Infosys (INFY) Downgraded to Neutral at Citigroup

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Infosys (NYSE:INFY) was downgraded by stock analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, The Fly reports.

Several other equities analysts also recently commented on INFY. Zacks Investment Research downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. HSBC downgraded shares of Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. Wells Fargo & Co restated a “hold” rating on shares of Infosys in a report on Friday. Morgan Stanley upgraded shares of Infosys from an “equal weight” rating to an “overweight” rating in a report on Monday, January 14th. Finally, Nomura upgraded shares of Infosys from a “reduce” rating to a “neutral” rating in a report on Monday, January 14th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $12.23.

NYSE INFY opened at $10.55 on Monday. Infosys has a 1-year low of $8.24 and a 1-year high of $11.38. The firm has a market capitalization of $47.68 billion, a PE ratio of 21.10, a P/E/G ratio of 1.94 and a beta of 0.54.

Infosys (NYSE:INFY) last posted its quarterly earnings results on Friday, April 12th. The technology company reported $0.13 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.13. Infosys had a net margin of 18.95% and a return on equity of 24.93%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the business posted $0.13 earnings per share. Research analysts predict that Infosys will post 0.52 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Nkcfo LLC bought a new stake in Infosys during the fourth quarter valued at about $25,000. We Are One Seven LLC bought a new stake in Infosys during the fourth quarter valued at about $28,000. Advisory Services Network LLC boosted its holdings in Infosys by 303.8% during the fourth quarter. Advisory Services Network LLC now owns 4,228 shares of the technology company’s stock valued at $40,000 after acquiring an additional 3,181 shares during the period. Financial Gravity Companies Inc. bought a new stake in Infosys during the fourth quarter valued at about $44,000. Finally, Guinness Asset Management Ltd boosted its holdings in Infosys by 29.8% during the fourth quarter. Guinness Asset Management Ltd now owns 5,320 shares of the technology company’s stock valued at $51,000 after acquiring an additional 1,220 shares during the period. Institutional investors own 17.81% of the company’s stock.

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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Analyst Recommendations for Infosys (NYSE:INFY)

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