Infosys (NYSE:INFY) Given New $18.00 Price Target at BMO Capital Markets

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

INFY has been the topic of a number of other research reports. HSBC reiterated a hold rating and set a $20.10 target price on shares of Infosys in a report on Friday. Wedbush reiterated an outperform rating and set a $22.00 target price on shares of Infosys in a report on Wednesday, March 13th. Guggenheim assumed coverage on Infosys in a report on Tuesday, March 19th. They set a neutral rating and a $20.00 target price on the stock. JPMorgan Chase & Co. upgraded Infosys from a neutral rating to an overweight rating in a report on Wednesday, January 3rd. Finally, BNP Paribas assumed coverage on Infosys in a report on Wednesday, January 17th. They set an outperform rating and a $24.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $19.27.

Infosys Price Performance

NYSE INFY opened at $16.81 on Friday. Infosys has a 1-year low of $14.71 and a 1-year high of $20.74. The company has a market capitalization of $69.58 billion, a P/E ratio of 22.12, a PEG ratio of 2.18 and a beta of 0.93. The business has a 50 day moving average price of $18.80 and a 200 day moving average price of $18.34.

Infosys (NYSE:INFY) last released its quarterly earnings data on Thursday, April 18th. The technology company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The firm had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.49 billion. Infosys had a return on equity of 33.26% and a net margin of 17.06%. During the same period last year, the business posted $0.18 EPS. On average, research analysts expect that Infosys will post 0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Infosys

Several hedge funds have recently made changes to their positions in INFY. Raymond James Financial Services Advisors Inc. boosted its holdings in Infosys by 4.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 16,735 shares of the technology company’s stock valued at $417,000 after acquiring an additional 652 shares during the last quarter. Cibc World Market Inc. boosted its holdings in Infosys by 39.8% in the first quarter. Cibc World Market Inc. now owns 157,264 shares of the technology company’s stock valued at $3,914,000 after acquiring an additional 44,768 shares during the last quarter. Blair William & Co. IL acquired a new position in Infosys in the first quarter valued at $465,000. Canada Pension Plan Investment Board boosted its holdings in Infosys by 108.3% in the first quarter. Canada Pension Plan Investment Board now owns 1,017,100 shares of the technology company’s stock valued at $25,315,000 after acquiring an additional 528,900 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Infosys by 1.6% in the first quarter. Allianz Asset Management GmbH now owns 1,051,193 shares of the technology company’s stock valued at $26,164,000 after acquiring an additional 16,102 shares during the last quarter. Institutional investors and hedge funds own 10.89% of the company’s stock.

Infosys Company Profile

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.