Infosys (NYSE:INFY) – Investment analysts at Cantor Fitzgerald lifted their FY2019 EPS estimates for shares of Infosys in a note issued to investors on Sunday, April 15th. Cantor Fitzgerald analyst J. Foresi now anticipates that the technology company will earn $1.10 per share for the year, up from their prior estimate of $1.04. Cantor Fitzgerald has a “Hold” rating and a $16.00 price target on the stock.
A number of other analysts also recently weighed in on the company. Goldman Sachs upgraded Infosys from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Morgan Stanley upgraded Infosys from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 16th. Susquehanna Bancshares reiterated a “negative” rating on shares of Infosys in a research report on Monday, February 5th. Zacks Investment Research upgraded Infosys from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Tuesday, December 26th. Finally, ValuEngine upgraded Infosys from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $16.35.
Infosys (NYSE:INFY) last posted its quarterly earnings results on Friday, April 13th. The technology company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.01. Infosys had a return on equity of 21.93% and a net margin of 22.73%. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the previous year, the business earned $0.24 earnings per share.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Infosys by 3.5% in the fourth quarter. BlackRock Inc. now owns 11,826,350 shares of the technology company’s stock worth $191,823,000 after acquiring an additional 399,254 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Infosys by 358.0% in the fourth quarter. Bank of New York Mellon Corp now owns 4,679,711 shares of the technology company’s stock worth $75,905,000 after acquiring an additional 3,658,003 shares during the last quarter. Maple Brown Abbott Ltd raised its holdings in shares of Infosys by 71.2% in the fourth quarter. Maple Brown Abbott Ltd now owns 4,103,548 shares of the technology company’s stock worth $66,560,000 after acquiring an additional 1,706,482 shares during the last quarter. Aperio Group LLC raised its holdings in shares of Infosys by 27.6% in the fourth quarter. Aperio Group LLC now owns 1,104,950 shares of the technology company’s stock worth $17,922,000 after acquiring an additional 239,285 shares during the last quarter. Finally, First Allied Advisory Services Inc. acquired a new position in shares of Infosys in the fourth quarter worth $388,000. 19.51% of the stock is owned by institutional investors.
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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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