BMO Capital Markets Cuts Infosys (NYSE:INFY) Price Target to $18.00

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

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. upgraded Infosys from a neutral rating to an overweight rating in a research note on Wednesday, January 3rd. Susquehanna reduced their price objective on Infosys from $15.00 to $14.00 and set a negative rating for the company in a research note on Friday. StockNews.com lowered Infosys from a buy rating to a hold rating in a research report on Tuesday, March 19th. UBS Group raised shares of Infosys from a neutral rating to a buy rating in a research report on Wednesday, January 3rd. Finally, BNP Paribas assumed coverage on shares of Infosys in a report on Wednesday, January 17th. They set an outperform rating and a $24.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Infosys has a consensus rating of Hold and a consensus price target of $19.27.

Infosys Stock Performance

Shares of INFY opened at $16.81 on Friday. The firm has a market cap of $69.58 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 2.22 and a beta of 0.93. Infosys has a 52-week low of $14.71 and a 52-week high of $20.74. The business’s 50 day moving average price is $18.80 and its two-hundred day moving average price is $18.35.

Infosys (NYSE:INFY) last released its earnings results on Thursday, April 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.49 billion. Infosys had a net margin of 17.06% and a return on equity of 33.26%. During the same quarter in the previous year, the company earned $0.18 EPS. Research analysts predict that Infosys will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in INFY. Buckingham Capital Management Inc. grew its holdings in shares of Infosys by 0.6% in the fourth quarter. Buckingham Capital Management Inc. now owns 87,324 shares of the technology company’s stock valued at $1,605,000 after acquiring an additional 499 shares in the last quarter. HB Wealth Management LLC grew its stake in Infosys by 5.7% in the 4th quarter. HB Wealth Management LLC now owns 10,661 shares of the technology company’s stock valued at $196,000 after purchasing an additional 575 shares during the period. GAMMA Investing LLC increased its position in shares of Infosys by 33.0% during the 1st quarter. GAMMA Investing LLC now owns 2,390 shares of the technology company’s stock valued at $43,000 after purchasing an additional 593 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Infosys by 7.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 8,840 shares of the technology company’s stock worth $142,000 after purchasing an additional 610 shares during the period. Finally, Marshall Financial Group LLC boosted its holdings in shares of Infosys by 1.2% in the 4th quarter. Marshall Financial Group LLC now owns 52,478 shares of the technology company’s stock worth $965,000 after buying an additional 622 shares during the last quarter. 10.89% of the stock is owned by institutional investors.

About Infosys

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.