Infosys (NYSE:INFY) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Infosys (NYSE:INFY) from a buy rating to a hold rating in a report issued on Monday morning.

Several other research analysts have also recently commented on the company. Hsbc Global Res raised Infosys from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Guggenheim reaffirmed a “neutral” rating on shares of Infosys in a research report on Friday, January 17th. CLSA raised Infosys from a “hold” rating to an “outperform” rating in a research report on Friday, March 7th. Finally, HSBC raised Infosys from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Infosys currently has a consensus rating of “Hold” and a consensus target price of $20.22.

Infosys Stock Performance

Shares of NYSE INFY opened at $18.51 on Monday. The stock has a 50 day moving average price of $21.42 and a 200 day moving average price of $22.13. Infosys has a 52 week low of $16.04 and a 52 week high of $23.63. The stock has a market capitalization of $76.65 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 3.50 and a beta of 1.01.

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

Hedge Funds Weigh In On Infosys

A number of large investors have recently made changes to their positions in INFY. Assetmark Inc. increased its stake in shares of Infosys by 37.4% during the third quarter. Assetmark Inc. now owns 25,963 shares of the technology company’s stock worth $578,000 after purchasing an additional 7,066 shares during the period. Crossmark Global Holdings Inc. increased its stake in 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 acquiring an additional 65,189 shares during the period. Baillie Gifford & Co. increased its stake in 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 acquiring an additional 135,911 shares during the period. Victory Capital Management Inc. increased its stake in 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 acquiring an additional 4,663,023 shares during the period. Finally, Empower Advisory Group LLC increased its stake in 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 acquiring an additional 3,820 shares during the period. Institutional investors own 16.20% of the company’s stock.

About Infosys

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.