Cantor Fitzgerald Boosts Infosys (INFY) Price Target to $19.00

By Daily Tribune

Infosys (NYSE:INFY) had its price target raised by Cantor Fitzgerald from $16.00 to $19.00 in a research report report published on Monday, July 16th. The firm currently has a neutral rating on the technology companys stock. Cantor Fitzgerald also issued estimates for Infosys FY2020 earnings at $1.06 EPS.

Other analysts have also recently issued reports about the stock. Deutsche Bank started coverage on shares of Infosys in a research note on Thursday, July 12th. They issued a buy rating for the company. ValuEngine raised shares of Infosys from a hold rating to a buy rating in a research report on Wednesday, June 27th. Jefferies Financial Group reissued a buy rating and set a $20.30 price target on shares of Infosys in a research report on Sunday, April 15th. Stifel Nicolaus reissued a hold rating and set a $16.00 price target on shares of Infosys in a research report on Friday, April 13th. Finally, BMO Capital Markets reissued a hold rating and set a $18.00 price target on shares of Infosys in a research report on Wednesday, April 11th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $16.91.

Infosys stock traded up $0.15 during midday trading on Monday, hitting $20.90. 2,814,800 shares of the companys stock were exchanged, compared to its average volume of 6,113,040. Infosys has a 12 month low of $13.88 and a 12 month high of $20.98. The stock has a market cap of $44.75 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.97 and a beta of 0.47.

Infosys (NYSE:INFY) last released its quarterly earnings results on Friday, July 13th. The technology company reported $0.27 earnings per share for the quarter, beating analysts consensus estimates of $0.25 by $0.02. The business had revenue of $2.83 billion for the quarter, compared to analysts expectations of $2.87 billion. Infosys had a net margin of 22.30% and a return on equity of 23.22%. research analysts predict that Infosys will post 1.06 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of INFY. Franklin Resources Inc. increased its holdings in Infosys by 599.1% in the 1st quarter. Franklin Resources Inc. now owns 5,120,977 shares of the technology companys stock worth $91,410,000 after acquiring an additional 4,388,514 shares in the last quarter. Genesis Asset Managers LLP increased its holdings in Infosys by 74.4% in the 2nd quarter. Genesis Asset Managers LLP now owns 9,604,671 shares of the technology companys stock worth $186,619,000 after acquiring an additional 4,096,369 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Infosys by 22.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,353,458 shares of the technology companys stock worth $337,179,000 after acquiring an additional 3,203,387 shares in the last quarter. Kiltearn Partners LLP purchased a new stake in Infosys in the 1st quarter worth $43,597,000. Finally, Somerset Capital Management LLP purchased a new stake in Infosys in the 2nd quarter worth $35,786,000. 19.77% of the stock is owned by institutional investors.

This article provided by NewsEdge.