Infosys (NYSE:INFY) Stock Rating Upgraded by Bank of America

Bank of America upgraded shares of Infosys (NYSE:INFY - Free Report) from a neutral rating to a buy rating in a report issued on Tuesday, Marketbeat Ratings reports.

INFY has been the subject of a number of other reports. Wedbush reissued an outperform rating and issued a $22.00 price target on shares of Infosys in a research note on Wednesday, March 13th. BNP Paribas began coverage on shares of Infosys in a report on Wednesday, January 17th. They issued an outperform rating and a $24.00 target price on the stock. HSBC raised shares of Infosys from a hold rating to a buy rating in a research note on Monday, April 1st. UBS Group raised shares of Infosys from a neutral rating to a buy rating in a research note on Wednesday, January 3rd. Finally, Guggenheim began coverage on shares of Infosys in a research note on Tuesday, March 19th. They set a neutral rating and a $20.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Infosys currently has a consensus rating of Moderate Buy and an average price target of $20.76.

Infosys Price Performance

Infosys stock traded up $0.33 during mid-day trading on Tuesday, hitting $18.19. The company's stock had a trading volume of 13,467,879 shares, compared to its average volume of 8,746,849. The stock has a market cap of $75.29 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 2.35 and a beta of 0.93. The business has a 50 day moving average price of $19.31 and a 200-day moving average price of $18.35. Infosys has a 12 month low of $14.71 and a 12 month high of $20.74.

Infosys (NYSE:INFY - Get Free Report) last issued its quarterly earnings data on Thursday, January 11th. The technology company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. The firm had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.58 billion. Infosys had a net margin of 15.91% and a return on equity of 31.25%. On average, equities research analysts expect that Infosys will post 0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Infosys

A number of large investors have recently made changes to their positions in the company. Buckingham Capital Management Inc. boosted its stake in shares of Infosys by 0.6% during the 4th quarter. Buckingham Capital Management Inc. now owns 87,324 shares of the technology company's stock worth $1,605,000 after purchasing an additional 499 shares during the period. HB Wealth Management LLC boosted its stake in shares of Infosys by 5.7% during the 4th quarter. HB Wealth Management LLC now owns 10,661 shares of the technology company's stock worth $196,000 after purchasing an additional 575 shares during the period. GAMMA Investing LLC boosted its stake in shares of Infosys by 33.0% during the 1st quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company's stock worth $43,000 after purchasing an additional 593 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Infosys by 7.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 8,840 shares of the technology company's stock worth $142,000 after purchasing an additional 610 shares during the period. Finally, Marshall Financial Group LLC boosted its stake in shares of Infosys by 1.2% during the 4th quarter. Marshall Financial Group LLC now owns 52,478 shares of the technology company's stock worth $965,000 after purchasing an additional 622 shares during the period. 10.89% of the stock is owned by hedge funds and other institutional investors.

About Infosys

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.