Oppenheimer Remains a Hold on Infosys Limited

By Austin Angelo

Oppenheimer analyst Glenn Greene maintained a Hold rating on Infosys Limited (NYSE: INFY) today. The company’s shares closed yesterday at $20.01, close to its 52-week high of $20.09.

Greene wrote:

“Infosys reported mixed 1QFY19 results with Q/Q revenue growth of 0.9% (2.3% in constant currency) to $2.83B (vs. our/Street’s $2.87/2.80B estimates), while margins positively surprised. EPS was $0.25 (vs. our/Street’s $0.25 estimates). INFY maintained its FY19 outlook, which calls for 6-8% CC revenue growth and 22-24% operating margins. Notably, Financial Services growth remained sluggish (contrasts with Tata), and fell 0.2% Q/Q in CC. NA and Europe Q/Q growth was solid at 2% in CC. Also, revenue productivity was stable Q/Q despite an increased skew of faster- growing digital services (now ~28% of revenues). 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 22.9% and a 86.7% 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 $17.58.

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Based on Infosys Limited’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $571 million. In comparison, last year the company had a net profit of $540 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.