Infosys (NYSE:INFY) Price Target Cut to $10.00 by Analysts at TD Cowen

Infosys (NYSE:INFY) had its price objective reduced by TD Cowen from $13.00 to $10.00 in a research note published on Thursday morning,Benzinga reports. They currently have a hold rating on the technology company’s stock.

Several other brokerages have also recently issued reports on INFY. Stifel Nicolaus set a $15.00 target price on shares of Infosys in a research report on Thursday, April 23rd. BMO Capital Markets dropped their price target on Infosys from $20.00 to $15.00 and set a “market perform” rating for the company in a research report on Friday, April 24th. Susquehanna reduced their price objective on Infosys from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. JPMorgan Chase & Co. decreased their price objective on Infosys from $16.80 to $12.70 and set an “overweight” rating on the stock in a research report on Wednesday, June 24th. Finally, Wells Fargo & Company set a $11.00 target price on Infosys and gave the stock an “equal weight” rating in a report on Friday, June 26th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Infosys has a consensus rating of “Hold” and a consensus price target of $13.00.

Infosys Stock Performance

NYSE INFY opened at $11.12 on Thursday. The company has a market capitalization of $45.00 billion, a P/E ratio of 13.90, a P/E/G ratio of 1.42 and a beta of 0.90. Infosys has a one year low of $10.34 and a one year high of $30.00. The stock has a 50 day moving average price of $11.87 and a 200-day moving average price of $14.24.

Infosys (NYSE:INFY) last announced its quarterly earnings results 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 company had revenue of $5.04 billion for the quarter. As a group, equities analysts predict that Infosys will post 0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Infosys

A number of large investors have recently bought and sold shares of INFY. Trinity Street Asset Management LLP increased its stake in Infosys by 45.5% in the first quarter. Trinity Street Asset Management LLP now owns 14,938,546 shares of the technology company’s stock worth $201,820,000 after purchasing an additional 4,674,742 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Infosys by 17.0% during the first quarter. Lazard Asset Management LLC now owns 26,776,494 shares of the technology company’s stock valued at $361,750,000 after purchasing an additional 3,893,801 shares during the period. Hudson Edge Investment Partners Inc. grew its holdings in shares of Infosys by 56.5% in the first quarter. Hudson Edge Investment Partners Inc. now owns 4,452,990 shares of the technology company’s stock worth $60,160,000 after purchasing an additional 1,607,300 shares during the last quarter. Weiss Asset Management LP bought a new position in shares of Infosys in the first quarter worth about $10,708,000. Finally, Bessemer Group Inc. increased its stake in Infosys by 49.3% in the 1st quarter. Bessemer Group Inc. now owns 1,720,708 shares of the technology company’s stock worth $23,248,000 after buying an additional 568,573 shares during the period. Hedge funds and other institutional investors own 16.20% of the company’s stock.

About Infosys

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.