Cowen & Co. Keeps a Hold Rating on Infosys Limited

By Austin Angelo

Cowen & Co. analyst Bryan Bergin reiterated a Hold rating on Infosys Limited (NYSE: INFY) today and set a price target of $15. The company’s shares closed yesterday at $14.58.

According to TipRanks.com, Bergin is a 5-star analyst with an average return of 17.3% and a 98.0% success rate. Bergin covers the Technology sector, focusing on stocks such as Sapiens International Corporation, DXC Technology Company, and Exlservice Holdings.

Currently, the analyst consensus on Infosys Limited is Hold and the average price target is $15.84, representing an 8.6% upside.

In a report issued on October 3, Robert W. Baird also reiterated a Hold rating on the stock with a $16 price target.

Based on Infosys Limited’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $2.65 billion and quarterly net profit of $540 million. In comparison, last year the company earned revenue of $2.59 billion and had a net profit of $539 million.

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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.