The Goldman Sachs Group Downgrades Infosys (NYSE:INFY) to Neutral

The Goldman Sachs Group cut shares of Infosys (NYSE:INFY - Free Report) from a buy rating to a neutral rating in a research note released on Monday, MarketBeat Ratings reports. The Goldman Sachs Group currently has $17.90 price objective on the technology company's stock.

Several other equities analysts also recently commented on the company. Susquehanna upgraded Infosys from a "negative" rating to a "neutral" rating and set a $17.00 price objective on the stock in a research note on Monday, April 14th. Guggenheim reaffirmed a "neutral" rating on shares of Infosys in a research report on Friday, January 17th. Stifel Nicolaus cut their price target on Infosys from $22.00 to $18.00 and set a "hold" rating for the company in a research note on Tuesday, April 15th. StockNews.com cut Infosys from a "buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Finally, Investec upgraded shares of Infosys from a "sell" rating to a "buy" rating in a research report on Friday, April 18th. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Infosys presently has a consensus rating of "Moderate Buy" and an average price target of $17.48.

Infosys Stock Performance

NYSE:INFY traded up $0.05 during trading on Monday, reaching $17.41. The company's stock had a trading volume of 7,573,947 shares, compared to its average volume of 9,644,070. The firm has a market cap of $72.11 billion, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of 3.50 and a beta of 0.97. Infosys has a 12 month low of $15.82 and a 12 month high of $23.63. The firm has a 50 day moving average of $18.40 and a 200-day moving average of $20.91.

Infosys (NYSE:INFY - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The technology company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $420.69 billion. Infosys had a net margin of 17.28% and a return on equity of 31.60%. During the same quarter in the prior year, the business earned $0.23 earnings per share. Equities research analysts forecast that Infosys will post 0.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Infosys

A number of large investors have recently modified their holdings of INFY. BHK Investment Advisors LLC lifted its stake in Infosys by 2.3% in the 4th quarter. BHK Investment Advisors LLC now owns 22,785 shares of the technology company's stock worth $499,000 after purchasing an additional 507 shares in the last quarter. Outlook Wealth Advisors LLC raised its position in shares of Infosys by 2.8% in the fourth quarter. Outlook Wealth Advisors LLC now owns 18,405 shares of the technology company's stock worth $403,000 after buying an additional 508 shares in the last quarter. GAMMA Investing LLC boosted its stake in Infosys by 14.2% during the fourth quarter. GAMMA Investing LLC now owns 4,496 shares of the technology company's stock valued at $99,000 after buying an additional 560 shares during the period. Kovitz Investment Group Partners LLC grew its position in Infosys by 5.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 10,467 shares of the technology company's stock worth $229,000 after buying an additional 579 shares in the last quarter. Finally, Flagship Harbor Advisors LLC increased its stake in Infosys by 6.2% in the 4th quarter. Flagship Harbor Advisors LLC now owns 11,026 shares of the technology company's stock worth $242,000 after acquiring an additional 641 shares during the last quarter. 16.20% of the stock is currently owned by institutional investors.

Infosys Company Profile

Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other.