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

Infosys (NYSE:INFY) had its target price reduced by Susquehanna from $15.00 to $14.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a negative rating on the technology company’s stock.

INFY has been the subject of a number of other reports. UBS Group raised Infosys from a neutral rating to a buy rating in a research note on Wednesday, January 3rd. Guggenheim initiated coverage on Infosys in a research note on Tuesday, March 19th. They set a neutral rating and a $20.00 target price on the stock. StockNews.com downgraded Infosys from a buy rating to a hold rating in a research note on Tuesday, March 19th. BNP Paribas initiated coverage on Infosys in a research note on Wednesday, January 17th. They set an outperform rating and a $24.00 target price on the stock. Finally, JPMorgan Chase & Co. upgraded Infosys from a neutral rating to an overweight rating in a research note on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Infosys has a consensus rating of Hold and an average price target of $19.27.

Infosys Stock Performance

Shares of Infosys stock opened at $16.81 on Friday. The stock has a market cap of $69.58 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 2.22 and a beta of 0.93. The stock has a 50 day moving average price of $18.80 and a 200-day moving average price of $18.35. Infosys has a one year low of $14.71 and a one year high of $20.74.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Infosys had a return on equity of 33.26% and a net margin of 17.06%. The firm had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.49 billion. During the same period last year, the company earned $0.18 EPS. Sell-side analysts predict that Infosys will post 0.76 earnings per share for the current fiscal year.

Institutional Trading of Infosys

Large investors have recently added to or reduced their stakes in the company. FWL Investment Management LLC purchased a new stake in Infosys during the 4th quarter valued at about $27,000. GAMMA Investing LLC purchased a new stake in Infosys during the 4th quarter valued at about $36,000. Planned Solutions Inc. acquired a new position in shares of Infosys in the 4th quarter valued at about $50,000. JFS Wealth Advisors LLC lifted its holdings in shares of Infosys by 88.3% in the 3rd quarter. JFS Wealth Advisors LLC now owns 2,945 shares of the technology company’s stock valued at $50,000 after buying an additional 1,381 shares during the period. Finally, Jones Financial Companies Lllp acquired a new position in shares of Infosys in the 4th quarter valued at about $56,000. Hedge funds and other institutional investors own 10.89% of the company’s stock.

About Infosys

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.