Infosys’ (INFY) “Hold” Rating Reiterated at HSBC

HSBC restated their hold rating on shares of Infosys (NYSE:INFY) in a research note issued to investors on Friday morning, Benzinga reports. HSBC currently has a $20.10 price objective on the technology company’s stock.

A number of other analysts have also issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Infosys from $18.00 to $21.00 and gave the company a market perform rating in a research note on Friday, January 12th. JPMorgan Chase & Co. upgraded shares of Infosys from a neutral rating to an overweight rating in a research note on Wednesday, January 3rd. UBS Group upgraded shares of Infosys from a neutral rating to a buy rating in a research note on Wednesday, January 3rd. Guggenheim began coverage on shares of Infosys in a report on Tuesday, March 19th. They set a neutral rating and a $20.00 price target for the company. Finally, Wedbush reissued an outperform rating and set a $22.00 price target on shares of Infosys in a report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $19.27.

Infosys Stock Up 1.8 %

Shares of INFY stock opened at $16.81 on Friday. The stock has a market cap of $69.58 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 2.22 and a beta of 0.93. Infosys has a fifty-two week low of $14.71 and a fifty-two week high of $20.74. The firm’s 50 day moving average price is $18.80 and its two-hundred day moving average price is $18.35.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.49 billion. Infosys had a net margin of 17.06% and a return on equity of 33.26%. During the same period in the previous year, the company posted $0.18 earnings per share. On average, equities analysts forecast that Infosys will post 0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Infosys

Several hedge funds and other institutional investors have recently bought and sold shares of INFY. Raymond James Financial Services Advisors Inc. raised its position in Infosys by 4.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 16,735 shares of the technology company’s stock worth $417,000 after acquiring an additional 652 shares in the last quarter. Cibc World Market Inc. raised its holdings in Infosys by 39.8% during the 1st quarter. Cibc World Market Inc. now owns 157,264 shares of the technology company’s stock worth $3,914,000 after buying an additional 44,768 shares during the period. Blair William & Co. IL acquired a new stake in Infosys during the 1st quarter worth about $465,000. Canada Pension Plan Investment Board grew its stake in Infosys by 108.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,017,100 shares of the technology company’s stock valued at $25,315,000 after acquiring an additional 528,900 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in Infosys by 1.6% during the 1st quarter. Allianz Asset Management GmbH now owns 1,051,193 shares of the technology company’s stock valued at $26,164,000 after acquiring an additional 16,102 shares in the last quarter. 10.89% of the stock is currently owned by institutional investors.

About Infosys

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.