Infosys (NYSE:INFY) Hits New 52-Week Low – Time to Sell?

Infosys Limited (NYSE:INFY) hit a new 52-week low on Thursday . The company traded as low as $15.82 and last traded at $16.10, with a volume of 4725399 shares traded. The stock had previously closed at $16.58.

Analyst Ratings Changes

A number of research firms have commented on INFY. StockNews.com lowered Infosys from a “buy” rating to a “hold” rating in a report on Tuesday. 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. CLSA raised shares of Infosys from a “hold” rating to an “outperform” rating in a report on Friday, March 7th. Stifel Nicolaus decreased their price objective on shares of Infosys from $22.00 to $18.00 and set a “hold” rating for the company in a report on Tuesday. Finally, Investec upgraded shares of Infosys from a “sell” rating to a “buy” rating in a report on Friday. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Infosys currently has a consensus rating of “Moderate Buy” and an average price target of $20.03.

Infosys Stock Down 2.7 %

The stock’s fifty day simple moving average is $18.85 and its 200 day simple moving average is $21.10. The firm has a market capitalization of $66.84 billion, a PE ratio of 20.43, a PEG ratio of 3.50 and a beta of 0.97.

Infosys (NYSE:INFY) last announced its earnings results on Thursday, April 17th. The technology company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Infosys had a return on equity of 31.60% and a net margin of 17.28%. The company had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $420.69 billion. During the same period last year, the firm earned $0.23 EPS. On average, analysts predict that Infosys Limited will post 0.74 EPS for the current year.

Hedge Funds Weigh In On Infosys

Several large investors have recently added to or reduced their stakes in INFY. AQR Capital Management LLC raised its position in shares of Infosys by 270.9% during 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 raised its holdings 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 acquiring an additional 4,296,291 shares during the period. First Trust Advisors LP raised its holdings in Infosys by 14.5% during the fourth quarter. First Trust Advisors LP now owns 32,410,108 shares of the technology company’s stock valued at $710,430,000 after acquiring an additional 4,108,903 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Infosys by 1,668.3% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,228,211 shares of the technology company’s stock valued at $75,470,000 after acquiring an additional 3,045,656 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of 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 worth $180,301,000 after acquiring an additional 2,478,093 shares during the period. 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.