Infosys Limited (NYSE:INFY – Get Rating) – William Blair decreased their FY2024 earnings estimates for Infosys in a report issued on Thursday, January 12th. William Blair analyst M. Nolan now anticipates that the technology company will post earnings per share of $0.78 for the year, down from their prior forecast of $0.79. The consensus estimate for Infosys' current full-year earnings is $0.71 per share. William Blair also issued estimates for Infosys' FY2025 earnings at $0.87 EPS.
Get Infosys alerts:Infosys (NYSE:INFY – Get Rating) last released its quarterly earnings results on Thursday, January 12th. The technology company reported $0.19 earnings per share for the quarter, meeting analysts' consensus estimates of $0.19. Infosys had a net margin of 16.66% and a return on equity of 30.65%. The company had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the firm earned $0.18 earnings per share.
A number of other research firms also recently issued reports on INFY. BMO Capital Markets raised their price objective on shares of Infosys from $20.00 to $21.00 and gave the stock a "market perform" rating in a report on Friday. Cowen reduced their target price on shares of Infosys from $19.00 to $18.00 and set a "market perform" rating for the company in a research note on Friday, October 14th. StockNews.com upgraded shares of Infosys from a "hold" rating to a "buy" rating in a research note on Tuesday, January 10th. Cowen reduced their target price on shares of Infosys from $19.00 to $18.00 and set a "market perform" rating for the company in a research note on Friday, October 14th. Finally, Investec raised shares of Infosys from a "hold" rating to a "buy" rating in a research note on Friday, October 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $21.19.Infosys Stock Performance
NYSE INFY opened at $18.52 on Monday. Infosys has a 52-week low of $16.39 and a 52-week high of $26.29. The company has a 50-day simple moving average of $18.80 and a 200 day simple moving average of $18.60. The company has a market capitalization of $77.93 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 2.62 and a beta of 1.01.
Institutional Investors Weigh In On Infosys
A number of hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. raised its holdings in Infosys by 4.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,735 shares of the technology company's stock valued at $417,000 after buying an additional 652 shares during the last quarter. Cibc World Market Inc. raised its holdings in Infosys by 39.8% during the 1st quarter. Cibc World Market Inc. now owns 157,264 shares of the technology company's stock valued at $3,914,000 after buying an additional 44,768 shares during the last quarter. Blair William & Co. IL bought a new stake in Infosys during the 1st quarter valued at $465,000. Canada Pension Plan Investment Board raised its holdings in Infosys by 108.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,017,100 shares of the technology company's stock valued at $25,315,000 after buying an additional 528,900 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in Infosys by 1.6% during the 1st quarter. Allianz Asset Management GmbH now owns 1,051,193 shares of the technology company's stock valued at $26,164,000 after buying an additional 16,102 shares during the last quarter. 12.68% of the stock is currently owned by institutional investors.
Infosys Company Profile
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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 development and management, independent validation, product engineering and management, infrastructure management, enterprise application management, and support and integration services.
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