Infosys (NYSE:INFY) Given New $18.00 Price Target at BMO Capital Markets

Infosys (NYSE:INFY) had its target price reduced by BMO Capital Markets from $21.00 to $18.00 in a report published on Friday morning, Benzinga reports. They currently have a market perform rating on the technology company’s stock.

A number of other brokerages have also issued reports on INFY. UBS Group raised Infosys from a neutral rating to a buy rating in a research note on Wednesday, January 3rd. Bank of America raised Infosys from a neutral rating to a buy rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. raised Infosys from a neutral rating to an overweight rating in a research note on Wednesday, January 3rd. BNP Paribas started coverage on Infosys in a research note on Wednesday, January 17th. They set an outperform rating and a $24.00 price objective on the stock. Finally, StockNews.com lowered Infosys from a buy rating to a hold rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $19.27.

Infosys Price Performance

Shares of NYSE:INFY opened at $16.81 on Friday. The business’s 50 day moving average price is $18.80 and its 200-day moving average price is $18.34. The firm has a market capitalization of $69.58 billion, a PE ratio of 22.12, a P/E/G ratio of 2.18 and a beta of 0.93. Infosys has a 1 year low of $14.71 and a 1 year high of $20.74.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.49 billion. Infosys had a return on equity of 33.26% and a net margin of 17.06%. During the same period in the previous year, the company posted $0.18 earnings per share. As a group, analysts expect that Infosys will post 0.76 earnings per share for the current year.

Institutional Investors Weigh In On Infosys

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INFY. First Trust Advisors LP raised its holdings in shares of Infosys by 3.6% in the 4th quarter. First Trust Advisors LP now owns 25,209,033 shares of the technology company’s stock valued at $463,342,000 after buying an additional 884,833 shares during the period. FMR LLC raised its holdings in shares of Infosys by 15.2% in the 3rd quarter. FMR LLC now owns 24,819,637 shares of the technology company’s stock valued at $424,664,000 after buying an additional 3,275,485 shares during the period. State Street Corp raised its holdings in shares of Infosys by 9.2% in the 1st quarter. State Street Corp now owns 20,400,397 shares of the technology company’s stock valued at $355,709,000 after buying an additional 1,722,731 shares during the period. FIL Ltd raised its holdings in shares of Infosys by 5.9% in the 4th quarter. FIL Ltd now owns 18,459,935 shares of the technology company’s stock valued at $339,294,000 after buying an additional 1,031,371 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Infosys by 11.8% in the 1st quarter. BlackRock Inc. now owns 17,115,250 shares of the technology company’s stock valued at $298,490,000 after buying an additional 1,810,239 shares during the period. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides application management and application development services, independent validation solutions, product engineering and management, infrastructure management services, traditional enterprise application implementation, support, and integration services.