BMO Capital Markets Issues Pessimistic Forecast for Infosys (NYSE:INFY) Stock Price

Infosys (NYSE:INFY) had its price target lowered by equities researchers at BMO Capital Markets from $25.00 to $18.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ price objective points to a potential upside of 6.57% from the stock’s previous close.

Several other equities research analysts have also issued reports on INFY. CLSA raised shares of Infosys from a “hold” rating to an “outperform” rating in a report on Friday, March 7th. Stifel Nicolaus reduced their price objective on shares of Infosys from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Monday. The Goldman Sachs Group cut shares of Infosys from a “buy” rating to a “neutral” rating and set a $17.90 target price on the stock. in a research note on Monday. StockNews.com lowered shares of Infosys from a “buy” rating to a “hold” rating in a report on Tuesday, April 15th. Finally, Susquehanna raised Infosys from a “negative” rating to a “neutral” rating and set a $17.00 price objective on the stock in a research note on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Infosys presently has a consensus rating of “Moderate Buy” and an average target price of $17.48.

Infosys Stock Up 1.9 %

Shares of NYSE:INFY opened at $16.89 on Monday. The firm’s 50 day moving average price is $18.66 and its 200-day moving average price is $21.01. The stock has a market capitalization of $69.96 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 3.50 and a beta of 0.97. Infosys has a twelve month low of $15.82 and a twelve month high of $23.63.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, April 17th. The technology company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The business had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $420.69 billion. Infosys had a net margin of 17.28% and a return on equity of 31.60%. During the same quarter last year, the company posted $0.23 EPS. Analysts expect that Infosys will post 0.74 earnings per share for the current fiscal year.

Institutional Trading of Infosys

A number of hedge funds have recently bought and sold shares of the stock. Sierra Ocean LLC acquired a new position in shares of Infosys during the fourth quarter worth $29,000. Rakuten Securities Inc. boosted its holdings in Infosys by 308.4% in the first quarter. Rakuten Securities Inc. now owns 1,413 shares of the technology company’s stock worth $26,000 after acquiring an additional 1,067 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Infosys during the fourth quarter worth about $52,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Infosys during the third quarter valued at about $57,000. Finally, Farther Finance Advisors LLC raised its position in shares of Infosys by 69.7% in the 4th quarter. Farther Finance Advisors LLC now owns 3,115 shares of the technology company’s stock valued at $68,000 after purchasing an additional 1,279 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.