Infosys Ltd. (NYSE:INFY) Given Consensus Recommendation of “Reduce” by Brokerages

Infosys Ltd. (NYSE:INFY) has been assigned a consensus rating of “Reduce” from the ten brokerages that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and eight have given a hold recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $11.6311.

Several brokerages have recently issued reports on INFY. Stifel Nicolaus set a $13.00 price objective on Infosys and gave the company a “hold” rating in a research note on Thursday, July 16th. TD Cowen restated a “hold” rating and set a $9.00 target price (down from $10.00) on shares of Infosys in a research note on Friday, July 24th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $10.90 target price (down from $12.70) on shares of Infosys in a report on Friday, July 24th. Weiss Ratings downgraded shares of Infosys from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. Finally, Susquehanna lowered their price target on shares of Infosys from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Friday, July 24th.

Infosys Trading Down 5.0%

Shares of NYSE INFY opened at $11.96 on Friday. The stock has a market cap of $48.42 billion, a P/E ratio of 14.77, a PEG ratio of 2.94 and a beta of 0.90. The business’s fifty day simple moving average is $11.58 and its 200-day simple moving average is $13.51. Infosys has a 12-month low of $10.30 and a 12-month high of $30.00.

Infosys (NYSE:INFY) last released its earnings results on Thursday, July 23rd. The technology company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). Infosys had a return on equity of 33.91% and a net margin of 16.38%.The company had revenue of $4.99 billion for the quarter, compared to analyst estimates of $5.08 billion. On average, equities analysts forecast that Infosys will post 0.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Infosys

A number of institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Infosys by 6.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,155 shares of the technology company’s stock valued at $1,153,000 after buying an additional 3,804 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Infosys by 79.9% during the 1st quarter. NewEdge Advisors LLC now owns 54,978 shares of the technology company’s stock worth $1,003,000 after acquiring an additional 24,426 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Infosys in the 1st quarter valued at about $239,000. Trinity Street Asset Management LLP increased its holdings in shares of 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 acquiring an additional 4,674,742 shares during the last quarter. Finally, Deltec Asset Management LLC raised its position in shares of Infosys by 13.6% during the 1st quarter. Deltec Asset Management LLC now owns 58,500 shares of the technology company’s stock worth $790,000 after acquiring an additional 7,000 shares in the last quarter. Institutional investors and hedge funds 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.