TD Cowen Issues Pessimistic Forecast for Infosys (NYSE:INFY) Stock Price

Infosys (NYSE:INFY) had its price objective lowered by equities researchers at TD Cowen from $13.00 to $10.00 in a report released on Thursday,Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. TD Cowen’s price objective would indicate a potential downside of 8.63% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. Wells Fargo & Company set a $11.00 price objective on shares of Infosys and gave the stock an “equal weight” rating in a research note on Friday, June 26th. Susquehanna lowered their price target on Infosys from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. BMO Capital Markets dropped their price objective on Infosys from $20.00 to $15.00 and set a “market perform” rating on the stock in a research note on Friday, April 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Infosys in a research report on Monday, June 8th. Finally, Stifel Nicolaus set a $15.00 target price on Infosys in a research note on Thursday, April 23rd. 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 presently has an average rating of “Hold” and an average target price of $12.75.

Infosys Trading Down 1.7%

NYSE INFY opened at $10.95 on Thursday. The company has a market cap of $44.29 billion, a PE ratio of 13.68, a PEG ratio of 1.45 and a beta of 0.90. Infosys has a 12 month low of $10.34 and a 12 month high of $30.00. The stock has a 50 day moving average of $11.84 and a 200-day moving average of $14.21.

Infosys (NYSE:INFY) last issued its 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 business had revenue of $5.04 billion for the quarter. As a group, sell-side analysts predict that Infosys will post 0.83 EPS for the current fiscal year.

Institutional Trading of Infosys

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