Infosys (NYSE:INFY) Price Target Lowered to $18.00 at BMO Capital Markets

Infosys (NYSE:INFY) had its price objective decreased by BMO Capital Markets from $25.00 to $18.00 in a research report released on Monday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the technology company’s stock.

Several other brokerages also recently issued reports on INFY. CLSA raised shares of Infosys from a “hold” rating to an “outperform” rating in a research report on Friday, March 7th. Susquehanna upgraded Infosys from a “negative” rating to a “neutral” rating and set a $17.00 price objective for the company in a research note on Monday, April 14th. Investec raised Infosys from a “sell” rating to a “buy” rating in a research report on Friday. StockNews.com cut Infosys from a “buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Finally, Stifel Nicolaus cut their price target on shares of Infosys from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Monday. Seven analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.48.

Infosys Stock Performance

Infosys stock opened at $16.62 on Monday. Infosys has a 1 year low of $15.82 and a 1 year high of $23.63. The firm has a 50 day moving average price of $18.75 and a 200 day moving average price of $21.04. The company has a market cap of $68.84 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 3.50 and a beta of 0.97.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, April 17th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Infosys had a return on equity of 31.60% and a net margin of 17.28%. The business had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $420.69 billion. During the same quarter in the previous year, the business earned $0.23 EPS. Sell-side analysts predict that Infosys will post 0.74 EPS for the current year.

Hedge Funds Weigh In On Infosys

A number of hedge funds have recently added to or reduced their stakes in the business. Advisory Resource Group raised its stake in Infosys by 16.3% during the first quarter. Advisory Resource Group now owns 58,829 shares of the technology company’s stock worth $1,074,000 after acquiring an additional 8,244 shares during the period. Trivant Custom Portfolio Group LLC acquired a new position in Infosys in the first quarter valued at approximately $936,000. Matthews International Capital Management LLC raised its position in shares of Infosys by 30.0% during the 1st quarter. Matthews International Capital Management LLC now owns 346,180 shares of the technology company’s stock worth $6,318,000 after purchasing an additional 79,910 shares during the period. Rakuten Securities Inc. raised its stake in Infosys by 308.4% during the 1st quarter. Rakuten Securities Inc. now owns 1,413 shares of the technology company’s stock valued at $26,000 after acquiring an additional 1,067 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG lifted its stake in shares of Infosys by 48.8% in the 1st quarter. Bank Pictet & Cie Europe AG now owns 26,566 shares of the technology company’s stock worth $485,000 after acquiring an additional 8,716 shares during the period. Institutional investors and hedge funds 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.