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

StockNews.com lowered shares of Infosys (NYSE:INFY) from a buy rating to a hold rating in a research note published on Friday.

INFY has been the subject of a number of other research reports. Investec lowered shares of Infosys from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Erste Group Bank upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. BMO Capital Markets upped their price objective on Infosys from $23.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, October 18th. HSBC upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Finally, Hsbc Global Res raised Infosys from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.85.

Infosys Stock Up 0.0 %

INFY opened at $22.63 on Friday. Infosys has a twelve month low of $16.04 and a twelve month high of $23.63. The company has a market cap of $93.73 billion, a PE ratio of 29.01, a price-to-earnings-growth ratio of 3.77 and a beta of 1.00. The company has a 50-day moving average price of $22.28 and a 200 day moving average price of $21.84.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, October 17th. The technology company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Infosys had a return on equity of 31.43% and a net margin of 17.15%. During the same period in the previous year, the business earned $0.18 earnings per share. As a group, sell-side analysts expect that Infosys will post 0.75 earnings per share for the current year.

Infosys Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, October 29th. Investors of record on Friday, January 1st were paid a dividend of $0.2126 per share. This is a boost from Infosys’s previous semi-annual dividend of $0.20. The ex-dividend date was Tuesday, October 29th. This represents a yield of 1.1%. Infosys’s payout ratio is presently 53.85%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. grew its stake in Infosys by 68.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,339,983 shares of the technology company’s stock worth $542,051,000 after buying an additional 9,923,744 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Infosys by 37.3% during the second quarter. Canada Pension Plan Investment Board now owns 21,580,344 shares of the technology company’s stock worth $401,826,000 after acquiring an additional 5,862,144 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Infosys by 6,071.1% during the third 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 last quarter. Millennium Management LLC increased its holdings in shares of Infosys by 67.9% in the 2nd quarter. Millennium Management LLC now owns 7,601,073 shares of the technology company’s stock valued at $141,532,000 after acquiring an additional 3,074,432 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in Infosys by 46.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,234,500 shares of the technology company’s stock valued at $97,467,000 after purchasing an additional 1,648,650 shares during the last quarter. 16.20% of the stock is owned by hedge funds and other institutional investors.

Infosys Company Profile

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.