Infosys’ (INFY) Neutral Rating Reaffirmed at JPMorgan Chase & Co.

Infosys (NYSE:INFY)‘s stock had its “neutral” rating reiterated by equities researchers at JPMorgan Chase & Co. in a report issued on Friday,Benzinga reports. They currently have a $10.90 price target on the technology company’s stock, down from their previous price target of $12.70. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 1.82% from the company’s current price.

Several other brokerages have also recently commented on INFY. Susquehanna dropped their price target on shares of Infosys from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. TD Cowen cut their target price on shares of Infosys from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Thursday, July 9th. Stifel Nicolaus set a $13.00 price objective on Infosys and gave the company a “hold” rating in a research report on Thursday, July 16th. Weiss Ratings restated a “hold (c-)” rating on shares of Infosys in a report on Monday, June 8th. Finally, HSBC set a $11.47 target price on Infosys in a research report on Friday. Eight research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $12.19.

Infosys Price Performance

Shares of NYSE:INFY opened at $10.71 on Friday. The stock has a market cap of $43.32 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.43 and a beta of 0.90. Infosys has a 12 month low of $10.30 and a 12 month high of $30.00. The stock’s 50 day moving average price is $11.64 and its 200 day moving average price is $13.73.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Infosys had a net margin of 16.44% and a return on equity of 32.64%. The firm had revenue of $4.99 billion for the quarter, compared to the consensus estimate of $5.09 billion. On average, sell-side analysts expect that Infosys will post 0.82 EPS for the current year.

Hedge Funds Weigh In On Infosys

A number of hedge funds have recently modified their holdings of the stock. Boston Common Asset Management LLC grew its position in Infosys by 1.1% during the 1st quarter. Boston Common Asset Management LLC now owns 208,639 shares of the technology company’s stock valued at $2,819,000 after purchasing an additional 2,300 shares during the last quarter. Confluence Investment Management LLC raised its holdings in Infosys by 19.1% in the second quarter. Confluence Investment Management LLC now owns 17,636 shares of the technology company’s stock worth $185,000 after buying an additional 2,826 shares during the last quarter. Glenmede Trust Co. NA lifted its stake in shares of Infosys by 17.8% in the first quarter. Glenmede Trust Co. NA now owns 21,055 shares of the technology company’s stock worth $284,000 after buying an additional 3,179 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Infosys by 3.9% during the first quarter. Cetera Investment Advisers now owns 88,825 shares of the technology company’s stock valued at $1,200,000 after buying an additional 3,308 shares during the last quarter. Finally, Laidlaw Wealth Management LLC grew its holdings in shares of Infosys by 30.8% during the first quarter. Laidlaw Wealth Management LLC now owns 14,650 shares of the technology company’s stock valued at $198,000 after buying an additional 3,450 shares during the last quarter. 16.20% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Infosys

Here are the key news stories impacting Infosys this week:

• Positive Sentiment: Infosys said AI revenues reached 8.2% of sales in Q1, showing continued traction in higher-growth services. Infosys: AI Revenues at 8.2% in Q1; Resilient Operating Margin of 21.1%
• Positive Sentiment: The company highlighted $3.6 billion in large deal wins, with 61% net new, and strong free cash flow of $0.96 billion, which supports the investment case. Infosys: AI Revenues at 8.2% in Q1; Resilient Operating Margin of 21.1%

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.