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

Infosys (NYSE:INFY) had its price objective reduced by equities researchers at Susquehanna from $15.00 to $14.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “negative” rating on the technology company’s stock. Susquehanna’s target price points to a potential downside of 16.72% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. StockNews.com downgraded shares of Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. UBS Group raised shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 3rd. Guggenheim started coverage on shares of Infosys in a research report on Tuesday, March 19th. They set a “neutral” rating and a $20.00 target price for the company. JPMorgan Chase & Co. raised shares of Infosys from a “neutral” rating to an “overweight” rating in a research report on Wednesday, January 3rd. Finally, Bank of America raised shares of Infosys from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.27.

Infosys Price Performance

Shares of NYSE:INFY opened at $16.81 on Friday. Infosys has a 1 year low of $14.71 and a 1 year high of $20.74. The company has a market capitalization of $69.58 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 2.18 and a beta of 0.93. The business has a fifty day moving average price of $18.80 and a two-hundred day moving average price of $18.34.

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

Hedge Funds Weigh In On Infosys

Several hedge funds have recently bought and sold shares of the company. FWL Investment Management LLC purchased a new position in shares of Infosys during the 4th quarter valued at $27,000. GAMMA Investing LLC bought a new stake in Infosys during the fourth quarter valued at $36,000. Planned Solutions Inc. purchased a new position in Infosys during the fourth quarter worth about $50,000. JFS Wealth Advisors LLC increased its stake in Infosys by 88.3% in the 3rd quarter. JFS Wealth Advisors LLC now owns 2,945 shares of the technology company’s stock worth $50,000 after acquiring an additional 1,381 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake 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.