Infosys (NYSE:INFY) Price Target Cut to $17.00 by Analysts at Stifel Nicolaus

Infosys (NYSE:INFY) had its price objective cut by research analysts at Stifel Nicolaus from $18.00 to $17.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 2.45% from the stock’s current price.

Several other research analysts have also issued reports on the company. Guggenheim reaffirmed a “neutral” rating on shares of Infosys in a research report on Friday, January 17th. CLSA upgraded shares of Infosys from a “hold” rating to an “outperform” rating in a report on Friday, March 7th. Susquehanna upgraded shares of Infosys from a “negative” rating to a “neutral” rating and set a $17.00 price target on the stock in a research note on Monday, April 14th. Investec upgraded shares of Infosys from a “sell” rating to a “buy” rating in a research note on Friday. Finally, StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.48.

Infosys Trading Up 2.8 %

Shares of NYSE:INFY traded up $0.45 on Monday, reaching $16.59. The company had a trading volume of 7,131,902 shares, compared to its average volume of 9,628,841. The firm has a market capitalization of $68.73 billion, a PE ratio of 21.00, a PEG ratio of 3.50 and a beta of 0.97. Infosys has a 52-week low of $15.82 and a 52-week high of $23.63. The firm’s 50 day simple moving average is $18.85 and its 200-day simple moving average is $21.09.

Infosys (NYSE:INFY) last released its quarterly earnings results on Thursday, April 17th. The technology company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $420.69 billion. Infosys had a net margin of 17.28% and a return on equity of 31.60%. During the same period in the prior year, the firm posted $0.23 earnings per share. As a group, equities research analysts predict that Infosys will post 0.74 earnings per share for the current year.

Hedge Funds Weigh In On Infosys

A number of institutional investors have recently modified their holdings of INFY. Rakuten Securities Inc. boosted its stake in shares of Infosys by 308.4% in the first quarter. Rakuten Securities Inc. now owns 1,413 shares of the technology company’s stock worth $26,000 after buying an additional 1,067 shares during the last quarter. Sierra Ocean LLC purchased a new position in Infosys during the fourth quarter valued at approximately $29,000. Brooklyn Investment Group acquired a new position in Infosys in the fourth quarter valued at approximately $52,000. Wilmington Savings Fund Society FSB purchased a new stake in Infosys in the 3rd quarter worth approximately $57,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Infosys by 69.7% during the 4th quarter. Farther Finance Advisors LLC now owns 3,115 shares of the technology company’s stock valued at $68,000 after purchasing an additional 1,279 shares in the last quarter. Hedge funds and other institutional investors 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.