.1% during the first quarter. Probity Advisors Inc. now owns 20,283 shares of the technology company’s stock worth $222,000 after buying an additional 989 shares in the last quarter. American Beacon Advisors Inc. boosted its holdings in Infosys by 56.2% during the first quarter. American Beacon Advisors Inc. now owns 3,139 shares of the technology company’s stock worth $34,000 after buying an additional 1,129 shares in the last quarter. Rational Advisors LLC boosted its holdings in Infosys by 50.0% during the first quarter. Rational Advisors LLC now owns 3,662 shares of the technology company’s stock worth $40,000 after buying an additional 1,221 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Infosys by 8.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 17,772 shares of the technology company’s stock worth $194,000 after buying an additional 1,443 shares in the last quarter. Finally, Butensky & Cohen Financial Security Inc. boosted its holdings in Infosys by 0.7% during the first quarter. Butensky & Cohen Financial Security Inc. now owns 221,035 shares of the technology company’s stock worth $2,416,000 after buying an additional 1,525 shares in the last quarter. 17.77% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Infosys (NYSE:INFY)

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