Infosys (NYSE:INFY) posted its quarterly earnings data on Friday. The technology company reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25, Morningstar.com reports. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Infosys had a net margin of 21.04% and a return on equity of 21.05%. During the same period last year, the firm posted $0.24 earnings per share.
Shares of Infosys (NYSE INFY) opened at $16.81 on Friday. Infosys has a one year low of $13.42 and a one year high of $17.37. The company has a market cap of $38,429.12, a P/E ratio of 15.56, a P/E/G ratio of 1.92 and a beta of 0.69.
A number of hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its stake in Infosys by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 18,729 shares of the technology company’s stock valued at $282,000 after purchasing an additional 395 shares during the last quarter. M&T Bank Corp lifted its position in shares of Infosys by 0.9% in the 2nd quarter. M&T Bank Corp now owns 68,760 shares of the technology company’s stock valued at $1,033,000 after acquiring an additional 590 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Infosys by 4.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 13,365 shares of the technology company’s stock valued at $201,000 after acquiring an additional 605 shares in the last quarter. Peapack Gladstone Financial Corp lifted its position in shares of Infosys by 6.0% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 17,720 shares of the technology company’s stock valued at $266,000 after acquiring an additional 1,000 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Infosys by 1.7% in the 2nd quarter. American Century Companies Inc. now owns 78,808 shares of the technology company’s stock valued at $1,184,000 after acquiring an additional 1,280 shares in the last quarter. 18.85% of the stock is owned by institutional investors and hedge funds.
INFY has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Infosys from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Tuesday, December 26th. Bank of America raised shares of Infosys from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 5th. Cantor Fitzgerald reissued a “hold” rating and set a $14.00 target price on shares of Infosys in a research note on Sunday, January 7th. Stifel Nicolaus reissued a “hold” rating on shares of Infosys in a research note on Thursday, October 26th. Finally, Oppenheimer reissued a “hold” rating on shares of Infosys in a research note on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $15.34.
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Infosys Company Profile
Infosys Limited is engaged in consulting, technology, outsourcing and next-generation services. The Company, along with its subsidiaries, provides business information technology services comprising application development and maintenance, independent validation, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking solution, and offerings in the areas of Analytics, Cloud and Digital Transformation.
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