Infosys (NYSE:INFY) Lowered to "Neutral" Rating by The Goldman Sachs Group

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

Several other equities research analysts have also recently issued reports on the company. StockNews.com cut Infosys from a "buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Stifel Nicolaus cut their price objective on Infosys from $22.00 to $18.00 and set a "hold" rating for the company in a research report on Tuesday, April 15th. Susquehanna raised shares of Infosys from a "negative" rating to a "neutral" rating and set a $17.00 target price on the stock in a research report on Monday, April 14th. Guggenheim reiterated a "neutral" rating on shares of Infosys in a research report on Friday, January 17th. Finally, CLSA upgraded shares of Infosys from a "hold" rating to an "outperform" rating in a research note on Friday, March 7th. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Infosys presently has a consensus rating of "Moderate Buy" and an average price target of $17.48.

Infosys Price Performance

NYSE INFY traded up $0.05 during trading hours on Monday, hitting $17.41. 7,573,947 shares of the company's stock traded hands, compared to its average volume of 9,648,100. The firm's 50-day moving average is $18.48 and its 200-day moving average is $20.95. The company has a market capitalization of $72.11 billion, a PE ratio of 22.04, a PEG ratio of 3.50 and a beta of 0.97. Infosys has a 52-week low of $15.82 and a 52-week high of $23.63.

Infosys (NYSE:INFY - Get Free Report) last announced 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. Infosys had a net margin of 17.28% and a return on equity of 31.60%. The firm had revenue of $4.79 billion for the quarter, compared to analysts' expectations of $420.69 billion. During the same quarter in the previous year, the company posted $0.23 EPS. Equities research analysts predict that Infosys will post 0.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Infosys

Several hedge funds and other institutional investors have recently made changes to their positions in INFY. AQR Capital Management LLC raised its holdings in Infosys by 270.9% during the fourth quarter. AQR Capital Management LLC now owns 9,164,085 shares of the technology company's stock worth $200,877,000 after purchasing an additional 6,693,127 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Infosys by 118.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,912,259 shares of the technology company's stock worth $173,437,000 after purchasing an additional 4,296,291 shares in the last quarter. First Trust Advisors LP increased its position in Infosys by 14.5% during the fourth quarter. First Trust Advisors LP now owns 32,410,108 shares of the technology company's stock worth $710,430,000 after buying an additional 4,108,903 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its position in Infosys by 1,668.3% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,228,211 shares of the technology company's stock valued at $75,470,000 after purchasing an additional 3,045,656 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Infosys by 43.1% in the fourth quarter. Bank of America Corp DE now owns 8,225,396 shares of the technology company's stock valued at $180,301,000 after purchasing an additional 2,478,093 shares during the period. Institutional investors and hedge funds own 16.20% of the company's stock.

About Infosys

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.