Susquehanna cut shares of Infosys (NYSE:INFY – Get Rating) from a positive rating to a neutral rating in a report issued on Friday morning, Marketbeat reports. They currently have $20.00 price objective on the technology company’s stock, down from their previous price objective of $29.00.
INFY has been the subject of a number of other research reports. The Goldman Sachs Group downgraded shares of Infosys from a buy rating to a sell rating in a research note on Tuesday. Wedbush lowered their target price on shares of Infosys from $30.00 to $25.00 and set an outperform rating for the company in a research note on Monday, July 25th. HSBC upgraded shares of Infosys from a hold rating to a buy rating in a research note on Tuesday, May 31st. StockNews.com cut shares of Infosys from a buy rating to a hold rating in a research report on Friday, September 2nd. Finally, JPMorgan Chase & Co. lowered Infosys from an overweight rating to a neutral rating in a report on Monday, August 22nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $22.92.
Infosys Stock Down 2.3 %
NYSE:INFY opened at $17.38 on Friday. The company has a fifty day simple moving average of $19.04 and a two-hundred day simple moving average of $20.24. The company has a market cap of $73.11 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 2.51 and a beta of 0.97. Infosys has a 52 week low of $17.09 and a 52 week high of $26.39.
Infosys Increases Dividend
The firm also recently announced a Semi-Annual dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 1st were paid a dividend of $0.171 per share. This is an increase from Infosys’s previous Semi-Annual dividend of $0.14. The ex-dividend date was Tuesday, May 31st. Infosys’s dividend payout ratio is 49.28%.
Institutional Investors Weigh In On Infosys
Hedge funds have recently made changes to their positions in the business. Prospera Financial Services Inc acquired a new stake in shares of Infosys during the first quarter worth about $26,000. Professional Financial Advisors LLC boosted its stake in shares of Infosys by 160.1% during the first quarter. Professional Financial Advisors LLC now owns 1,056 shares of the technology company’s stock worth $26,000 after buying an additional 650 shares during the period. Schubert & Co acquired a new stake in shares of Infosys during the second quarter worth about $31,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Infosys during the fourth quarter worth about $50,000. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of Infosys during the fourth quarter worth about $52,000. Institutional investors and hedge funds own 13.01% of the company’s stock.
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 development and management, independent validation, product engineering and management, infrastructure management, enterprise application management, and support and integration services.
- Get a free copy of the StockNews.com research report on Infosys (INFY)
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