Infosys (NYSE:INFY) Price Target Cut to $18.00 by Analysts at BMO Capital Markets

Infosys (NYSE:INFY) had its price objective dropped by equities research analysts at BMO Capital Markets from $21.00 to $18.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 7.14% from the company’s previous close.

INFY has been the topic of several other reports. Bank of America raised shares of Infosys from a “neutral” rating to a “buy” rating in a report on Tuesday, April 9th. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. JPMorgan Chase & Co. raised shares of Infosys from a “neutral” rating to an “overweight” rating in a report on Wednesday, January 3rd. Wedbush reissued an “outperform” rating and set a $22.00 price objective on shares of Infosys in a report on Wednesday, March 13th. Finally, HSBC reissued a “hold” rating and set a $20.10 price objective on shares of Infosys in a report on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.27.

Infosys Stock Up 1.8 %

Infosys stock traded up $0.29 during midday trading on Friday, reaching $16.80. The stock had a trading volume of 7,435,302 shares, compared to its average volume of 9,442,621. Infosys has a 52-week low of $14.71 and a 52-week high of $20.74. The firm has a market cap of $69.54 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 2.24 and a beta of 0.93. The company has a fifty day moving average of $18.87 and a 200 day moving average of $18.34.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, April 18th. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.49 billion. Infosys had a net margin of 15.91% and a return on equity of 31.25%. During the same period last year, the company posted $0.18 earnings per share. Equities research analysts predict that Infosys will post 0.7 EPS for the current year.

Institutional Investors Weigh In On Infosys

Institutional investors and hedge funds have recently made changes to their positions in the stock. Teacher Retirement System of Texas acquired a new stake in shares of Infosys during the third quarter worth $5,047,000. Vanguard Group Inc. lifted its position in Infosys by 2.3% during the third quarter. Vanguard Group Inc. now owns 8,143,005 shares of the technology company’s stock valued at $139,327,000 after purchasing an additional 180,888 shares during the period. Rhumbline Advisers lifted its position in Infosys by 3.0% during the third quarter. Rhumbline Advisers now owns 908,911 shares of the technology company’s stock valued at $15,551,000 after purchasing an additional 26,833 shares during the period. Baillie Gifford & Co. lifted its position in Infosys by 3.3% during the fourth quarter. Baillie Gifford & Co. now owns 3,190,513 shares of the technology company’s stock valued at $58,642,000 after purchasing an additional 102,273 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in Infosys by 39.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,744,741 shares of the technology company’s stock valued at $32,068,000 after purchasing an additional 491,350 shares during the period. 10.89% of the stock is currently owned by institutional investors and hedge funds.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.