Infosys (NYSE:INFY) Raised to “Buy” at StockNews.com

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

Several other brokerages also recently issued reports on INFY. CLSA upgraded shares of Infosys from a “hold” rating to an “outperform” rating in a research report on Friday, March 7th. Guggenheim reaffirmed a “neutral” rating on shares of Infosys in a report on Friday, January 17th. Hsbc Global Res upgraded shares of Infosys from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Finally, HSBC raised shares of Infosys from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Infosys presently has an average rating of “Hold” and an average price target of $19.70.

Infosys Trading Up 1.3 %

Shares of INFY opened at $16.80 on Monday. Infosys has a 1-year low of $16.04 and a 1-year high of $23.63. The company has a market cap of $69.57 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 3.50 and a beta of 0.97. The company’s fifty day simple moving average is $19.99 and its 200 day simple moving average is $21.52.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, January 16th. The technology company reported $0.19 earnings per share (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 prior year, the business posted $0.18 earnings per share. As a group, research analysts forecast that Infosys will post 0.74 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BHK Investment Advisors LLC grew its position in Infosys by 2.3% during the 4th quarter. BHK Investment Advisors LLC now owns 22,785 shares of the technology company’s stock worth $499,000 after acquiring an additional 507 shares during the last quarter. Outlook Wealth Advisors LLC boosted its stake in shares of Infosys by 2.8% during the fourth quarter. Outlook Wealth Advisors LLC now owns 18,405 shares of the technology company’s stock valued at $403,000 after purchasing an additional 508 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Infosys by 14.2% during the fourth quarter. GAMMA Investing LLC now owns 4,496 shares of the technology company’s stock worth $99,000 after purchasing an additional 560 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of Infosys by 5.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 10,467 shares of the technology company’s stock valued at $229,000 after buying an additional 579 shares during the period. Finally, Flagship Harbor Advisors LLC raised its holdings in Infosys by 6.2% in the 4th quarter. Flagship Harbor Advisors LLC now owns 11,026 shares of the technology company’s stock valued at $242,000 after buying an additional 641 shares during the last quarter. 16.20% of the stock is currently owned by institutional investors and hedge funds.

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.