Wedbush Boosts Infosys (NYSE:INFY) Price Target to $30.00

Infosys (NYSE:INFY) had its price target raised by Wedbush from $25.00 to $30.00 in a report released on Wednesday, The Fly reports. Wedbush also issued estimates for Infosys’ FY2022 earnings at $0.70 EPS, Q1 2023 earnings at $0.19 EPS, Q2 2023 earnings at $0.20 EPS, Q3 2023 earnings at $0.21 EPS and FY2023 earnings at $0.81 EPS.

INFY has been the subject of several other research reports. BMO Capital Markets raised their target price on Infosys from $23.00 to $25.00 and gave the stock a market perform rating in a research report on Thursday, October 14th. Susquehanna upgraded Infosys from a neutral rating to a positive rating and raised their target price for the stock from $22.00 to $29.00 in a research report on Monday, January 10th. Finally, Susquehanna Bancshares upgraded Infosys from a neutral rating to a positive rating and lifted their price objective for the company from $22.00 to $29.00 in a research report on Monday, January 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued 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 $24.97.

Shares of NYSE:INFY opened at $26.20 on Wednesday. Infosys has a 1-year low of $16.88 and a 1-year high of $26.39. The firm has a market capitalization of $111.13 billion, a PE ratio of 38.53, a PEG ratio of 3.60 and a beta of 0.89. The business’s 50 day moving average is $23.87 and its 200-day moving average is $23.04.

Infosys (NYSE:INFY) last posted its earnings results on Tuesday, January 11th. The technology company reported $0.18 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Infosys had a return on equity of 29.75% and a net margin of 18.59%. During the same quarter in the prior year, the firm posted $0.17 earnings per share. As a group, equities research analysts anticipate that Infosys will post 0.71 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the stock. Ballentine Partners LLC grew its stake in shares of Infosys by 2.7% during the third quarter. Ballentine Partners LLC now owns 17,071 shares of the technology company’s stock worth $380,000 after purchasing an additional 449 shares during the period. HBK Sorce Advisory LLC grew its stake in shares of Infosys by 5.0% during the second quarter. HBK Sorce Advisory LLC now owns 10,823 shares of the technology company’s stock worth $229,000 after purchasing an additional 511 shares during the period. Commonwealth Equity Services LLC grew its stake in Infosys by 1.0% in the second quarter. Commonwealth Equity Services LLC now owns 53,213 shares of the technology company’s stock valued at $1,127,000 after acquiring an additional 543 shares during the period. Lester Murray Antman dba SimplyRich grew its stake in Infosys by 1.6% in the third quarter. Lester Murray Antman dba SimplyRich now owns 36,615 shares of the technology company’s stock valued at $814,000 after acquiring an additional 572 shares during the period. Finally, Stokes Family Office LLC grew its stake in Infosys by 2.6% in the third quarter. Stokes Family Office LLC now owns 23,934 shares of the technology company’s stock valued at $533,000 after acquiring an additional 599 shares during the period. 15.75% of the stock is owned by institutional investors and hedge funds.

About Infosys

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, Services, Manufacturing, Hi-Tech, Life Sciences, and All Other.

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