Infosys Ltd. (NYSE:INFY – Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $10.88, but opened at $11.28. Infosys shares last traded at $11.4450, with a volume of 2,261,279 shares trading hands.
Analyst Ratings Changes
INFY has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Infosys from $16.80 to $12.70 and set an “overweight” rating on the stock in a research report on Wednesday, June 24th. Stifel Nicolaus set a $15.00 target price on Infosys in a research report on Thursday, April 23rd. BMO Capital Markets reduced their target price on Infosys from $20.00 to $15.00 and set a “market perform” rating on the stock in a report on Friday, April 24th. Wells Fargo & Company set a $11.00 price target on Infosys and gave the stock an “equal weight” rating in a research report on Friday, June 26th. Finally, TD Cowen dropped their price target on Infosys from $16.00 to $15.00 and set a “hold” rating for the company in a research note on Monday, April 6th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Infosys currently has a consensus rating of “Hold” and a consensus target price of $13.63.
Read Our Latest Report on INFY
Infosys Stock Performance
Infosys (NYSE:INFY – Get Free Report) last announced its quarterly earnings data on Wednesday, April 1st. The technology company reported $0.23 earnings per share (EPS) for the quarter. Infosys had a net margin of 16.44% and a return on equity of 32.64%. The business had revenue of $5.04 billion for the quarter. On average, equities research analysts forecast that Infosys Ltd. will post 0.83 EPS for the current year.
Hedge Funds Weigh In On Infosys
A number of institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new stake in shares of Infosys in the 1st quarter valued at approximately $97,000. State of Wyoming acquired a new position in shares of Infosys during the first quarter worth $134,000. Aureus Asset Management LLC acquired a new position in shares of Infosys during the first quarter worth $142,000. Able Wealth Management LLC bought a new position in shares of Infosys in the 1st quarter valued at $163,000. Finally, Dickmeyer Boyce Financial Management Inc. bought a new position in shares of Infosys in the 1st quarter valued at $173,000. Institutional investors and hedge funds 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.
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