Nomura Downgrades Infosys (INFY) to Reduce

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Nomura lowered shares of Infosys (NYSE:INFY) from a neutral rating to a reduce rating in a research report sent to investors on Monday, BenzingaRatingsTable reports.

Several other research firms have also recently issued reports on INFY. Zacks Investment Research cut Infosys from a hold rating to a sell rating in a research note on Wednesday, April 10th. HSBC cut Infosys from a buy rating to a hold rating in a research note on Tuesday, April 2nd. Deutsche Bank cut Infosys from a buy rating to a hold rating in a research note on Monday. Investec cut Infosys from a buy rating to a hold rating in a research note on Monday. Finally, Cantor Fitzgerald reissued a hold rating and issued a $10.00 price target on shares of Infosys in a research note on Friday, January 11th. Two equities research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. The company presently has an average rating of Hold and a consensus price target of $11.26.

NYSE:INFY opened at $10.39 on Monday. Infosys has a 1 year low of $8.45 and a 1 year high of $11.38. The firm has a market capitalization of $45.24 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 1.90 and a beta of 0.54.

Infosys (NYSE:INFY) last released its quarterly earnings results on Friday, April 12th. The technology company reported $0.13 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.13. Infosys had a return on equity of 25.41% and a net margin of 18.62%. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the prior year, the business posted $0.13 earnings per share. On average, research analysts expect that Infosys will post 0.56 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Fisher Asset Management LLC boosted its stake in Infosys by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 41,879,875 shares of the technology company’s stock valued at $398,696,000 after buying an additional 647,262 shares in the last quarter. Investec Asset Management LTD boosted its stake in Infosys by 23.1% during the fourth quarter. Investec Asset Management LTD now owns 39,628,149 shares of the technology company’s stock valued at $377,260,000 after buying an additional 7,430,134 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Infosys by 1,119,378.1% during the third quarter. Bank of New York Mellon Corp now owns 34,065,719 shares of the technology company’s stock valued at $346,449,000 after buying an additional 34,062,676 shares in the last quarter. BlackRock Inc. boosted its stake in Infosys by 166.6% during the third quarter. BlackRock Inc. now owns 29,932,893 shares of the technology company’s stock valued at $304,416,000 after buying an additional 18,705,434 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Infosys by 140.0% during the third quarter. AQR Capital Management LLC now owns 25,803,860 shares of the technology company’s stock valued at $262,425,000 after buying an additional 15,050,391 shares in the last quarter. 17.81% of the stock is owned by institutional investors and hedge funds.

About Infosys

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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Analyst Recommendations for Infosys (NYSE:INFY)

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