Infosys (NYSE:INFY) Price Target Cut to $12.00 by Analysts at Susquehanna

Infosys (NYSE:INFY) had its target price lowered by Susquehanna from $14.00 to $12.00 in a research report report published on Friday, MarketBeat.com reports. The firm currently has a neutral rating on the technology company’s stock.

Several other research firms have also recently weighed in on INFY. Weiss Ratings restated a “hold (c-)” rating on shares of Infosys in a research report on Monday, June 8th. JPMorgan Chase & Co. lowered their price objective on Infosys from $16.80 to $12.70 and set an “overweight” rating for the company in a research report on Wednesday, June 24th. Wells Fargo & Company set a $11.00 target price on shares of Infosys and gave the company an “equal weight” rating in a research report on Friday, June 26th. TD Cowen lowered their price target on shares of Infosys from $13.00 to $10.00 and set a “hold” rating for the company in a research report on Thursday. Finally, Stifel Nicolaus set a $15.00 price objective on shares of Infosys in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.75.

Infosys Stock Performance

Shares of NYSE:INFY opened at $10.95 on Friday. Infosys has a 52 week low of $10.34 and a 52 week high of $30.00. The company’s fifty day moving average is $11.84 and its 200-day moving average is $14.21. The company has a market capitalization of $44.29 billion, a PE ratio of 13.68, a P/E/G ratio of 1.45 and a beta of 0.90.

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

Hedge Funds Weigh In On Infosys

A number of institutional investors have recently added to or reduced their stakes in the stock. E. Ohman J or Asset Management AB lifted its stake in Infosys by 3.7% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 251,900 shares of the technology company’s stock valued at $2,642,000 after purchasing an additional 9,000 shares during the last quarter. Foster Group Inc. bought a new stake in shares of Infosys during the second quarter worth $127,000. Confluence Investment Management LLC grew its stake in shares of Infosys by 19.1% during the second quarter. Confluence Investment Management LLC now owns 17,636 shares of the technology company’s stock worth $185,000 after buying an additional 2,826 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in shares of Infosys by 17.8% during the first quarter. Glenmede Trust Co. NA now owns 21,055 shares of the technology company’s stock worth $284,000 after buying an additional 3,179 shares in the last quarter. Finally, Ariadne Wealth Management LP bought a new position in shares of Infosys in the 1st quarter valued at $257,000. 16.20% of the stock is currently owned by institutional investors and hedge funds.

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.