Infosys Ltd. (NYSE:INFY) Receives Average Rating of “Reduce” from Analysts

Infosys Ltd. (NYSE:INFY) has been assigned an average rating of “Reduce” from the seven research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $14.2183.

Several analysts have weighed in on the stock. BMO Capital Markets dropped their price objective on shares of Infosys from $20.00 to $15.00 and set a “market perform” rating for the company in a research note on Friday, April 24th. Stifel Nicolaus set a $15.00 price objective on shares of Infosys in a research note on Thursday, April 23rd. Jefferies Financial Group cut shares of Infosys from a “buy” rating to a “hold” rating and set a $14.31 price objective for the company. in a research note on Monday, February 23rd. TD Cowen dropped their price objective on shares of Infosys from $16.00 to $15.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Finally, Susquehanna dropped their price objective on shares of Infosys from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, April 24th.

Infosys Stock Down 4.5%

Shares of Infosys stock opened at $12.49 on Thursday. Infosys has a twelve month low of $11.56 and a twelve month high of $30.00. The company has a 50-day simple moving average of $13.04 and a two-hundred day simple moving average of $15.41. The stock has a market capitalization of $50.55 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.70 and a beta of 0.89.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Wednesday, April 1st. The technology company reported $0.23 earnings per share for the quarter. Infosys had a net margin of 16.44% and a return on equity of 32.64%. The business had revenue of $5.04 billion during the quarter. On average, sell-side analysts anticipate that Infosys will post 0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Infosys

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Glenmede Trust Co. NA raised its position in shares of Infosys by 17.8% in the 1st quarter. Glenmede Trust Co. NA now owns 21,055 shares of the technology company’s stock valued at $284,000 after buying an additional 3,179 shares in the last quarter. Ariadne Wealth Management LP acquired a new position in shares of Infosys in the 1st quarter valued at approximately $257,000. Bank of America Corp DE raised its position in shares of Infosys by 7.4% in the 1st quarter. Bank of America Corp DE now owns 6,790,666 shares of the technology company’s stock valued at $91,742,000 after buying an additional 469,843 shares in the last quarter. Arkadios Wealth Advisors raised its position in shares of Infosys by 117.4% in the 1st quarter. Arkadios Wealth Advisors now owns 39,633 shares of the technology company’s stock valued at $535,000 after buying an additional 21,404 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Infosys by 31.9% in the 1st quarter. Royal Bank of Canada now owns 1,156,539 shares of the technology company’s stock valued at $15,625,000 after buying an additional 279,954 shares in the last quarter. 16.20% of the stock is currently owned by institutional investors and hedge funds.

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. The company was founded by Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Raghavan N. S., Ashok Arora, Nandan M. Nilekani, and S. D. Shibulal on July 2, 1981 and is headquartered in Bangalore, India.