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

Infosys (NYSE:INFY) had its price objective lowered by stock analysts at BMO Capital Markets from $21.00 to $18.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ price target indicates a potential upside of 7.14% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. HSBC reiterated a “hold” rating and set a $20.10 price objective on shares of Infosys in a report on Friday. UBS Group upgraded Infosys from a “neutral” rating to a “buy” rating in a report on Wednesday, January 3rd. JPMorgan Chase & Co. upgraded Infosys from a “neutral” rating to an “overweight” rating in a report on Wednesday, January 3rd. Bank of America upgraded Infosys from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 9th. Finally, BNP Paribas began coverage on Infosys in a research note on Wednesday, January 17th. They issued an “outperform” rating and a $24.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $19.27.

Infosys Stock Performance

NYSE:INFY traded up $0.29 during mid-day trading on Friday, hitting $16.80. The company had a trading volume of 7,435,302 shares, compared to its average volume of 9,442,621. Infosys has a fifty-two week low of $14.71 and a fifty-two week high of $20.74. The business’s fifty day moving average is $18.87 and its two-hundred day moving average is $18.34. The firm has a market cap of $69.54 billion, a P/E ratio of 23.68, a P/E/G ratio of 2.24 and a beta of 0.93.

Infosys (NYSE:INFY) last announced its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. Infosys had a return on equity of 31.25% and a net margin of 15.91%. The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same period in the prior year, the company earned $0.18 earnings per share. Equities analysts forecast that Infosys will post 0.7 earnings per share for the current year.

Institutional Trading of Infosys

A number of hedge funds have recently made changes to their positions in INFY. Canada Pension Plan Investment Board acquired a new stake in shares of Infosys in the third quarter valued at approximately $158,356,000. State Street Corp lifted its holdings in Infosys by 34.6% during the 1st quarter. State Street Corp now owns 19,989,499 shares of the technology company’s stock worth $497,539,000 after purchasing an additional 5,143,124 shares during the last quarter. Aikya Investment Management Ltd acquired a new stake in Infosys during the 4th quarter worth approximately $71,409,000. FMR LLC lifted its holdings in Infosys by 15.2% during the 3rd quarter. FMR LLC now owns 24,819,637 shares of the technology company’s stock worth $424,664,000 after purchasing an additional 3,275,485 shares during the last quarter. Finally, Value Partners Investments Inc. lifted its holdings in Infosys by 857.8% during the 3rd quarter. Value Partners Investments Inc. now owns 2,701,000 shares of the technology company’s stock worth $46,214,000 after purchasing an additional 2,419,000 shares during the last quarter. 10.89% of the stock is owned by institutional investors and hedge funds.

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.