Infosys (NYSE:INFY) Shares Cross Below 50 Day Moving Average – Time to Sell?

Infosys Ltd. (NYSE:INFY) passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $11.65 and traded as low as $10.44. Infosys shares last traded at $10.6350, with a volume of 14,134,803 shares changing hands.

Analysts Set New Price Targets

Several research firms recently commented on INFY. BMO Capital Markets restated a “market perform” rating and set a $12.00 target price (down from $13.00) on shares of Infosys in a research report on Friday, July 24th. CLSA cut Infosys from an “outperform” rating to a “hold” rating in a research report on Wednesday, August 19th. 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. The Goldman Sachs Group restated a “neutral” rating and issued a $10.40 target price on shares of Infosys in a research note on Thursday. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Infosys in a report on Monday, August 31st. Ten investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Infosys has an average rating of “Reduce” and a consensus target price of $11.45.

Infosys Trading Up 5.5%

The stock has a fifty day moving average of $11.66 and a two-hundred day moving average of $12.10. The stock has a market capitalization of $45.98 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 2.48 and a beta of 0.87.

Infosys (NYSE:INFY) last issued its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). The business had revenue of $4.99 billion during the quarter, compared to the consensus estimate of $5.08 billion. Infosys had a net margin of 16.38% and a return on equity of 33.91%. Equities analysts expect that Infosys Ltd. will post 0.81 earnings per share for the current year.

Institutional Investors Weigh In On Infosys

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trinity Street Asset Management LLP raised its stake in shares of 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 last quarter. Lazard Asset Management LLC grew its stake in shares of Infosys by 17.0% during the first 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 during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Infosys in the second quarter valued at approximately $23,235,000. RWC Asset Advisors US LLC bought a new position in Infosys in the 2nd quarter worth approximately $21,758,000. Finally, Hudson Edge Investment Partners Inc. raised its position in 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 worth $60,160,000 after purchasing an additional 1,607,300 shares during the last quarter. Institutional investors and hedge funds 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. 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.