Infosys (INFY) Rating Lowered to Hold at Morgan Stanley

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Infosys (NYSE:INFY) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to a “hold” rating in a note issued to investors on Monday, The Fly reports.

Other equities analysts also recently issued research reports about the company. Cantor Fitzgerald upped their target price on Infosys from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, July 16th. Zacks Investment Research downgraded Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, June 21st. Deutsche Bank started coverage on Infosys in a research report on Thursday, July 12th. They issued a “buy” rating on the stock. ValuEngine raised Infosys from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. Finally, Cowen increased their price target on Infosys from $16.00 to $17.00 and gave the stock a “market perform” rating in a research report on Monday, July 16th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $16.91.

Infosys stock opened at $20.49 on Monday. Infosys has a 12 month low of $14.08 and a 12 month high of $21.14. The company has a market capitalization of $45.81 billion, a PE ratio of 20.35, a PEG ratio of 2.02 and a beta of 0.47.

Infosys (NYSE:INFY) last posted its earnings results on Friday, July 13th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. Infosys had a return on equity of 23.22% and a net margin of 22.30%. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.87 billion. sell-side analysts expect that Infosys will post 1.06 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of INFY. Franklin Resources Inc. boosted its holdings in shares of Infosys by 599.1% in the 1st quarter. Franklin Resources Inc. now owns 5,120,977 shares of the technology company’s stock valued at $91,410,000 after purchasing an additional 4,388,514 shares in the last quarter. Genesis Asset Managers LLP boosted its holdings in shares of Infosys by 74.4% in the 2nd 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 boosted its holdings in shares of Infosys by 22.6% in the 2nd 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. Kiltearn Partners LLP acquired a new stake in shares of Infosys in the 1st quarter valued at $43,597,000. Finally, Somerset Capital Management LLP acquired a new stake in shares of Infosys in the 2nd quarter valued at $35,786,000. 18.80% 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.

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