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Infosys Limited (INFY) Receives a Hold from Oppenheimer


In a report released today, Glenn Greene from Oppenheimer maintained a Hold rating on Infosys Limited (INFY). The company’s shares closed yesterday at $9.88.

Greene noted:

“Infosys reported solid 3QFY19 results with 2.7% CC Q/Q revenue growth to $2.99B (vs. our $2.96B estimate). Operating margins were 90bps below our estimate but still within target range. EPS of $0.12 compare with our/Street’s $0.13 estimates. Notably, INFY raised its FY19 outlook, which now anticipates 8.5-9% CC revenue growth (was 6-8%) and 22-24% operating margins (unchanged). Also, Financial Services growth was again strong (Tata mentioned similarly solid Financial Svcs), and grew 3.6% Q/ Q in CC. INFY saw strong large-deal signings (>$1.5B in 3Q), and faster-growing digital services now represent ~31.5% of revenues, up 33% Y/Y. It also announced a meaningful share buyback up to ~$1.2B. We maintain our Perform rating, and our estimates are under review.”

According to TipRanks.com, Greene is a top 25 analyst with an average return of 17.4% and a 73.4% success rate. Greene covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Total System Services.

Currently, the analyst consensus on Infosys Limited is a Hold with an average price target of $9.77.

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The company has a one-year high of $10.65 and a one-year low of $8.18. Currently, Infosys Limited has an average volume of 10.09M.

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Infosys Ltd. is a consulting, technology and outsourcing company, which provides end-to-end business solutions thereby enabling clients to enhance business performance. The company operates through following segments: Financial Services, Manufacturing, Retail, Consumer packaged goods and Logistics, the Energy & Utilities, Communication & Services, Hi-Tech, Life Sciences, Healthcare & Insurance and All Other. It offers information technology services, engineering Services, consulting Services, BPO services and products and platforms. The company’s end-to-end business solutions include business information technology services, comprising application development and maintenance, independent validation services, infrastructure management, engineering services comprising product engineering and life cycle solutions and business process management; consulting and systems integration services, comprising consulting, enterprise solutions, systems integration and advanced technologies; products, business platforms and solutions to accelerate intellectual property-led innovation, including Finacle, its banking product, which offers solutions to address core banking, mobile banking and e-banking needs of retail, corporate and universal banks worldwide. Infosys was founded by K. Dinesh, S. Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Nandan M. Nilekani, Raghavan N. S., Ashok Arora and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.

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