Infosys (NYSE:INFY) Price Target Lowered to $12.70 at JPMorgan Chase & Co.

Infosys (NYSE:INFY) had its price target decreased by research analysts at JPMorgan Chase & Co. from $16.80 to $12.70 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 16.03% from the company’s current price.

Several other research firms have also recently weighed in on INFY. TD Cowen lowered their price target on Infosys from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Monday, April 6th. Stifel Nicolaus set a $15.00 target price on shares of Infosys in a report on Thursday, April 23rd. BMO Capital Markets decreased their target price on shares of Infosys from $20.00 to $15.00 and set a “market perform” rating on the stock in a research note on Friday, April 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Infosys in a report on Monday, June 8th. Finally, Susquehanna dropped their price target on shares of Infosys from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.00.

Infosys Trading Up 1.4%

Infosys stock traded up $0.15 during trading hours on Wednesday, hitting $10.95. 4,318,951 shares of the stock traded hands, compared to its average volume of 17,668,668. The firm’s 50-day moving average price is $12.52 and its two-hundred day moving average price is $14.86. The company has a market cap of $44.29 billion, a PE ratio of 13.67, a PEG ratio of 1.40 and a beta of 0.89. Infosys has a one year low of $10.46 and a one year high of $30.00.

Infosys (NYSE:INFY) last issued its quarterly earnings results 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 company had revenue of $5.04 billion during the quarter. On average, sell-side analysts expect that Infosys will post 0.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Trinity Street Asset Management LLP lifted its stake in Infosys by 45.5% in the first quarter. Trinity Street Asset Management LLP now owns 14,938,546 shares of the technology company’s stock worth $201,820,000 after acquiring an additional 4,674,742 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Infosys by 17.0% in the 1st quarter. Lazard Asset Management LLC now owns 26,776,494 shares of the technology company’s stock valued at $361,750,000 after purchasing an additional 3,893,801 shares in the last quarter. Hudson Edge Investment Partners Inc. raised its holdings in shares of Infosys by 56.5% in the 1st quarter. Hudson Edge Investment Partners Inc. now owns 4,452,990 shares of the technology company’s stock valued at $60,160,000 after purchasing an additional 1,607,300 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of Infosys in the 1st quarter worth approximately $10,708,000. Finally, Bessemer Group Inc. lifted its position in shares of Infosys by 49.3% in the 1st quarter. Bessemer Group Inc. now owns 1,720,708 shares of the technology company’s stock worth $23,248,000 after purchasing an additional 568,573 shares during the period. Hedge funds and other institutional investors own 16.20% of the company’s stock.

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.