Infosys (NYSE:INFY) Price Target Cut to $10.00 by Analysts at TD Cowen

Infosys (NYSE:INFY) had its target price reduced by TD Cowen from $13.00 to $10.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. TD Cowen’s price objective indicates a potential downside of 9.30% from the company’s previous close.

Several other research firms also recently commented on INFY. Wells Fargo & Company set a $11.00 price target on shares of Infosys and gave the company an “equal weight” rating in a research report on Friday, June 26th. JPMorgan Chase & Co. reduced their target price on shares of Infosys from $16.80 to $12.70 and set an “overweight” rating for the company in a report on Wednesday, June 24th. BMO Capital Markets decreased their target price on shares of Infosys from $20.00 to $15.00 and set a “market perform” rating for the company in a research note on Friday, April 24th. Susquehanna dropped 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. Finally, Stifel Nicolaus set a $15.00 price objective on Infosys in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $13.00.

Infosys Stock Up 0.9%

NYSE:INFY traded up $0.10 during mid-day trading on Thursday, reaching $11.03. 5,185,296 shares of the stock were exchanged, compared to its average volume of 18,129,625. The stock has a market capitalization of $44.62 billion, a P/E ratio of 13.79, a P/E/G ratio of 1.47 and a beta of 0.90. Infosys has a 1 year low of $10.34 and a 1 year high of $30.00. The company has a 50 day simple moving average of $11.89 and a 200-day simple moving average of $14.30.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Wednesday, April 1st. The technology company reported $0.23 earnings per share for the quarter. The company had revenue of $5.04 billion during the quarter. Infosys had a return on equity of 32.64% and a net margin of 16.44%. As a group, research analysts predict that Infosys will post 0.83 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Lazard Asset Management LLC boosted its stake in shares of Infosys by 17.0% during the first 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. Trinity Street Asset Management LLP lifted its holdings 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 purchasing an additional 4,674,742 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Infosys by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,789,344 shares of the technology company’s stock valued at $105,206,000 after purchasing an additional 52,393 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Infosys by 7.4% during 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 purchasing an additional 469,843 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Infosys by 8.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,490,358 shares of the technology company’s stock worth $87,685,000 after purchasing an additional 521,169 shares during the last quarter. Hedge funds and other institutional investors own 16.20% of the company’s stock.

About Infosys

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.