Infosys (NYSE:INFY) Price Target Cut to $14.00

Infosys (NYSE:INFY) had its price objective reduced by Susquehanna from $15.00 to $14.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “negative” rating on the technology company’s stock. Susquehanna’s price target would indicate a potential downside of 15.23% from the company’s current price.

INFY has been the topic of a number of other reports. Guggenheim began coverage on shares of Infosys in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $20.00 price target on the stock. Bank of America upgraded shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. upgraded shares of Infosys from a “neutral” rating to an “overweight” rating in a research report on Wednesday, January 3rd. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Wedbush restated an “outperform” rating and issued a $22.00 price target on shares of Infosys in a research report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $19.70.

Infosys Stock Down 2.6 %

NYSE INFY opened at $16.52 on Friday. The stock has a market cap of $68.36 billion, a P/E ratio of 23.26, a PEG ratio of 2.24 and a beta of 0.93. The company’s 50-day simple moving average is $18.87 and its 200 day simple moving average is $18.34. Infosys has a twelve month low of $14.71 and a twelve month high of $20.74.

Infosys (NYSE:INFY) last posted its earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Infosys had a net margin of 15.91% and a return on equity of 31.25%. During the same period in the previous year, the company earned $0.18 EPS. Research analysts anticipate that Infosys will post 0.7 earnings per share for the current year.

Hedge Funds Weigh In On Infosys

A number of large investors have recently modified their holdings of INFY. Sivia Capital Partners LLC lifted its holdings in Infosys by 8.9% in the first quarter. Sivia Capital Partners LLC now owns 24,571 shares of the technology company’s stock valued at $441,000 after buying an additional 2,008 shares during the period. Naviter Wealth LLC lifted its holdings in Infosys by 13.5% in the first quarter. Naviter Wealth LLC now owns 75,779 shares of the technology company’s stock valued at $1,359,000 after buying an additional 9,027 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in Infosys by 8.6% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 342,755 shares of the technology company’s stock valued at $6,146,000 after buying an additional 27,056 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Infosys by 6.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,857,531 shares of the technology company’s stock valued at $33,306,000 after buying an additional 112,790 shares during the period. Finally, Kathmere Capital Management LLC lifted its holdings in Infosys by 12.7% in the first quarter. Kathmere Capital Management LLC now owns 34,531 shares of the technology company’s stock valued at $619,000 after buying an additional 3,898 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.