Infosys (NYSE:INFY) Price Target Cut to $17.00 by Analysts at Stifel Nicolaus

Infosys (NYSE:INFY) had its price objective reduced by Stifel Nicolaus from $18.00 to $17.00 in a report published on Monday morning,Benzinga reports. They currently have a hold rating on the technology company’s stock.

A number of other brokerages also recently commented on INFY. Investec upgraded Infosys from a “sell” rating to a “buy” rating in a report on Friday. StockNews.com cut shares of Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, April 15th. CLSA raised Infosys from a “hold” rating to an “outperform” rating in a research report on Friday, March 7th. The Goldman Sachs Group cut Infosys from a “buy” rating to a “neutral” rating and set a $17.90 target price for the company. in a research note on Monday. Finally, Guggenheim reissued a “neutral” rating on shares of Infosys in a research report on Friday, January 17th. Seven analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.48.

Infosys Stock Performance

Shares of Infosys stock opened at $16.62 on Monday. The company’s 50 day moving average price is $18.75 and its 200-day moving average price is $21.04. Infosys has a 52-week low of $15.82 and a 52-week high of $23.63. The stock has a market capitalization of $68.84 billion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 3.50 and a beta of 0.97.

Infosys (NYSE:INFY) last released its quarterly earnings data on Thursday, April 17th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $420.69 billion. Infosys had a net margin of 17.28% and a return on equity of 31.60%. During the same quarter in the previous year, the company earned $0.23 earnings per share. As a group, equities research analysts forecast that Infosys will post 0.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Infosys

Several hedge funds and other institutional investors have recently made changes to their positions in the business. MML Investors Services LLC increased its holdings in Infosys by 27.6% during the third quarter. MML Investors Services LLC now owns 19,685 shares of the technology company’s stock valued at $438,000 after buying an additional 4,261 shares during the last quarter. Barclays PLC increased its stake in shares of Infosys by 11.8% in the 3rd quarter. Barclays PLC now owns 2,523,605 shares of the technology company’s stock worth $56,200,000 after purchasing an additional 266,902 shares in the last quarter. Tudor Financial Inc. bought a new position in Infosys in the 3rd quarter worth $496,000. Wilmington Savings Fund Society FSB purchased a new position in Infosys during the third quarter valued at $57,000. Finally, Tidal Investments LLC grew its holdings in Infosys by 31.6% during the third quarter. Tidal Investments LLC now owns 42,315 shares of the technology company’s stock valued at $942,000 after purchasing an additional 10,149 shares during the period. Hedge funds and other institutional investors own 16.20% of the company’s stock.

Infosys Company Profile

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