TD Cowen Has Lowered Expectations for Infosys (NYSE:INFY) Stock Price

Key Points

• TD Cowen cut its price target on Infosys from $13.00 to $10.00 and kept a hold rating, implying about 9.3% downside from the prior close.
• Other analysts have also lowered expectations, including JPMorgan, Wells Fargo, BMO Capital Markets, and Susquehanna, leaving Infosys with a consensus hold rating and a $13.00 average price target.
• Infosys shares traded at $11.03 on Thursday, near their 52-week low of $10.34 and well below the 52-week high of $30.00, while the company reported recent quarterly EPS of $0.23 on $5.04 billion in revenue.

Infosys (NYSE:INFY - Get Free Report) had its price objective decreased by equities researchers at TD Cowen from $13.00 to $10.00 in a report released on Thursday,Benzinga reports. The firm presently has a "hold" rating on the technology company's stock. TD Cowen's price objective indicates a potential downside of 9.30% from the company's previous close.

A number of other equities analysts have also issued reports on the company. JPMorgan Chase & Co. reduced their target price on Infosys from $16.80 to $12.70 and set an "overweight" rating for the company in a research note on Wednesday, June 24th. Wells Fargo & Company set a $11.00 price objective on Infosys and gave the company an "equal weight" rating in a report on Friday, June 26th. BMO Capital Markets reduced their price objective on Infosys from $20.00 to $15.00 and set a "market perform" rating for the company in a research note on Friday, April 24th. Susquehanna decreased their target price on Infosys from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Friday, April 24th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Infosys in a report on Monday, June 8th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Infosys currently has a consensus rating of "Hold" and a consensus price target of $13.00.

Infosys Stock Performance

Shares of Infosys stock traded up $0.10 during trading hours on Thursday, hitting $11.03. The company's stock had a trading volume of 5,185,296 shares, compared to its average volume of 18,129,625. The business has a 50 day moving average price of $11.89 and a two-hundred day moving average price of $14.30. Infosys has a 12-month low of $10.34 and a 12-month high of $30.00. The company has a market cap of $44.62 billion, a PE ratio of 13.79, a PEG ratio of 1.47 and a beta of 0.90.

Infosys (NYSE:INFY - Get Free Report) last posted its earnings results on Wednesday, April 1st. The technology company reported $0.23 earnings per share for the quarter. Infosys had a net margin of 16.44% and a return on equity of 32.64%. The company had revenue of $5.04 billion during the quarter. As a group, research analysts anticipate that Infosys will post 0.83 earnings per share for the current year.

Institutional Investors Weigh In On Infosys

Several institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of Infosys during the first quarter valued at about $97,000. Foster Group Inc. purchased a new stake in Infosys during the 2nd quarter worth about $127,000. State of Wyoming acquired a new stake in Infosys in the first quarter valued at approximately $134,000. Aureus Asset Management LLC purchased a new stake in shares of Infosys during the 1st quarter worth $142,000. Finally, Able Wealth Management LLC acquired a new position in shares of Infosys during the 1st quarter worth about $163,000. 16.20% of the stock is currently owned by institutional investors and hedge funds.

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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