Infosys (NYSE:INFY) Price Target Cut to $17.00 by Analysts at Stifel Nicolaus

Infosys (NYSE:INFY - Free Report) had its target price trimmed by Stifel Nicolaus from $18.00 to $17.00 in a research report released on Monday morning, MarketBeat Ratings reports. The firm currently has a hold rating on the technology company's stock.

A number of other analysts also recently issued reports on the company. Susquehanna raised Infosys from a "negative" rating to a "neutral" rating and set a $17.00 target price for the company in a research report on Monday, April 14th. The Goldman Sachs Group lowered Infosys from a "buy" rating to a "neutral" rating and set a $17.90 price objective for the company. in a report on Monday, April 21st. StockNews.com downgraded shares of Infosys from a "buy" rating to a "hold" rating in a report on Tuesday, April 15th. Investec upgraded shares of Infosys from a "sell" rating to a "buy" rating in a research note on Friday, April 18th. Finally, CLSA raised shares of Infosys from a "hold" rating to an "outperform" rating in a research report on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $17.48.

Infosys Price Performance

Shares of NYSE INFY traded up $0.05 during mid-day trading on Monday, reaching $17.41. 7,573,947 shares of the company's stock were exchanged, compared to its average volume of 9,647,278. The firm has a market capitalization of $72.11 billion, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of 3.50 and a beta of 0.97. The firm has a 50-day moving average price of $18.40 and a two-hundred day moving average price of $20.91. Infosys has a 52 week low of $15.82 and a 52 week high of $23.63.

Infosys (NYSE:INFY - Get Free Report) last released its earnings results on Thursday, April 17th. The technology company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.01. Infosys had a net margin of 17.28% and a return on equity of 31.60%. The firm had revenue of $4.79 billion for the quarter, compared to analysts' expectations of $420.69 billion. During the same period in the previous year, the company earned $0.23 earnings per share. As a group, sell-side analysts forecast that Infosys will post 0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Infosys

Several hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in Infosys by 270.9% in the 4th quarter. AQR Capital Management LLC now owns 9,164,085 shares of the technology company's stock valued at $200,877,000 after purchasing an additional 6,693,127 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Infosys by 118.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,912,259 shares of the technology company's stock valued at $173,437,000 after buying an additional 4,296,291 shares during the period. First Trust Advisors LP grew its holdings in shares of Infosys by 14.5% during the fourth quarter. First Trust Advisors LP now owns 32,410,108 shares of the technology company's stock worth $710,430,000 after purchasing an additional 4,108,903 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in Infosys by 1,668.3% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,228,211 shares of the technology company's stock worth $75,470,000 after buying an additional 3,045,656 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Infosys by 43.1% in the fourth quarter. Bank of America Corp DE now owns 8,225,396 shares of the technology company's stock valued at $180,301,000 after acquiring an additional 2,478,093 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.