Analysts Set Infosys Ltd. (NYSE:INFY) Target Price at $11.59

Infosys Ltd. (NYSE:INFY) has been given an average rating of “Reduce” by the ten brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and nine have assigned a hold recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $11.5850.

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $10.90 target price (down from $12.70) on shares of Infosys in a report on Friday, July 24th. HSBC set a $11.47 price objective on Infosys and gave the company a “hold” rating in a research report on Friday, July 24th. Wells Fargo & Company set a $11.00 price objective on Infosys and gave the company an “equal weight” rating in a research note on Friday, June 26th. Stifel Nicolaus set a $13.00 target price on Infosys and gave the stock a “hold” rating in a report on Thursday, July 16th. Finally, Susquehanna cut their target price on Infosys from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, July 24th.

Institutional Trading of Infosys

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its position in Infosys by 7.4% in the 1st quarter. Bank of America Corp DE now owns 6,790,666 shares of the technology company’s stock worth $91,742,000 after buying an additional 469,843 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Infosys by 17.0% during the 1st quarter. Lazard Asset Management LLC now owns 26,776,494 shares of the technology company’s stock valued at $361,750,000 after acquiring an additional 3,893,801 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Infosys by 8.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,490,358 shares of the technology company’s stock worth $87,685,000 after acquiring an additional 521,169 shares during the period. Weiss Asset Management LP purchased a new position in shares of Infosys during the first quarter valued at approximately $10,708,000. Finally, Royal Bank of Canada raised its holdings in shares of Infosys by 31.9% during the first quarter. Royal Bank of Canada now owns 1,156,539 shares of the technology company’s stock valued at $15,625,000 after purchasing an additional 279,954 shares during the last quarter. 16.20% of the stock is owned by hedge funds and other institutional investors.

Infosys Price Performance

NYSE:INFY opened at $10.81 on Friday. The firm’s 50-day moving average price is $11.74 and its 200-day moving average price is $12.33. The company has a market capitalization of $43.80 billion, a PE ratio of 13.35, a P/E/G ratio of 2.58 and a beta of 0.87. Infosys has a 1-year low of $10.30 and a 1-year high of $30.00.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). The business had revenue of $4.99 billion for the quarter, compared to analysts’ expectations of $5.08 billion. Infosys had a net margin of 16.38% and a return on equity of 33.91%. Equities analysts anticipate that Infosys will post 0.81 EPS for the current fiscal year.

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.