Infosys Ltd (NYSE:INFY) – Equities research analysts at KeyCorp lowered their Q3 2020 earnings per share estimates for Infosys in a research note issued to investors on Tuesday, October 16th. KeyCorp analyst A. Ramnani now forecasts that the technology company will post earnings of $0.14 per share for the quarter, down from their previous estimate of $0.15. KeyCorp also issued estimates for Infosys’ Q4 2020 earnings at $0.14 EPS.
Infosys (NYSE:INFY) last posted its earnings results on Tuesday, October 16th. The technology company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. Infosys had a net margin of 21.94% and a return on equity of 24.56%. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the prior year, the firm earned $0.13 EPS.
Several other research firms have also recently commented on INFY. Robert W. Baird upped their target price on shares of Infosys from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, September 14th. ValuEngine cut shares of Infosys from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Cowen upped their target price on shares of Infosys from $16.00 to $17.00 and gave the stock a “market perform” rating in a research report on Monday, July 16th. Morgan Stanley cut shares of Infosys from an “overweight” rating to a “hold” rating in a research report on Monday, August 20th. Finally, Goldman Sachs Group cut shares of Infosys from a “buy” rating to a “neutral” rating and set a $11.00 target price for the company. in a research report on Wednesday. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $15.26.
NYSE INFY opened at $9.58 on Friday. Infosys has a 52 week low of $7.07 and a 52 week high of $10.65. The stock has a market capitalization of $41.46 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 1.83 and a beta of 0.41.
Institutional investors have recently bought and sold shares of the company. Avalon Advisors LLC bought a new position in shares of Infosys in the first quarter valued at approximately $870,000. Aperio Group LLC boosted its holdings in shares of Infosys by 54.0% in the second quarter. Aperio Group LLC now owns 2,139,510 shares of the technology company’s stock valued at $41,571,000 after acquiring an additional 749,865 shares in the last quarter. Genesis Asset Managers LLP boosted its holdings in shares of Infosys by 19.3% in the third quarter. Genesis Asset Managers LLP now owns 11,462,657 shares of the technology company’s stock valued at $116,575,000 after acquiring an additional 1,857,986 shares in the last quarter. LGT Capital Partners LTD. boosted its holdings in shares of Infosys by 7.8% in the second quarter. LGT Capital Partners LTD. now owns 716,200 shares of the technology company’s stock valued at $13,916,000 after acquiring an additional 51,800 shares in the last quarter. Finally, CSat Investment Advisory L.P. bought a new position in shares of Infosys in the second quarter valued at approximately $1,738,000. Institutional investors and hedge funds own 8.83% of the company’s stock.
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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