Infosys Technologies Ltd (INFY) Posts Quarterly Earnings Results, Misses Estimates By $0.28 EPS
Tuesday, July 12, 2021 9:31 AM

Infosys Technologies Ltd (INFY) announced its quarterly results on Tuesday. The company reported $30.14 earnings per share for the quarter, missing the Thomson Reuters consensus estimate of $30.42 by $0.28. The company’s quarterly revenue was up 20.8% on a year-over-year basis.

On a related note, analysts at Credit Suisse (NYSE: CS) downgraded shares of Infosys Technologies Ltd from an "outperform" rating to a "neutral" rating in a research note to investors on Monday, April 18th. Also, analysts at Robert W. Baird initiated coverage on shares of Infosys Technologies Ltd in a research note to investors on Tuesday, March 15th. They set a "neutral" rating and a $75.00 price target on the stock.

Shares of Infosys Technologies Ltd (INFY) opened at 65.10 on Tuesday. Infosys Technologies Ltd (INFY) has a 52 week low of $56.73 and a 52 week high of $77.92. The stock's 50-day moving average is $63.38 and its 200-day moving average is $67.46. The company has a market cap of $37.193 billion and a price-to-earnings ratio of 24.85.

Infosys Technologies Limited (Infosys) is a global technology services company. The Company provides end-to-end business solutions. In addition, the Company offers software products for the banking industry and business process management services. On December 4, 2009, Infosys BPO Limited acquired 100% interest in McCamish Systems LLC (McCamish), a business process solutions provider based in Atlanta, Georgia, in the United States. During the fiscal year ended March 31, 2010, the Company incorporated a wholly owned subsidiary, Infosys Technologies (Sweden) AB. On August 7, 2009, the Company incorporated a wholly owned subsidiary, Infosys Tecnologia DO Brasil LTDA. On August 19, 2009, Infosys Consulting, Inc. (Infosys Consulting) incorporated a wholly owned subsidiary, Infosys Consulting India Limited. On October 9, 2009, it incorporated a wholly owned subsidiary, Infosys Public Services, Inc. In July 2010, Infosys shut down its Bangkok back-office operations.

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