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

Infosys Ltd. (NYSE:INFY) reached a new 52-week low on Thursday . The stock traded as low as $11.10 and last traded at $10.7210, with a volume of 1840930 shares. The stock had previously closed at $11.70.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on INFY. BMO Capital Markets cut their price objective on Infosys from $20.00 to $15.00 and set a “market perform” rating for the company in a research report on Friday, April 24th. Susquehanna cut their price objective on Infosys from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Stifel Nicolaus set a $15.00 price objective on Infosys in a research report on Thursday, April 23rd. TD Cowen cut their price target on Infosys from $16.00 to $15.00 and set a “hold” rating for the company in a report on Monday, April 6th. Finally, Jefferies Financial Group cut Infosys from a “buy” rating to a “hold” rating and set a $14.31 price target for the company. in a report on Monday, February 23rd. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $14.22.

Infosys Stock Performance

The company has a market capitalization of $43.49 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 1.56 and a beta of 0.89. The firm has a 50 day moving average price of $12.76 and a two-hundred day moving average price of $15.05.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Lazard Asset Management LLC lifted its stake 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 during the period. Trinity Street Asset Management LLP lifted its stake in shares of Infosys by 45.5% in the 1st quarter. Trinity Street Asset Management LLP now owns 14,938,546 shares of the technology company’s stock valued at $201,820,000 after purchasing an additional 4,674,742 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Infosys by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,789,344 shares of the technology company’s stock valued at $105,206,000 after purchasing an additional 52,393 shares during the period. Bank of America Corp DE lifted its stake in shares of Infosys by 7.4% in the 1st quarter. Bank of America Corp DE now owns 6,790,666 shares of the technology company’s stock valued at $91,742,000 after purchasing an additional 469,843 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Infosys by 8.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,490,358 shares of the technology company’s stock valued at $87,685,000 after purchasing an additional 521,169 shares during the period. 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.