The Infosys Ltd. (INFY) Announces Quarterly Earnings Results, Hits Expectations

The Infosys Ltd. (INFY) Announces Quarterly  Earnings Results, Hits Expectations

Infosys Ltd. (NYSE:INFY) announced its quarterly earnings results on Friday. The company reported $0.24 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.24. The company earned $2.59 billion during the quarter, compared to the consensus estimate of $2.60 billion. Infosys had a return on equity of 23.24% and a net margin of 21.41%. During the same period in the previous year, the business earned $0.23 EPS.

Infosys (NYSE:INFY) opened at 16.65 on Friday. The firm has a market cap of $38.06 billion, a PE ratio of 18.30 and a beta of 1.07. The firm’s 50-day moving average price is $16.02 and its 200 day moving average price is $17.52. Infosys has a 52-week low of $15.48 and a 52-week high of $20.47.

Several institutional investors have recently modified their holdings of the company. Peapack Gladstone Financial Corp boosted its position in shares of Infosys by 17.3% in the second quarter. Peapack Gladstone Financial Corp now owns 14,920 shares of the company’s stock valued at $266,000 after buying an additional 2,200 shares during the last quarter. Paloma Partners Management Co boosted its position in shares of Infosys by 60.4% in the second quarter. Paloma Partners Management Co now owns 16,336 shares of the company’s stock valued at $292,000 after buying an additional 6,149 shares during the last quarter. US Bancorp DE boosted its position in shares of Infosys by 14.0% in the second quarter. US Bancorp DE now owns 18,122 shares of the company’s stock valued at $323,000 after buying an additional 2,222 shares during the last quarter. Wetherby Asset Management Inc. boosted its position in shares of Infosys by 5.0% in the second quarter. Wetherby Asset Management Inc. now owns 32,901 shares of the company’s stock valued at $587,000 after buying an additional 1,572 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Infosys by 15.5% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,028 shares of the company’s stock valued at $661,000 after buying an additional 4,966 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently commented on the company. Zacks Investment Research upgraded Infosys from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Friday, June 17th. Pacific Crest assumed coverage on Infosys in a research report on Tuesday, July 12th. They set a “sector weight” rating on the stock. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Infosys in a research report on Friday, July 15th. Credit Suisse Group AG cut Infosys from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $15.71 to $16.81 in a research report on Monday, July 18th. Finally, Nomura cut Infosys from a “buy” rating to a “neutral” rating in a research report on Monday, July 18th. Thirteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $17.97.

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