Infosys (NYSE:INFY) Reaches New 12-Month Low – Here’s What Happened

Infosys Ltd. (NYSE:INFY) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $12.02 and last traded at $12.0750, with a volume of 599749 shares changing hands. The stock had previously closed at $12.30.

Analyst Ratings Changes

Several research firms have weighed in on INFY. TD Cowen decreased their target price on shares of 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 price target on shares of Infosys in a report on Thursday, April 23rd. Jefferies Financial Group lowered shares of Infosys from a “buy” rating to a “hold” rating and set a $14.31 price target on the stock. in a research report on Monday, February 23rd. Susquehanna decreased their price objective on Infosys from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Finally, BMO Capital Markets cut their target price 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. Six research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Infosys has a consensus rating of “Reduce” and a consensus target price of $14.22.

Infosys Stock Down 1.9%

The business has a 50-day simple moving average of $13.47 and a 200-day simple moving average of $15.93. The company has a market cap of $48.83 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 1.67 and a beta of 0.89.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Wednesday, April 1st. The technology company reported $0.23 earnings per share for the quarter. The business had revenue of $5.04 billion during the quarter. Infosys had a return on equity of 32.64% and a net margin of 16.44%. As a group, equities research analysts predict that Infosys Ltd. will post 0.83 EPS for the current fiscal year.

Institutional Trading of Infosys

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Madison Asset Management LLC boosted its stake in shares of Infosys by 5.4% in the first quarter. Madison Asset Management LLC now owns 124,188 shares of the technology company’s stock valued at $1,678,000 after purchasing an additional 6,358 shares during the period. ABN Amro Investment Solutions increased its stake in Infosys by 94.2% during the 1st quarter. ABN Amro Investment Solutions now owns 997,028 shares of the technology company’s stock worth $13,470,000 after buying an additional 483,700 shares during the period. XY Capital Ltd acquired a new stake in Infosys during the 1st quarter worth approximately $4,319,000. Boston Common Asset Management LLC lifted its holdings in Infosys by 1.1% during the 1st quarter. Boston Common Asset Management LLC now owns 208,639 shares of the technology company’s stock worth $2,819,000 after buying an additional 2,300 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Infosys by 46.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 77,173 shares of the technology company’s stock valued at $1,043,000 after buying an additional 24,422 shares during the period. 16.20% of the stock is currently owned by hedge funds and other institutional investors.

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.