Brokerages Set Infosys Ltd. (NYSE:INFY) Target Price at $11.63

Infosys Ltd. (NYSE:INFY) has received an average recommendation of “Reduce” from the eleven analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and nine have assigned a hold recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $11.6311.

INFY has been the topic of several recent analyst reports. HSBC set a $11.47 target price on Infosys and gave the stock a “hold” rating in a report on Friday, July 24th. CLSA downgraded Infosys from an “outperform” rating to a “hold” rating in a research report on Wednesday, August 19th. TD Cowen reissued a “hold” rating and issued a $9.00 price objective (down from $10.00) on shares of Infosys in a research note on Friday, July 24th. Weiss Ratings cut Infosys from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Finally, Susquehanna lowered their target price on Infosys from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, July 24th.

Institutional Investors Weigh In On Infosys

A number of hedge funds have recently added to or reduced their stakes in INFY. V Square Quantitative Management LLC bought a new position in shares of Infosys in the first quarter worth about $97,000. TD Waterhouse Canada Inc. grew its stake in shares of Infosys by 14.2% during the second quarter. TD Waterhouse Canada Inc. now owns 9,090 shares of the technology company’s stock valued at $97,000 after purchasing an additional 1,131 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of Infosys during the second quarter valued at approximately $115,000. Laidlaw Wealth Management LLC acquired a new stake in shares of Infosys in the second quarter valued at approximately $117,000. Finally, Angeles Wealth Management LLC acquired a new stake in shares of Infosys in the second quarter valued at approximately $125,000. Institutional investors own 16.20% of the company’s stock.

Infosys Stock Down 0.9%

NYSE:INFY opened at $11.83 on Tuesday. The firm has a market cap of $47.92 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 2.78 and a beta of 0.88. Infosys has a 12 month low of $10.30 and a 12 month high of $30.00. The company’s 50-day moving average price is $11.52 and its two-hundred day moving average price is $12.79.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). The firm had revenue of $4.99 billion for the quarter, compared to the consensus estimate of $5.08 billion. Infosys had a return on equity of 33.91% and a net margin of 16.38%. On average, research analysts expect that Infosys will post 0.81 EPS for the current fiscal year.

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.