Infosys (NYSE:INFY) Given New $12.70 Price Target at JPMorgan Chase & Co.

Infosys (NYSE:INFY) had its price objective lowered by investment analysts at JPMorgan Chase & Co. from $16.80 to $12.70 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 16.03% from the company’s current price.

A number of other analysts also recently commented on the company. TD Cowen lowered their target price on Infosys from $16.00 to $15.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Stifel Nicolaus set a $15.00 price target on Infosys in a report on Thursday, April 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Infosys in a research report on Monday, June 8th. BMO Capital Markets dropped their price objective on shares of Infosys from $20.00 to $15.00 and set a “market perform” rating on the stock in a research note on Friday, April 24th. Finally, Susquehanna cut their target price on shares of Infosys from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, April 24th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.00.

Infosys Trading Up 1.4%

Shares of INFY traded up $0.15 during midday trading on Wednesday, hitting $10.95. 4,318,951 shares of the company’s stock traded hands, compared to its average volume of 17,668,668. The stock has a market capitalization of $44.29 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 1.40 and a beta of 0.89. Infosys has a 1 year low of $10.46 and a 1 year high of $30.00. The firm’s fifty day moving average is $12.52 and its 200-day moving average is $14.86.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC grew its position in Infosys by 17.0% during the 1st quarter. Lazard Asset Management LLC now owns 26,776,494 shares of the technology company’s stock worth $361,750,000 after purchasing an additional 3,893,801 shares during the last quarter. Trinity Street Asset Management LLP boosted its stake in shares of Infosys by 45.5% during the first quarter. Trinity Street Asset Management LLP now owns 14,938,546 shares of the technology company’s stock worth $201,820,000 after buying an additional 4,674,742 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Infosys by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 7,789,344 shares of the technology company’s stock worth $105,206,000 after buying an additional 52,393 shares during the period. Bank of America Corp DE grew its holdings in shares of Infosys by 7.4% during the first 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. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Infosys by 8.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 6,490,358 shares of the technology company’s stock worth $87,685,000 after buying an additional 521,169 shares during the last quarter. 16.20% of the stock is currently owned by institutional investors and hedge funds.

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.