Zacks Investment Research Downgrades Infosys Ltd (INFY) to Hold
Zacks Investment Research Downgrades Infosys Ltd (INFY) to Hold
16 Abril, 2017, 10:39
Stock traders bought 6,745 put options on the company.
Infosys Ltd (NYSE:INFY) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued to investors on Tuesday. Nordea Investment Management AB now owns 22,531,592 shares of the company's stock valued at $355,549,000 after buying an additional 3,595,433 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Infosys by 17.5% in the third quarter. Creative Planning increased its position in Infosys by 3.3% in the first quarter. The company reported the earnings of $0.24/Share in the last quarter where the estimated EPS by analysts was $0.23/share. CT Financial Advisors LLC purchased a new stake in Infosys during the first quarter worth about $144,000. Finally, Tower Research Capital LLC TRC raised its stake in Infosys Limited by 870.4% in the second quarter.
A number of hedge funds and other institutional investors have recently modified their holdings of the company.
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Infosys Limited (NYSE:INFY) has price to book ratio of 3.44 and price to earnings ratio of 15.70, which is valid method to judge except not universal for all situation. The firm owned 615,118 shares of the company's stock after selling 168,750 shares during the period.
Infosys Limited (NYSE:INFY) shares price knock down -2.95% during Thursday trading session. 11,588,506 shares of the stock were exchanged. Infosys has a 1-year low of $13.42 and a 1-year high of $20.47. The stock has a market cap of $31.56 billion, a PE ratio of 14.82 and a beta of 0.93. The share price is trading in a range of $14.91 - 15.19.
INFY wasn't the only name to take a hit following an earnings report on Thursday.
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Several investment firms issued their expert ratings on Infosys Limited (INFY) in which Wedbush Initiates Coverage on Infosys Limited (INFY) to Neutral by settling a price target of $18 on 9/09/16. 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 report on Monday, March 20th. 0 analysts have put a Hold rating on the stock, and 0 are giving a Sell recommendation. Infosys presently has a consensus rating of Hold and an average target price of $16.64. HSBC Downgrades the stock to Hold on 8/09/16 with no specific Price Target. 1 Month Ago, INFY's stock has been recommended as BUY from 33 and 6 given OVERWEIGHT rating for the company. Price targets frequently change, depending on the outlook for a company's earnings.
The two outsourcing giants Infosys and Tata Consultancy Services rely on H-1B visas to place thousands of Indian workers with USA customers, who demand skills in software development and systems integration. 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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