Infosys Ltd (NYSE:INFY) shares shot up 8.7% during trading on Tuesday . The company traded as high as $8.06 and last traded at $7.74, 20,454,301 shares traded hands during mid-day trading. An increase of 32% from the average session volume of 15,514,716 shares. The stock had previously closed at $7.12.

A number of brokerages recently commented on INFY. JPMorgan Chase & Co. began coverage on shares of Infosys in a research note on Thursday, February 20th. They issued an “overweight” rating on the stock. ValuEngine cut shares of Infosys from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Goldman Sachs Group upgraded shares of Infosys from a “neutral” rating to a “buy” rating and upped their price target for the company from $10.09 to $13.53 in a research report on Monday, February 17th. Wells Fargo & Co upped their price target on shares of Infosys from $8.50 to $10.50 and gave the company an “equal weight” rating in a research report on Thursday, January 9th. Finally, Zacks Investment Research cut shares of Infosys from a “hold” rating to a “sell” rating and set a $11.00 price target for the company. in a research report on Monday, January 13th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.44.

The company’s 50-day moving average price is $9.85 and its two-hundred day moving average price is $10.31. The company has a market capitalization of $30.19 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 1.39 and a beta of 0.50.

Infosys (NYSE:INFY) last released its quarterly earnings data on Friday, January 10th. The technology company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The firm had revenue of $23.09 billion for the quarter, compared to analyst estimates of $231.76 billion. Infosys had a net margin of 18.36% and a return on equity of 26.68%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $0.12 earnings per share. Analysts predict that Infosys Ltd will post 0.55 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Genesis Investment Management LLP grew its stake in Infosys by 165.1% in the fourth quarter. Genesis Investment Management LLP now owns 17,411,488 shares of the technology company’s stock valued at $179,687,000 after purchasing an additional 10,844,235 shares during the last quarter. Segantii Capital Management Ltd boosted its holdings in Infosys by 2,284.5% in the fourth quarter. Segantii Capital Management Ltd now owns 9,061,209 shares of the technology company’s stock valued at $92,963,000 after purchasing an additional 8,681,209 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Infosys by 31.8% in the fourth quarter. AQR Capital Management LLC now owns 20,838,908 shares of the technology company’s stock valued at $215,057,000 after purchasing an additional 5,030,407 shares in the last quarter. LMR Partners LLP boosted its holdings in Infosys by 62.9% in the fourth quarter. LMR Partners LLP now owns 10,551,835 shares of the technology company’s stock valued at $108,895,000 after purchasing an additional 4,075,742 shares in the last quarter. Finally, Comgest Global Investors S.A.S. boosted its holdings in Infosys by 18.4% in the fourth quarter. Comgest Global Investors S.A.S. now owns 24,216,868 shares of the technology company’s stock valued at $249,890,000 after purchasing an additional 3,765,020 shares in the last quarter. 16.47% of the stock is owned by institutional investors.

About Infosys (NYSE:INFY)

Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.

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