JPMorgan Chase & Co. Begins Coverage on Infosys (NYSE:INFY)

JPMorgan Chase & Co. initiated coverage on shares of Infosys (NYSE:INFY – Get Rating) in a research note published on Tuesday morning, The Fly reports. The firm issued an underweight rating and a $14.00 price target on the technology company’s stock.

A number of other brokerages have also commented on INFY. Macquarie lowered shares of Infosys from an outperform rating to a neutral rating in a report on Sunday, April 16th. BMO Capital Markets decreased their price objective on shares of Infosys from $21.00 to $18.00 and set a market perform rating on the stock in a report on Friday, April 14th. Credit Suisse Group lowered shares of Infosys from an outperform rating to a neutral rating in a report on Friday, April 14th. Citigroup lowered shares of Infosys from a buy rating to a neutral rating in a report on Thursday, April 13th. Finally, Wedbush reduced their target price on shares of Infosys from $25.00 to $22.00 and set an outperform rating on the stock in a research note on Monday, March 13th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $18.57.

Infosys Stock Performance

Shares of INFY stock opened at $15.66 on Tuesday. Infosys has a 52-week low of $14.71 and a 52-week high of $20.60. The stock has a market cap of $64.78 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 2.04 and a beta of 0.99. The firm has a fifty day moving average of $15.94 and a 200-day moving average of $17.73.

Infosys (NYSE:INFY – Get Rating) last announced its earnings results on Thursday, April 13th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The firm had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.73 billion. Infosys had a return on equity of 31.78% and a net margin of 16.37%. During the same quarter last year, the business earned $0.18 EPS. On average, sell-side analysts predict that Infosys will post 0.76 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of INFY. Raymond James Financial Services Advisors Inc. boosted its stake in Infosys by 4.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,735 shares of the technology company’s stock worth $417,000 after acquiring an additional 652 shares during the last quarter. Cibc World Market Inc. raised its holdings in Infosys by 39.8% during the 1st quarter. Cibc World Market Inc. now owns 157,264 shares of the technology company’s stock worth $3,914,000 after buying an additional 44,768 shares during the period. Blair William & Co. IL acquired a new stake in Infosys during the 1st quarter worth approximately $465,000. Canada Pension Plan Investment Board raised its holdings in Infosys by 108.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,017,100 shares of the technology company’s stock worth $25,315,000 after buying an additional 528,900 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in Infosys by 1.6% during the 1st quarter. Allianz Asset Management GmbH now owns 1,051,193 shares of the technology company’s stock worth $26,164,000 after buying an additional 16,102 shares during the period. Institutional investors own 12.68% of the company’s stock.

About Infosys

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Infosys Ltd. is a digital services and consulting company, which engages in the provision of end-to-end business solutions. It operates through the following segments: Financial Services, Retail, Communication, Energy, Utilities, Resources, and Services, Manufacturing, Hi-Tech, Life Sciences, and All Other.